N.Y. PBA Law § 1557*2

* § 1557. Moneys of the authority. All moneys of the authority shall\nbe paid to the treasurer of the village as agent of the authority, who\nshall not commingle such moneys with any other moneys. Such moneys shall\nbe deposited in a separate bank account or accounts. The moneys in such\naccounts shall be paid out by the village treasurer on requisition of\nthe chairman of the authority or of such other person or persons as the\nauthority may authorize to make such requisitions after audit by the\nvillage treasurer. All deposits of such moneys shall, if required by the\nvillage treasurer or the authority, be secured by obligations of the\nUnited States or of the state of New York of a market value equal at all\ntimes to the amount of the deposit, and all banks and trust companies\nare authorized to give such security for such deposits. The village\ntreasurer and his legally authorized representatives are authorized and\nempowered from time to time to examine the accounts and books of the\nauthority, including its receipts, disbursements, contracts, leases,\nsinking funds, investments and any other records and papers relating to\nits financial standing. The authority shall have power, notwithstanding\nthe provisions of this section, to contract with the holders of any of\nits bonds as to the custody, collection, securing, investment and\npayment of any moneys of the authority or any moneys held in trust or\notherwise for the payment of bonds or in any way to secure bonds, and to\ncarry out any such contract notwithstanding that such contract may be\ninconsistent with the previous provisions of this section. Moneys held\nin trust or otherwise for the payment of bonds or in any way to secure\nbonds and deposits of such moneys may be acquired in the same manner as\nmoneys of the authority, and all banks and trust companies are\nauthorized to give such security for such deposits.\n The accounts of the authority shall be subject to the supervision of\nthe state comptroller.\n * NB Dissolved December 31, 1977\n * NB There are 2 § 1557's\n