N.Y. Public Authorities Law Section 1131*2
Moneys of the authority

All moneys of the authority from whatever source derived shall be paid to the treasurer of the authority and shall be deposited forthwith 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 of the county or of any other municipality within the county 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 authority 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 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 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 authority and all banks and trust companies are authorized to give such security for such deposits. Any moneys of the authority not required for immediate use or disbursement may, at the discretion of the authority, be invested in those obligations specified pursuant to the provisions of State Finance Law § 98-A (Investment of general funds, bond proceeds, and other funds not immediately required)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 authority shall prescribe a system of accounts. * NB There are 2 § 1131’s

Source: Section 1131*2 — Moneys of the authority, https://www.nysenate.gov/legislation/laws/PBA/1131*2 (updated Sep. 22, 2014; accessed Jan. 4, 2025).

1121*2
Short title 1122*2
Definitions 1123*2
Dutchess county water and wastewater authority 1124*2
Powers of the authority 1125*2
Appropriations for purposes of the authority 1126*2
Governmental capacity of the authority and municipalities 1127*2
Transfer of officers and employees 1128*2
Bonds of the authority 1129*2
Remedies of bondholders 1130*2
State, county nor other municipality, other than authority, not liable on authority bonds 1131*2
Moneys of the authority 1132*2
Bonds legal investments for fiduciaries 1133*2
Agreement of the state 1134*2
Exemption from taxes, assessments and certain fees 1135*2
Actions against authority 1136*2
Construction and purchase contracts 1137*2
Interest in contracts prohibited 1138*2
Authority to take affirmative action 1139*2
Audit, annual report and information 1140*2
Limited liability 1141*2
Environmental applications, proceedings, approvals and permits 1142*2
Dutchess county water district 1143*2
Separability 1144*2
Effect of inconsistent provisions

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N.Y. Public Authorities Law Section 1131*2 Moneys of the authority

N.Y. Public Authorities Law Section 1131*2
Moneys of the authority