New York § 1599-H Moneys of the authority

New York Statutes

§ 1599-H — Moneys of the authority

New York § 1599-H

Law PBAPublic Authorities

Title 14City of Binghamton Parking Authority

Art. 7Parking Authorities

This text of New York § 1599-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 § 1599-H (2026).

Text

  * § 1599-h. Moneys of the authority. All moneys of the authority shall\nbe paid to the comptroller and treasurer 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 comptroller and\ntreasurer of the city on requisition of the chairman of the authority or\nof such other person or persons as the authority may authorize to make\nsuch requisitions after audit by the comptroller of the city. All\ndeposits of such moneys shall, if required by the comptroller and\ntreasurer of the city or the authority, be secured by obligations of the\nUnited States or of the state of New York of a market value equal at all\ntimes to the am

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

* § 1599-h. Moneys of the authority. All moneys of the authority shall\nbe paid to the comptroller and treasurer 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 comptroller and\ntreasurer of the city on requisition of the chairman of the authority or\nof such other person or persons as the authority may authorize to make\nsuch requisitions after audit by the comptroller of the city. All\ndeposits of such moneys shall, if required by the comptroller and\ntreasurer of the city or the authority, be secured by obligations of the\nUnited States or of the state of New York of a market value equal at all\ntimes to the amount of the deposit, and all banks and trust companies\nare authorized to give such security for such deposits. The comptroller\nand the mayor and the members of the common council of the city and\ntheir legally authorized representatives are authorized and empowered\nfrom time to time to examine the accounts and books of the authority,\nincluding its receipts, disbursements, contracts, leases, sinking funds,\ninvestments and any other records and papers relating to its financial\nstanding. The authority shall have power, notwithstanding the provisions\nof this section, to contract with the holders of any of its bonds as to\nthe custody, collection, securing, investment and payment of any moneys\nof the authority or any moneys held in trust or otherwise for the\npayment of bonds or in any way to secure bonds, and to carry out any\nsuch 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 acquired in the same manner as moneys of\nthe authority, and all banks and trust companies are authorized to give\nsuch security for such deposits. The accounts of the authority shall be\nsubject to the supervision of the state comptroller. The authority shall\nrender a complete account of its proceedings to the common council at\nsuch time or times as requested to do so by said common council.\n * NB Authority ceased to exist 12/31/99\n * NB There are 4 § 1599-h's\n