New York § 1596-H Moneys of the authority

New York Statutes

§ 1596-H — Moneys of the authority

New York § 1596-H

Law PBAPublic Authorities

Title 11City of Yonkers Parking Authority

Art. 7Parking Authorities

This text of New York § 1596-H (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 § 1596-H (2026).

Text

  § 1596-h. Moneys of the authority. All moneys of the authority shall\nbe paid to the comptroller of the city as agent of the authority, who\nshall not commingle such moneys with any other moneys. Such moneys shall\nbe deposited in a separate bank account or accounts. The moneys in such\naccounts shall be paid out by the comptroller of the city on requisition\nof the chairman of the authority or of such other person or persons as\nthe authority may authorize to make such requisitions after audit by the\ncomptroller of the city. All deposits of such moneys shall, if required\nby the comptroller of the city or the authority, be secured by\nobligations of the United States or of the state of New York of a market\nvalue equal at all times to the amount of the deposit, and all banks and\ntrust

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§ 1596-h. Moneys of the authority. All moneys of the authority shall\nbe paid to the comptroller of the city as agent of the authority, who\nshall not commingle such moneys with any other moneys. Such moneys shall\nbe deposited in a separate bank account or accounts. The moneys in such\naccounts shall be paid out by the comptroller of the city on requisition\nof the chairman of the authority or of such other person or persons as\nthe authority may authorize to make such requisitions after audit by the\ncomptroller of the city. All deposits of such moneys shall, if required\nby the comptroller of the city or the authority, be secured by\nobligations of the United States or of the state of New York of a market\nvalue equal at all times to the amount of the deposit, and all banks and\ntrust companies are authorized to give such security for such deposits.\nThe comptroller of the city and his legally authorized representatives\nare authorized and empowered from time to time to examine the accounts\nand books 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 acquired\nin the same manner as moneys of the authority, and all banks and trust\ncompanies are authorized to give such security for such deposits. The\naccounts of the authority shall be subject to the supervision of the\nstate comptroller. The authority shall render a complete account of its\nproceedings to the common council at such time or times as requested to\ndo so by said common council.\n