New York Public Authorities Law Section 1432 - Moneys of the authority.

  1432. Moneys of the authority. All moneys of the authority shall be
  paid to the commissioner  of  finance  of  the  city  as  agent  of  the
  authority,  who  shall  not commingle such moneys with any other moneys.
  Such moneys shall be deposited in a separate bank account  or  accounts.
  The  moneys  in  such  accounts shall be paid out by the commissioner of
  finance on requisition of the chairman of the authority or of such other
  person  or  persons  as  the  authority  may  authorize  to  make   such
  requisitions after audit by the commissioner of finance. All deposits of
  such  moneys  shall,  if  required by the commissioner of finance or the
  authority, be secured by direct or guaranteed obligations of the  United
  States  or  its  agencies  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
  commissioner  of  finance 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. The authority shall have
  power, notwithstanding the provisions of this section, to contract  with
  the holders of any of its bonds as to the custody, collection, securing,
  investment and payment of any moneys of the authority 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  previous  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 authority, and all banks and trust
  companies are authorized to give such security for such deposits.
The accounts of the authority shall be subject to the  supervision  of
  the state comptroller.

Last modified: February 3, 2019