§ 2047-k. Moneys of the agency. All moneys of the agency from whatever
source derived shall be paid to the treasurer of the agency and shall be
deposited forthwith in a bank or banks in the state designated by the
governing body. The moneys in such accounts shall be paid out on check
of the treasurer upon requisition by the governing body or of such other
person or persons as the governing body may authorize to make such
requisitions. All deposits of such moneys shall be secured by
obligations of the United States or of the state or of the county or any
municipality of a market value equal at all times to the amount on
deposit and all banks and trust companies are authorized to give such
security for such deposits. The agency shall have power, notwithstanding
the provisions of this section, to contract with the holders of any
bonds as to the custody, collection, security, investment and payment of
any moneys of the agency or any moneys held in trust or otherwise for
the payment of bonds or in any way to secure bonds, and carry out any
such contract notwithstanding that such contract may be inconsistent
with the provisions of this section. Moneys held in trust or otherwise
for the payment of bonds or in any way to secure bonds and deposits of
such moneys may be secured in the same manner as moneys of the agency
and all banks and trust companies are authorized to give such security
for such deposits. Any moneys of the agency not required for immediate
use or disbursement may, at the discretion of the agency, be invested in
those obligations specified pursuant to the provisions of section
ninety-eight-a of the state finance law. Subject to the provisions of
any contract with bondholders and with the approval of the comptroller,
the agency shall prescribe a system of accounts.