N.Y. PBA Law § 364

§ 364. Deposit and investment of moneys of the authority. All moneys\nof the authority from whatever source derived shall be paid to the\ncomptroller as agent of the authority, who shall not commingle such\nmoneys with any other moneys. Such moneys shall be deposited in a\nseparate bank account or accounts. The moneys in such accounts shall be\npaid out on check of the comptroller on requisition of the chairman of\nthe authority or of such other person as the authority may authorize to\nmake such requisition. All deposits of such moneys shall, if required by\nthe comptroller 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 are\nauthorized to give such security for such deposits. The comptroller and\nhis legally authorized representatives are hereby 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 matters relating to its\nfinancial standing.\n Notwithstanding the provisions of this section, the authority shall\nhave power, subject to the approval of the comptroller, to contract with\nthe holders of any of its notes or bonds as to the custody, collection,\nsecuring, investment and payment of any moneys of the authority, or any\nmoneys held in trust or otherwise for the payment of notes or bonds or\nin any way to secure notes or bonds, and to carry out any such contract.\nMoneys held in trust or otherwise for the payment of notes or bonds or\nin any way to secure notes or bonds and deposits of such moneys may be\nsecured in the same manner as moneys of the authority, and all banks and\ntrust companies are authorized to give such security for such deposits.\n Moneys of the authority not required for immediate use may, in the\ndiscretion of the authority, be invested by the comptroller in\nobligations in which the comptroller may invest pursuant to section\nninety-eight-a of the state finance law.\n Subject to agreements with noteholders and bondholders and the\napproval of the comptroller, the authority shall prescribe a system of\naccounts.\n