New York § 1432 Moneys of the authority

New York Statutes

§ 1432 — Moneys of the authority

New York § 1432

Law PBAPublic Authorities

Title 2White Plains Parking Authority

Art. 7Parking Authorities

This text of New York § 1432 (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 § 1432 (2026).

Text

  § 1432. Moneys of the authority. All moneys of the authority shall be\npaid to the commissioner of finance of the city as agent of the\nauthority, who shall not commingle such moneys with any other moneys.\nSuch moneys shall be deposited in a separate bank account or accounts.\nThe moneys in such accounts shall be paid out by the commissioner of\nfinance on requisition of the chairman of the authority or of such other\nperson or persons as the authority may authorize to make such\nrequisitions after audit by the commissioner of finance. All deposits of\nsuch moneys shall, if required by the commissioner of finance or the\nauthority, be secured by direct or guaranteed obligations of the United\nStates or its agencies or of the state of New York of a market value\nequal at all times to the

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§ 1432. Moneys of the authority. All moneys of the authority shall be\npaid to the commissioner of finance of the city as agent of the\nauthority, who shall not commingle such moneys with any other moneys.\nSuch moneys shall be deposited in a separate bank account or accounts.\nThe moneys in such accounts shall be paid out by the commissioner of\nfinance on requisition of the chairman of the authority or of such other\nperson or persons as the authority may authorize to make such\nrequisitions after audit by the commissioner of finance. All deposits of\nsuch moneys shall, if required by the commissioner of finance or the\nauthority, be secured by direct or guaranteed obligations of the United\nStates or its agencies or of the state of New York of a market value\nequal at all times to the amount of the deposit, and all banks and trust\ncompanies are authorized to give such security for such deposits. The\ncommissioner of finance and his legally authorized representatives are\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 records and\npapers relating to its financial standing. The authority shall have\npower, notwithstanding the provisions of this section, to contract with\nthe holders of any of its bonds as to the custody, collection, securing,\ninvestment and payment of any moneys of the authority or any moneys held\nin trust or otherwise for the payment of bonds or in any way to secure\nbonds, and to carry out any such contract notwithstanding that such\ncontract may be inconsistent with the previous provisions of this\nsection. Moneys held in trust or otherwise for the payment of bonds or\nin any way to secure bonds and deposits of such moneys may be secured in\nthe same manner as moneys of the authority, and all banks and trust\ncompanies are authorized to give such security for such deposits.\n The accounts of the authority shall be subject to the supervision of\nthe state comptroller.\n