N.Y. PBA Law § 2314

§ 2314. Moneys of the authority. All moneys of the authority, from\nwhatever source derived, shall be paid to the treasurer of the city as\nagent of the authority, who shall not commingle such moneys with any\nother moneys. Such moneys shall be deposited in a separate bank account\nor accounts. The moneys in such accounts shall be paid out by the\ntreasurer on requisition of the chairman of the authority or of such\nperson as the authority may authorize to make such requisitions. All\ndeposits of such moneys shall, if required by the treasurer or the\nauthority, be secured by obligations of the United States or the state\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\nsuch deposits. The treasurer 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. The authority shall have\npower, notwithstanding the provisions of this section, to contract with\nthe holders of any of its bonds as to the custody, collection, securing,\ninvestment and payment of any moneys of the authority or any moneys held\nin trust or otherwise for the payment of bonds or in any way to secure\nbonds, and to carry out any such contract notwithstanding that such\ncontract may be inconsistent with the previous provisions of this\nsection. Moneys held in trust or otherwise for the payment of bonds or\nin any way to secure bonds and deposits of such moneys may be secured in\nthe same manner as moneys of the authority, and all banks and trust\ncompanies are authorized to give such security for such deposits. The\naccounts of the authority shall be subject to the supervision of the\nstate comptroller and he or his legally authorized representatives are\nhereby authorized and empowered from time to time to examine the\naccounts and books of the authority, including its receipts,\ndisbursements, contracts, sinking funds, investments and any other\nmatter relating to its financial standing and fiscal affairs. The\nauthority shall render a complete annual account of its proceedings to\nthe city council at its first meeting in February of each and every\nyear.\n