Section 666. Moneys of the corporation

1. All moneys of the corporation,
  except as otherwise authorized or provided in  this  article,  shall  be
  deposited  as  soon  as practicable in a separate account or accounts in
  banks or trust companies organized  under  the  laws  of  the  state  or
  national  banking  association doing business in the city. The moneys in
  such accounts shall be paid out on checks  signed  by  such  officer  or
  employee  of  the  corporation  as  the corporation shall authorize. All
  deposits of such moneys  shall,  if  required  by  the  corporation,  be
  secured  by  obligations  of the United States or of the state or of the
  city 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.
    Notwithstanding the provisions of this section, the corporation  shall
  have  power to contract with the holders of any of its notes or bonds as
  to the custody, collection, securing,  investment  and  payment  of  any
  moneys  of  the corporation and of any moneys held in trust or otherwise
  for the payment of notes or bonds,  and  to  carry  out  such  contract.
  Moneys  held  in trust or otherwise for the payment of notes or bonds or
  in any way to secure notes or bonds and deposits of such moneys  may  be
  secured  in  the same manner as moneys of the corporation, and all banks
  and trust companies are  authorized  to  give  such  security  for  such
  deposits.
    2.  Subject  to  the  provisions  of any contract with noteholders and
  bondholders and the approval of the comptroller, the  corporation  shall
  prescribe a system of accounts.
    3.  The  comptroller,  or  his  legally  authorized representative, is
  hereby authorized and empowered from time to time to examine  the  books
  and  accounts  of the corporation including its receipts, disbursements,
  contracts, reserve funds, sinking  funds,  investments,  and  any  other
  matters relating to its financial standing. Such an examination shall be
  conducted  by  the  comptroller  at  least once in every five years; the
  comptroller is authorized, however, to accept from the  corporation,  in
  lieu  of  such  an examination, an external examination of its books and
  accounts made at the request of the corporation.
    4. The corporation shall submit  to  the  mayor  and  the  comptroller
  within  thirty  days of the receipt thereof by the corporation a copy of
  the report of every external examination of the books  and  accounts  of
  the  corporation  other  than copies of the reports of such examinations
  made by the comptroller.