New York § 2058 Moneys of the authority

New York Statutes

§ 2058 — Moneys of the authority

New York § 2058

Law PBAPublic Authorities

Title 14Broome County Sports Center Authority

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 2058 (2026).

Text

  * § 2058. Moneys of the authority. All moneys of the authority shall\nbe paid to the county treasurer as agent of the authority, who shall\ndesignate depositories and who shall not commingle such moneys with any\nother moneys. The moneys shall be deposited in a separate bank account\nor accounts. The moneys in such accounts shall be paid out on checks of\nthe treasurer on requisition of the chairman of the authority or of such\nother person or persons as the authority may authorize upon proper audit\nof the county of Broome.\n  All deposits of such moneys shall, if required by the treasurer, be\nsecured by obligations of the United States or of the state of New York,\nof a market value equal at all times to the amount of the deposit, and\nall banks and trust companies are authorized to g

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* § 2058. Moneys of the authority. All moneys of the authority shall\nbe paid to the county treasurer as agent of the authority, who shall\ndesignate depositories and who shall not commingle such moneys with any\nother moneys. The moneys shall be deposited in a separate bank account\nor accounts. The moneys in such accounts shall be paid out on checks of\nthe treasurer on requisition of the chairman of the authority or of such\nother person or persons as the authority may authorize upon proper audit\nof the county of Broome.\n All deposits of such moneys shall, if required by the treasurer, be\nsecured by obligations of the United States or of the state of New York,\nof a market value equal at all times to the amount of the deposit, and\nall banks and trust companies are authorized to give such security for\nthe deposits.\n The Broome county auditor and his legally authorized representatives\nare authorized and empowered from time to time to examine the accounts\nand books of the authority, including its receipts, disbursements,\ncontracts, leases, sinking funds, investments and any other records and\npapers relating to its financial standing.\n The authority 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 and the deposits of such moneys may be secured\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 * NB Authority dissolved September 1, 1977\n