Section 2350-J. 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  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 authorized 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 of
  any other municipality within the county 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  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  to  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.