Section 1493-H. Moneys of the authority

All moneys of the authority shall
  be paid to the 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 money 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  and  upon  the
  warrant  of  the city comptroller. All deposits of such moneys shall, if
  required by the treasurer or the authority, be secured by obligations of
  the United States or the state of New York at 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 representative 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 account  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 common  council  at  its  first
  meeting in January of each and every year.