Section 2675-I. Monies of the authority

1. All monies of the authority from
  whatever  source  derived, except as otherwise authorized or provided in
  this title, shall be paid  to  the  authority  and  shall  be  deposited
  forthwith  in  a bank or banks in the state designated by the authority.
  The monies in such accounts shall be withdrawn  on  the  order  of  such
  person  or  persons as the authority may authorize. All deposits of such
  monies shall, if required by the authority, be secured in such manner as
  the authority may determine. 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. Such
  examination shall be conducted by the comptroller at least once in every
  five years; the comptroller is authorized, however, to accept  from  the
  authority,  in  lieu  of such an examination, an external examination of
  its books and accounts made at the request of the authority. The results
  of any  such  examinations  shall  be  reported  to  the  governor,  the
  chairperson  of  the  senate  finance  committee, the chairperson of the
  assembly ways and means committee, the mayor and the county executive.
    2. Notwithstanding any other provisions of this title related  to  the
  investments  of  monies of the authority, the authority shall have power
  to contract with holders of  any  of  its  bonds,  as  to  the  custody,
  collection,   securing,   investment,  and  payment  of  monies  of  the
  authority, of any monies held in trust or otherwise for the  payment  of
  bonds, and to carry out such contract. Monies held in trust or otherwise
  for  the  payment of bonds or in any way to secure bonds and deposits of
  such monies may be secured in such manner as shall be set forth in  such
  contract  or agreement, and all banks and trust companies are authorized
  to give such security for such deposits. The authority  shall  establish
  and  may  amend  from time to time, guidelines for the investment of its
  monies, including those held in trust for the benefit of the holders  of
  bonds,  and shall file such guidelines in the authority's public records
  within sixty days after the adoption of such  guidelines  or  amendments
  thereto.
    3.  The  authority shall submit to the comptroller, within thirty days
  of the receipt thereof by the authority, a copy of the report  of  every
  external examination of the books and accounts of the authority.