New York § 1599-HHH Moneys of the authority

New York Statutes

§ 1599-HHH — Moneys of the authority

New York § 1599-HHH

Law PBAPublic Authorities

Title 16Village of Mount Kisco Parking Authority

Art. 7Parking Authorities

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Bluebook

N.Y. Public Authorities § 1599-HHH (2026).

Text

  * § 1599-hhh. Moneys of the authority. All moneys of the authority\nshall be paid to the treasurer of the village as agent of the authority,\nwho shall not commingle such moneys with any other moneys. Such moneys\nshall be deposited in a separate bank account or accounts. The moneys in\nsuch accounts shall be paid out by the treasurer on requisition of the\nchairman of the authority or of such person or persons as the authority\nmay authorize to make such requisitions after audit by the treasurer.\nAll deposits of such moneys shall, if required by the treasurer or the\nauthority, be secured by obligations of the United States or of the\nstate of New York of a market value equal at all times to the amount of\nthe deposit, and all banks and trust companies are authorized to give\nsuch secu

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* § 1599-hhh. Moneys of the authority. All moneys of the authority\nshall be paid to the treasurer of the village as agent of the authority,\nwho shall not commingle such moneys with any other moneys. Such moneys\nshall be deposited in a separate bank account or accounts. The moneys in\nsuch accounts shall be paid out by the treasurer on requisition of the\nchairman of the authority or of such person or persons as the authority\nmay authorize to make such requisitions after audit by the treasurer.\nAll deposits of such moneys shall, if required by the treasurer or the\nauthority, be secured by obligations of the United States or of the\nstate of New York of a market value equal at all times to the amount of\nthe deposit, and all banks and trust companies are authorized to give\nsuch security for such deposits. The treasurer and his legally\nauthorized representatives are authorized and empowered from time to\ntime to examine the accounts and books of the authority, including its\nreceipts, disbursements, contracts, leases, sinking funds, investments\nand any other records and papers relating to its financial standing. The\nauthority shall have power, notwithstanding the provisions of this\nsection, to contract with the holders of any of its bonds as to the\ncustody, collection, securing, investment and payment of any moneys of\nthe authority or any moneys held in trust or otherwise for the payment\nof bonds or in any way to secure bonds, and to carry out any such\ncontract notwithstanding that such contract may be inconsistent with the\nprevious provisions of this section. Moneys held in trust or otherwise\nfor the payment of bonds or in any way to secure bonds and deposits of\nsuch moneys may be acquired in the same manner as moneys of the\nauthority, and all banks and trust companies are authorized to give such\nsecurity for such deposits. The accounts of the authority shall be\nsubject to the supervision of the state comptroller and he or his\nlegally authorized representatives are hereby authorized and empowered\nfrom time to time to examine the accounts and books of the authority,\nincluding its receipts, disbursements, contracts, sinking funds,\ninvestments and any other matter relating to its financial standing and\nfiscal affairs. The authority shall render a complete annual account of\nits proceedings to the board of trustees at its second meeting in\nSeptember of each and every year.\n * NB Authority ceased to exist 06/01/1976\n * NB There are 2 § 1599-hhh's\n