§ 1155 — Moneys of the authority

§ 1155. 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\nauditor and his legally authorized representatives of the county of\nOnondaga, and the comptroller if they so elect, are hereby authorized\nand empowered from time to time to examine the accounts and books of the\nauthority, including its receipts, disbursements, contracts, leases,\nsinking funds, investments and any other matters relating to its\nfinancial standing. The authority shall have power, notwithstanding the\nprovisions of this section, to contract with the holders of any of its\nbonds as to the custody, collection, security, investment and payment of\nany moneys of the authority, or any moneys held in trust or otherwise\nfor the payment of bonds or in any way to secure bonds, and carry out\nany such contract notwithstanding that such contract may be inconsistent\nwith the provisions of this section. Moneys held in trust or otherwise\nfor the payment of bonds or in any way to secure bonds and deposits of\nsuch moneys may be secured in the same manner as moneys of the\nauthority, and all banks and trust companies are authorized to give such\nsecurity for such deposits.\n