N.Y. Public Authorities Law Section 2041-J
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 interest-bearing accounts 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, the state, or the participating counties, 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 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.

Source: Section 2041-J — Moneys of the authority, https://www.nysenate.gov/legislation/laws/PBA/2041-J (updated Sep. 22, 2014; accessed Apr. 12, 2025).

2041
Short title 2041–A
Definitions 2041–B
Montgomery, Otsego, Schoharie solid waste management authority 2041–C
Advances on behalf of authority 2041–D
Powers of the authority 2041–E
Governmental capacity of the authority and municipalities 2041–F
Transfer of officers and employees 2041–G
Bonds of the authority 2041–H
Remedies of bondholders 2041–I
State, county and municipalities not liable on authority bonds 2041–J
Moneys of the authority 2041–K
Bonds legal investment for fiduciaries 2041–L
Agreement with state 2041–M
Exemption from taxes, assessments and certain fees 2041–N
Actions against authority 2041–O
Contracts 2041–P
Interest in contracts prohibited 2041–Q
Audit and annual report 2041–R
Limited liability 2041–S
Agreements with the participating counties 2041–T
Special powers of participating counties and municipalities 2041–U
Solid waste reserve fund 2041–V
Transfer of environmental applications, proceedings, approvals and permits 2041–W
Dissolution 2041–X
Separability 2041–Y
Effect of inconsistent provisions

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N.Y. Public Authorities Law Section 2041-J Moneys of the authority

N.Y. Public Authorities Law Section 2041-J
Moneys of the authority