New York § 1208 Revenue and accounts

New York Statutes

§ 1208 — Revenue and accounts

New York § 1208

Law PBAPublic Authorities

Title 9New York City Transit Authority

Art. 5Public Utility Authorities

This text of New York § 1208 (Revenue and accounts) 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 § 1208 (2026).

Text

§ 1208. Revenue and accounts.

1.The authority shall establish and\nmaintain a system of accounts to show at all times the cost of the\nseveral classes of property used in operation and the sources of funds\nused in the acquisition of such property; the several classes of\noperating revenue and other income; maintenance expenses, interest, and\nall other charges. To the extent consistent with this title, such\naccounts shall be kept in accordance with the appropriate uniform system\nof accounts prescribed by the public service commission and shall be\npublished monthly in the city record.\n 2. The moneys of the authority shall be deposited daily in banks to be\ndesignated by the authority. Deposits may be secured by obligations of\nor guaranteed by the United States, the state, or any m

Free access — add to your briefcase to read the full text and ask questions with AI

§ 1208. Revenue and accounts. 1. The authority shall establish and\nmaintain a system of accounts to show at all times the cost of the\nseveral classes of property used in operation and the sources of funds\nused in the acquisition of such property; the several classes of\noperating revenue and other income; maintenance expenses, interest, and\nall other charges. To the extent consistent with this title, such\naccounts shall be kept in accordance with the appropriate uniform system\nof accounts prescribed by the public service commission and shall be\npublished monthly in the city record.\n 2. The moneys of the authority shall be deposited daily in banks to be\ndesignated by the authority. Deposits may be secured by obligations of\nor guaranteed by the United States, the state, or any municipal\ncorporation of the state or in such other manner as the authority may\nprovide, and all banks and trust companies are authorized to give such\nsecurity for such deposits. The comptroller shall have the power from\ntime to time, to examine the accounts, books and any other records or\npapers relating to the financial condition of the authority, which\nexamination shall not preclude examination of such matters by any other\nauthorized officer or body.\n 3. Payments or withdrawals of moneys of the authority shall be made by\nchecks drawn and signed by a member or an officer of the authority, duly\nauthorized by resolution of the board.\n