Section 1621-H. Moneys of the authority

All moneys of the authority shall
  be paid to the city treasurer of the city 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 city treasurer of the city  on
  requisition  of the chairperson of the authority or of such other person
  or persons as the authority may  authorize  to  make  such  requisitions
  after  audit  by  the  city  treasurer of the city. All deposits of such
  moneys shall 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 of the city and his or
  her 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  or
  notes 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 notes or in anyway to secure bonds or notes, 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 secured 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.
  The  authority shall render a complete account of its proceedings to the
  common council at its first meeting of each year and at such other times
  as may reasonably be requested by the common council.