Section 1599-HHH. Moneys of the authority  


Latest version.
  • All moneys of the authority
      shall be paid to the treasurer of the village as agent of the authority,
      who shall not commingle such moneys with any other moneys.  Such  moneys
      shall be deposited in a separate bank account or accounts. The moneys in
      such  accounts  shall be paid out by the treasurer on requisition of the
      chairman of the authority or of such person or persons as the  authority
      may  authorize  to  make such requisitions after audit by the treasurer.
      All deposits of such moneys shall, if required by the treasurer  or  the
      authority,  be  secured  by  obligations  of the United States or of the
      state of New York of a market value equal at all times to the amount  of
      the  deposit,  and  all banks and trust companies are authorized to give
      such  security  for  such  deposits.  The  treasurer  and  his   legally
      authorized  representatives  are  authorized  and empowered from time to
      time to examine the accounts and books of the authority,  including  its
      receipts,  disbursements,  contracts, leases, sinking funds, investments
      and any other records and papers relating to its financial standing. The
      authority shall have  power,  notwithstanding  the  provisions  of  this
      section,  to  contract  with  the  holders of any of its bonds as to the
      custody, collection, securing, investment and payment of any  moneys  of
      the  authority  or any moneys held in trust or otherwise for the payment
      of bonds or in any way to secure  bonds,  and  to  carry  out  any  such
      contract notwithstanding that such contract may be inconsistent with the
      previous  provisions  of this section. Moneys held in trust or otherwise
      for the payment of bonds or in any way to secure bonds and  deposits  of
      such  moneys  may  be  acquired  in  the  same  manner  as moneys of the
      authority, and all banks and trust companies are authorized to give such
      security for such deposits. The  accounts  of  the  authority  shall  be
      subject  to  the  supervision  of  the  state  comptroller and he or his
      legally authorized representatives are hereby authorized  and  empowered
      from  time  to  time to examine the accounts and books of the authority,
      including  its  receipts,  disbursements,  contracts,   sinking   funds,
      investments  and any other matter relating to its financial standing and
      fiscal affairs. The authority shall render a complete annual account  of
      its  proceedings  to  the  board  of  trustees  at its second meeting in
      September of each and every year.
        * NB Authority ceased to exist 06/01/1976
        * NB There are 2 § 1599-hhh's