Section 1590-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 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
  comptroller  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.
  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.