New York § 1097 Moneys of the authority

New York Statutes

§ 1097 — Moneys of the authority

New York § 1097

Law PBAPublic Authorities

Title 5Monroe County Water Authority

Art. 5Public Utility Authorities

This text of New York § 1097 (Moneys of the authority) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 1097 (2026).

Text

  § 1097. Moneys of the authority. All moneys of the authority from\nwhatever source derived shall be paid to the treasurer of the authority\nand shall be deposited forthwith in a bank or banks in the state of New\nYork designated by the authority. The moneys in such accounts shall be\npaid out on check of the treasurer on requisition by the authority or of\nsuch other person or persons as the authority may authorize to make such\nrequisitions. All deposits of such moneys shall, if required by the\ncomptroller or the authority, be secured by obligations of the United\nStates or of the state of New York or of the county of a market value\nequal at all times to the amount of deposit and all banks and trust\ncompanies are authorized to give such security for such deposits. The\ncomptroller an

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§ 1097. Moneys of the authority. All moneys of the authority from\nwhatever source derived shall be paid to the treasurer of the authority\nand shall be deposited forthwith in a bank or banks in the state of New\nYork designated by the authority. The moneys in such accounts shall be\npaid out on check of the treasurer on requisition by the authority or of\nsuch other person or persons as the authority may authorize to make such\nrequisitions. All deposits of such moneys shall, if required by the\ncomptroller or the authority, be secured by obligations of the United\nStates or of the state of New York or of the county of a market value\nequal at all times to the amount of deposit and all banks and trust\ncompanies are authorized to give such security for such deposits. The\ncomptroller and his legally authorized representatives, and the director\nof finance of the county of Monroe, if he so elect, are hereby\nauthorized and empowered from time to time to examine the accounts and\nbooks of the authority, including its receipts, disbursements,\ncontracts, leases, sinking funds, investments and any other matters\nrelating to its financial standing. The authority shall have power,\nnotwithstanding the provisions of this section, to contract with the\nholders of any of its bonds as to the custody, collection, security,\ninvestment and payment of any moneys of the authority, or any moneys\nheld in trust or otherwise for the payment of bonds or in any way to\nsecure bonds, and to carry out any such contract notwithstanding that\nsuch contract may be inconsistent with the provisions of this section.\nMoneys held in trust or otherwise for the payment of bonds or in any way\nto secure bonds and deposits of such moneys may be secured in the same\nmanner as moneys of the authority, and all banks and trust companies are\nauthorized to give such security for such deposits.\n