§ 1570-g. Moneys of the authority. All moneys of the authority from
whatever source derived 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 money in such accounts shall be paid out by such
treasurer on requisition of the chairperson of the authority or of such
person or persons as the authority may authorize to make such
requisitions after audit by and upon the warrant of the treasurer of the
village. All deposits of such moneys shall, if required by such
treasurer or the authority, be secured by obligations of the United
States or the state of New York or of any municipality 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. To the
extent practicable, consistent with the cash requirements of the
authority, all such monies shall be deposited in interest bearing
accounts. The treasurer of the village and his or her 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. Any monies of the authority not required for
immediate use or disbursement may, at the discretion of the authority,
be invested pursuant to section ninety-eight-a of the state finance law
in accordance with guidelines established by the board and amended from
time to time. Subject to the provisions of any contract with bondholders
and with the approval of the state comptroller, the authority shall
prescribe a system of accounts.