§ 2050-k. Moneys of the agency. All moneys of the agency from whatever
source derived shall be paid to the treasurer of the agency and shall be
deposited forthwith in interest-bearing accounts 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 or of the state or
of the county or any municipality 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 agency 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 agency or any moneys held in
trust or otherwise for the payment of bonds or in any way to secure
bonds and 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 agency and all banks and trust companies are authorized to
give such security for such deposits. Any moneys of the agency not
required for immediate use or disbursement may, at the discretion of the
agency, 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 agency shall prescribe a system of accounts.