Section 1622-H. Moneys of the authority

All moneys of the authority shall
  be paid to the  village  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 village treasurer
  of the village on requisition of the chairman of  the  authority  or  of
  such other person or persons as the authority may authorize to make such
  requisitions  after  audit by the village treasurer of the village.  All
  deposits of such moneys shall, if required by the village  treasurer  of
  the  village  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 of the
  village 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 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 any way  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 village board of trustees at such time  or  times  as
  required to do so by said village board of trustees.