New York § 205 Moneys of the authority

New York Statutes

§ 205 — Moneys of the authority

New York § 205

Law PBAPublic Authorities

Title 4Bethpage Park Authority

Art. 2Park, Parkway and Highway Authorities

This text of New York § 205 (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 § 205 (2026).

Text

  * § 205. 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

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

* § 205. 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\nauthority, including its receipts, disbursements, contracts, leases,\nsinking funds, investments and any other matters relating to its\nfinancial standing. This section shall not be construed as limiting the\npower of the authority to agree as to the custody and disposition of\nmoneys or fees and revenues for the security of its bonds.\n * NB (Abolished in 1975)\n