§ 3611. Monies of the corporation. All monies of the corporation from
whatever source derived shall be paid to the treasurer of the
corporation and shall be deposited forthwith in a bank or banks
designated by the corporation. The monies in such accounts shall be paid
out or withdrawn on the order of such person or persons as the
corporation may authorize to make such requisitions. All deposits of
such monies shall be secured by obligations of the United States or of
the state or of 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. Alternatively, monies of the
corporation may be deposited in money market funds rated in the highest
short term or long term rating category by at least one nationally
recognized rating agency. To the extent practicable, consistent with the
cash requirements of the corporation, all such monies shall be deposited
in interest bearing accounts. The corporation 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 monies of the corporation or any monies held in trust
or otherwise for the payment of bonds or any way to secure bonds, and
carry out any such contract notwithstanding that such contract may be
inconsistent with the provisions of this section. Monies held in trust
or otherwise for the payment of bonds or in any way to secure bonds and
deposits of such monies may be secured in the same manner as monies of
the corporation and all banks and trust companies are authorized to give
such security for such deposits. Any monies of the corporation not
required for immediate use or disbursement may, at the discretion of the
corporation, be invested in accordance with guidelines established by
the corporation's 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 corporation shall prescribe a system of accounts.