New York § 2050-K Moneys of the agency

New York Statutes

§ 2050-K — Moneys of the agency

New York § 2050-K

Law PBAPublic Authorities

Title 13-GUlster County Resource Recovery Agency

Art. 8Miscellaneous Authorities

This text of New York § 2050-K (Moneys of the agency) 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 § 2050-K (2026).

Text

  § 2050-k. Moneys of the agency. All moneys of the agency from whatever\nsource derived shall be paid to the treasurer of the agency and shall be\ndeposited forthwith in interest-bearing accounts in a bank or banks in\nthe state designated by the governing body. The moneys in such accounts\nshall be paid out on check of the treasurer upon requisition by the\ngoverning body or of such other person or persons as the governing body\nmay authorize to make such requisitions. All deposits of such moneys\nshall be secured by obligations of the United States or of the state or\nof the county or any municipality of a market value equal at all times\nto the amount on deposit and all banks and trust companies are\nauthorized to give such security for such deposits. The agency shall\nhave power, notw

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§ 2050-k. Moneys of the agency. All moneys of the agency from whatever\nsource derived shall be paid to the treasurer of the agency and shall be\ndeposited forthwith in interest-bearing accounts in a bank or banks in\nthe state designated by the governing body. The moneys in such accounts\nshall be paid out on check of the treasurer upon requisition by the\ngoverning body or of such other person or persons as the governing body\nmay authorize to make such requisitions. All deposits of such moneys\nshall be secured by obligations of the United States or of the state or\nof the county or any municipality of a market value equal at all times\nto the amount on deposit and all banks and trust companies are\nauthorized to give such security for such deposits. The agency shall\nhave power, notwithstanding the provisions of this section, to contract\nwith the holders of any bonds as to the custody, collection, security,\ninvestment and payment of any moneys of the agency or any moneys held in\ntrust or otherwise for the payment of bonds or in any way to secure\nbonds and carry out any such contract notwithstanding that such contract\nmay be inconsistent with the provisions of this section. Moneys held in\ntrust or otherwise for the payment of bonds or in any way to secure\nbonds and deposits of such moneys may be secured in the same manner as\nmoneys of the agency and all banks and trust companies are authorized to\ngive such security for such deposits. Any moneys of the agency not\nrequired for immediate use or disbursement may, at the discretion of the\nagency, be invested in those obligations specified pursuant to the\nprovisions of section ninety-eight-a of the state finance law. Subject\nto the provisions of any contract with bondholders and with the approval\nof the comptroller, the agency shall prescribe a system of accounts.\n