N.Y. Public Authorities Law Section 1020-N
Deposit and investment of moneys of the authority

1.

All moneys of the authority from whatever source derived, except as otherwise authorized or provided in this title, shall be paid to the treasurer of the authority and shall be deposited forthwith in a bank or banks designated by the authority. The moneys in such accounts shall be withdrawn on the order of such person or persons as the authority may authorize. All deposits of such moneys shall be secured in accordance with § 2925 (Investments of funds by public authorities and public benefit corporations)section two thousand nine hundred twenty-five of this chapter. The state comptroller 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 not be required to pay a fee for any such examination.

2.

The authority shall have power to contract with holders of any of its bonds or notes, or any trustee therefor, as to the custody, collection, securing, investment and payment of any moneys of the authority and of any moneys held in trust or otherwise for the payment of bonds or notes, and to carry out any such contract. Moneys held in trust or otherwise for the payment of bonds or notes or in any way to secure bonds or notes and deposits of such moneys shall be secured in accordance with § 2925 (Investments of funds by public authorities and public benefit corporations)section two thousand nine hundred twenty-five of this chapter, and all banks and trust companies in the state are authorized to give such security for such deposits.

3.

Subject to agreements with noteholders and bondholders or any trustee therefor, the authority shall prescribe a uniform system of accounts in accordance with generally accepted accounting principles. * NB There are 2 § 1020-n’s

Source: Section 1020-N — Deposit and investment of moneys of the authority, https://www.­nysenate.­gov/legislation/laws/PBA/1020-N (updated Sep. 22, 2014; accessed Oct. 26, 2024).

1020
Short title 1020‑A
Declaration of legislative findings and declarations 1020‑AA
Conflicts of interest 1020‑B
Definitions 1020‑BB
Exculpation 1020‑C
Long Island power authority 1020‑CC
Authority subject to certain provisions contained in the state finance law, the public service law, the social services law and the gener... 1020‑D
Board of trustees 1020‑DD
Authority not to seek nor any subsidiary of the authority, to apply for or accept preference hydroelectricity 1020‑E
Officers and employees 1020‑EE
Nine Mile Point II 1020‑F
General powers of the authority 1020‑FF
Rates charged to veterans’ organizations 1020‑G
Powers to provide and maintain generating, transmission and resource recovery waste to energy facilities 1020‑GG
Energy plan 1020‑H
Acquisition of property, including the exercise of the power of eminent domain 1020‑HH
Green jobs-green New York on-bill recovery 1020‑I
Subsidiaries 1020‑II
Public notice before approval of utility transmission facilities 1020‑J
Notes of the authority 1020‑JJ
Energy storage deployment policy 1020‑K
Bonds of the authority 1020‑KK
Semi-annual expenditure and lobbying report 1020‑L
State and municipalities not liable on bonds or notes 1020‑LL
Pilot thermal energy network projects 1020‑M
Legal investments 1020‑MM
Prioritization of emergency services 1020‑N
Deposit and investment of moneys of the authority 1020‑O
Agreement of the state 1020‑P
Exemption from taxation 1020‑Q
Payments in lieu of taxes 1020‑R
Repayment of state appropriations 1020‑S
Public service law generally not applicable to authority 1020‑T
Authority not to construct or operate a nuclear powered facility in the service area 1020‑U
Employees of the authority not subject to the public employees’ fair employment act 1020‑V
Equal employment opportunity and minority and women owned business enterprise programs 1020‑W
Audit and annual reports 1020‑X
Authority subject to open meetings law 1020‑XX
Liberal interpretation 1020‑Y
Court proceedings 1020‑YY
Severability 1020‑Z
Corporate existence 1020‑ZZ
Inconsistent provisions of other laws superseded
Green check means up to date. Up to date

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1020-N’s source at nysenate​.gov

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