Section 2050-K. Moneys of the agency

All moneys of the agency from whatever
  source derived shall be paid to the treasurer of the agency and shall be
  deposited  forthwith  in interest-bearing accounts in a bank or banks in
  the state designated by the governing body. The moneys in such  accounts
  shall  be  paid  out  on  check of the treasurer upon requisition by the
  governing body or of such other person or persons as the governing  body
  may  authorize  to  make  such requisitions. All deposits of such moneys
  shall be secured by obligations of the United States or of the state  or
  of  the  county or any municipality of a market value equal at all times
  to the  amount  on  deposit  and  all  banks  and  trust  companies  are
  authorized  to  give  such  security for such deposits. The agency shall
  have power, notwithstanding the provisions of this section, to  contract
  with  the  holders of any bonds as to the custody, collection, security,
  investment and payment of any moneys of the agency or any moneys held in
  trust or otherwise for the payment of bonds or  in  any  way  to  secure
  bonds and carry out any such contract notwithstanding that such contract
  may  be inconsistent with the 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 agency and all banks and trust companies are authorized to
  give such security for such deposits.  Any  moneys  of  the  agency  not
  required for immediate use or disbursement may, at the discretion of the
  agency,  be  invested  in  those  obligations  specified pursuant to the
  provisions of section ninety-eight-a of the state finance  law.  Subject
  to the provisions of any contract with bondholders and with the approval
  of the comptroller, the agency shall prescribe a system of accounts.