New York § 156 Moneys of the authority

New York Statutes

§ 156 — Moneys of the authority

New York § 156

Law PBAPublic Authorities

Title 3Jones Beach State Parkway Authority

Art. 2Park, Parkway and Highway Authorities

This text of New York § 156 (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 § 156 (2026).

Text

  * § 156. Moneys of the authority. All moneys of the authority from\nwhatever source derived shall be paid to the comptroller 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 on check of the\ncomptroller on requisition of the president of the authority or of such\nother 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 of a market value equal at all times\nto the amount of the deposit and all banks and trust companies are\nauthorized to give such sec

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* § 156. Moneys of the authority. All moneys of the authority from\nwhatever source derived shall be paid to the comptroller 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 on check of the\ncomptroller on requisition of the president of the authority or of such\nother 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 of a market value equal at all times\nto the amount of the deposit and all banks and trust companies are\nauthorized to give such security for such deposits. The comptroller and\nhis legally authorized representatives are hereby authorized and\nempowered from time to time to examine the accounts and books of the\nparkway authority, including its receipts, disbursements, contracts,\nleases, sinking 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, securing, 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 to carry out\nany such contract notwithstanding that such contract may be inconsistent\nwith the previous provisions of this section. Moneys held in trust or\notherwise for the payment of bonds or in any way to secure bonds and\ndeposits of such moneys may be secured in the same manner as moneys of\nthe authority, and all banks and trust companies are authorized to give\nsuch security for such deposits.\n * NB (Authority abolished June 30, 1978)\n