§ 1149-J — Moneys of the authority

§ 1149-j. 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 one or more banks and/or trust\ncompanies in the state designated by the authority. The moneys in such\naccounts shall be paid out on checks of the treasurer upon requisition\nby the board or of such other person or persons as the authority may\nauthorize to make such requisitions.\n All deposits of such moneys shall be secured by obligations of (or\nguaranteed by) the United States or of the state or of the county of a\nmarket value equal at all times to the amount on deposit and all banks\nand trust companies are authorized to give such security for such\ndeposits. Any moneys of the authority not required for immediate use or\ndisbursement may, at the discretion of the authority, be invested in\nthose obligations specified pursuant to the provisions of section\nninety-eight-a of the state finance law.\n The authority shall have power, notwithstanding the provisions of this\nsection, to contract with the holders of any bonds as to the custody,\ncollection, security, investment and payment of any moneys of the\nauthority or any moneys held in trust or otherwise for the payment of\nbonds or any way to secure bonds. Moneys held in trust or otherwise for\nthe payment of bonds or in any way to secure bonds and deposits of such\nmoneys may be secured in the same manner as moneys of the authority and\nall banks and trust companies are authorized to give such security for\nsuch deposits.\n