* § 1557. Moneys of the authority. All moneys of the authority shall
be paid to the treasurer of the village 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 by the village treasurer on requisition of
the chairman of the authority or of such other person or persons as the
authority may authorize to make such requisitions after audit by the
village treasurer. All deposits of such moneys shall, if required by the
village treasurer 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 village
treasurer and his legally authorized representatives are 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 records and papers relating to
its financial standing. The authority shall have power, notwithstanding
the provisions of this section, to contract with the holders of any of
its bonds as to the custody, collection, securing, 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 previous 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 acquired in the same manner as
moneys of the authority, and all banks and trust companies are
authorized to give such security for such deposits.

The accounts of the authority shall be subject to the supervision of
the state comptroller.

* NB Dissolved December 31, 1977

* NB There are 2 § 1557's