§ 1199-KKKK — Moneys of the authority

* § 1199-kkkk. Moneys of the authority. All monies of the authority\nfrom whatever source derived shall be paid to the treasurer of the\nauthority and shall be deposited forthwith in a bank or banks designated\nby the authority. The monies in such accounts shall be paid out on check\nof the treasurer upon requisition by such person or persons as the\nauthority may authorize to make such requisitions. All deposits of such\nmonies shall be secured by obligations of the United States or of the\nstate or of any municipality of a market value equal at all times to the\namount on deposit and all banks and trust companies are authorized to\ngive such security for such deposits. To the extent practicable,\nconsistent with the cash requirements of the authority, all such monies\nshall be deposited in interest bearing accounts. The authority shall\nhave power, notwithstanding the provisions of this section, to contract\nwith the holders of any bonds as to the custody, collection, security,\ninvestment and payment of any monies of the authority or any monies held\nin trust or otherwise for the payment of bonds or any way to secure\nbonds, and carry out any such contract notwithstanding that such\ncontract may be inconsistent with the provisions of this section. Monies\nheld in trust or otherwise for the payment of bonds or in any way to\nsecure bonds and deposits of such monies may be secured in the same\nmanner as monies of the authority and all banks and trust companies are\nauthorized to give such security for such deposits. Any monies of the\nauthority not required for immediate use or disbursement may, at the\ndiscretion of the authority, be invested in those obligations specified\npursuant to the provision of section ninety-eight-a of the state finance\nlaw. Subject to the provisions of any contract with bond holders and\nwith the approval of the state comptroller, the authority shall\nprescribe a system of accounts.\n * NB There are 2 § 1199-kkkk's\n