New York § 1599-HHH*2 Moneys of the authority

New York Statutes

§ 1599-HHH*2 — Moneys of the authority

New York·Law PBA Public Authorities·Title 16* Jamestown Parking Authority·Art. 7 Parking Authorities

  * § 1599-hhh. Moneys of the authority. All moneys of the authority\nshall be paid to the city comptroller 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 city comptroller on\nrequisition of the chairman of the authority or of such other person or\npersons as the authority may authorize to make such requisitions after\naudit by the city comptroller. All deposits of such moneys shall, if\nrequired by the city comptroller 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 a

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* § 1599-hhh. Moneys of the authority. All moneys of the authority\nshall be paid to the city comptroller 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 city comptroller on\nrequisition of the chairman of the authority or of such other person or\npersons as the authority may authorize to make such requisitions after\naudit by the city comptroller. All deposits of such moneys shall, if\nrequired by the city comptroller 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 city comptroller 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 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.\n The accounts of the authority shall be subject to the supervision of\nthe state comptroller.\n * NB Authority ceased to exist 04/01/1977\n * NB There are 2 § 1599-hhh's\n

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