§ 3636. 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out or withdrawn on the order of such person or persons as the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 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. 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.