New York § 2506 Moneys of the authority

New York Statutes

§ 2506 — Moneys of the authority

New York § 2506

Law PBAPublic Authorities

Title 25New York City Sports Authority

Art. 8Miscellaneous Authorities

This text of New York § 2506 (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 § 2506 (2026).

Text

* § 2506. Moneys of the authority.

1.Subject to the provisions of\nthis title, the members of the authority shall receive, accept, invest,\nadminister, expend and disburse for its corporate purposes all monies\nfor the authority from whatever sources derived.\n 2. The monies of the authority shall be paid to the comptroller as the\nagent of the authority, who shall designate depositories and who shall\nnot commingle such moneys with any other moneys. Such moneys shall be\ndeposited in a separate bank account or accounts. The moneys in such\naccount or accounts shall be paid out on checks by the comptroller on\nrequisitions of the chairman of the board of directors of the authority\nor of such other person or persons as the authority may authorize to\nmake such requisitions after audit

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* § 2506. Moneys of the authority. 1. Subject to the provisions of\nthis title, the members of the authority shall receive, accept, invest,\nadminister, expend and disburse for its corporate purposes all monies\nfor the authority from whatever sources derived.\n 2. The monies of the authority shall be paid to the comptroller as the\nagent of the authority, who shall designate depositories and who shall\nnot commingle such moneys with any other moneys. Such moneys shall be\ndeposited in a separate bank account or accounts. The moneys in such\naccount or accounts shall be paid out on checks by the comptroller on\nrequisitions of the chairman of the board of directors of the authority\nor of such other person or persons as the authority may authorize to\nmake such requisitions after audit by the comptroller in the manner\nprovided by the New York city charter. All deposits of such moneys\nshall, if required by the comptroller or the authority, be secured by\nobligations of the United States or of the state or of the city of a\nmarket value equal at all times to the amount of the deposit, and all\nbank and trust companies are authorized to give such security for such\ndeposits. The comptroller and his legally authorized representative are\nauthorized and empowered from time to time to examine the accounts and\nbooks of the authority, including its receipts, disbursements,\ncontracts, leases, investments and any other records and papers relating\nto its financial standing.\n * NB (Discontinued-Board of Directors never appointed)\n