N.Y. Public Authorities Law Section 1230-Q
Bonds, legal investments for fiduciaries

The bonds of the authority are hereby made securities in which all public officials and bodies of the state and all municipalities, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, and administrators, guardians, executors, trustees and other fiduciaries and all other persons whatsoever, who are not or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them. Notwithstanding any inconsistent provision of law, the bonds are also hereby made securities which may be deposited with and may be received by all public officers and bodies of this state and all municipalities for any purposes for which the deposit of bonds or other obligations of this state are now or hereafter may be authorized.

Source: Section 1230-Q — Bonds, legal investments for fiduciaries, https://www.nysenate.gov/legislation/laws/PBA/1230-Q (updated Sep. 22, 2014; accessed Feb. 1, 2025).

1230‑A
Short title 1230‑AA
Effect of inconsistent provisions 1230‑B
Definitions 1230‑C
Niagara Falls public water authority 1230‑D
Powers of the authority 1230‑E
Water board 1230‑F
General powers of the water board 1230‑G
Special enforcement powers with respect to wastewater facilities 1230‑H
Transfer of facilities by the city of Niagara Falls or any municipality 1230‑I
Agreements among the water board, the city, municipalities and the authority for the provision of projects 1230‑J
Imposition and disposition of fees, rates or charges 1230‑K
Appropriations for purposes of the water board or the authority 1230‑L
Transfer of officers and employees 1230‑M
Bonds of the authority 1230‑N
Remedies of bondholders 1230‑O
State, city, water board or municipality, other than the authority, not liable on authority bonds 1230‑P
Moneys of the authority 1230‑Q
Bonds, legal investments for fiduciaries 1230‑R
Agreement with the state 1230‑S
Exemption from taxes, assessments and certain fees 1230‑T
Actions against the water board and authority 1230‑U
Contracts 1230‑V
Code of ethics 1230‑W
Equal employment opportunity 1230‑X
Audit and annual report 1230‑Y
Limited liability 1230‑Z
Separability

Accessed:
Feb. 1, 2025

Last modified:
Sep. 22, 2014

§ 1230-Q’s source at nysenate.gov

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Location: https://newyork.public.law/laws/n.y._public_authorities_law_section_1230-q

Original Source: Section 1230-Q — Bonds, legal investments for fiduciaries, https://www.nysenate.gov/legislation/laws/PBA/1230-Q (last accessed Aug. 20, 2023).