Section 1656. Moneys of the authority  


Latest version.
  • All moneys of the authority from
      whatever source derived shall be paid to the state comptroller as  agent
      of  the  authority.  Such  moneys  shall be deposited in a separate bank
      account or accounts and shall not be commingled with any  other  moneys.
      The moneys in such account shall be paid out on check of the comptroller
      on  requisition  of  the  president  of  the  authority or of such other
      officer  or  person  as  the  authority  may  authorize  to  make   such
      requisitions.  All  deposits  of  such  moneys shall, if required by the
      comptroller or the authority, be secured by obligations  of  the  United
      States  or of 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  hereby  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  matters  relating  to its
      financial standing. This section shall not be construed as limiting  the
      power  of  the  authority  to agree as to the custody and disposition of
      moneys or fees and revenues for the security of its bonds.
        * NB Repealed October 6, 2009