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This entry was published on 2014-09-22
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SECTION 205
Moneys of the authority
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 2, TITLE 4
* § 205. Moneys of the authority. All moneys of the authority from
whatever source derived shall be paid to the comptroller as agent of the
authority, who shall not commingle such moneys with any other moneys.
Such moneys shall be deposited in a separate bank account or accounts.
The moneys in such accounts shall be paid out on check of the
comptroller on requisition of the president of the authority or of such
other person or persons as the authority may authorize to make such
requisitions. All deposits of such moneys shall, if required by the
comptroller or the authority, be secured by obligations of the United
States or of the state of New York of a market value equal at all times
to the amount of the deposit and all banks and trust companies are
authorized to give such security for such deposits. The comptroller and
his legally authorized representatives are hereby authorized and
empowered from time to time to examine the accounts and books of the
authority, including its receipts, disbursements, contracts, leases,
sinking funds, investments and any other matters relating to its
financial standing. This section shall not be construed as limiting the
power of the authority to agree as to the custody and disposition of
moneys or fees and revenues for the security of its bonds.

* NB (Abolished in 1975)