2049-K - Moneys of the authority.

§  2049-k.  Moneys  of the authority. All moneys of the authority from  whatever source derived shall be paid to the treasurer of the  authority  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, the state or the town 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 authority 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  authority  or any moneys held in trust or otherwise for the payment  of bonds or in any way to secure  bonds,  and  to  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 authority and  all banks and trust companies are authorized to give such  security  for  such  deposits.  Any  moneys of the authority not required for immediate  use or disbursement may, at the discretion of the authority, 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 authority shall prescribe a system of accounts.