Section 1840-K. Moneys of the authority

1. All moneys of the authority,
  from whatever source derived, shall be  deposited  in  a  separate  bank
  account  or  accounts.  The moneys in such accounts shall be paid out on
  checks signed by the chairman on requisition of the  executive  director
  of  the  authority  or  of such other officer or employee or officers or
  employees of the authority as the authority shall authorize to make such
  requisition. All deposits of such moneys shall be secured by obligations
  of the United States of America or of the state 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.
    2. Notwithstanding the provisions of subdivision one of this  section,
  the  authority  shall  have power to contract with the holders of any of
  its bonds or notes, as to the custody, collection, securing,  investment
  and  payment  of  any  moneys of the authority, or of any moneys held in
  trust or otherwise for the payment of bonds or notes, and to  carry  out
  such  contracts.  Moneys  held  in trust or otherwise for the payment of
  bonds or notes or in any way to secure bonds or notes  and  deposits  of
  such  moneys  may  be  secured  in  the  same  manner  as  moneys of the
  authority, and all banks and trust companies are authorized to give such
  security for such deposits.
    3. Any moneys of the authority  not  required  for  immediate  use  or
  disbursement  may,  at  the  discretion of the authority, be invested in
  those obligations  specified  pursuant  to  the  provisions  of  section
  ninety-eight-a of the state finance law.
    4.  Subject  to  the  provisions  of any contract with bondholders and
  noteholders and to the approval of the comptroller, the authority  shall
  prescribe a system of accounts.