N.Y. Public Authorities Law Section 364
Deposit and investment of moneys of the authority

All moneys of the authority from whatever source derived shall be paid to the comptroller as agent of the authority, who shall not commingle such moneys with any other moneys. Such moneys shall be deposited in a separate bank account or accounts. The moneys in such accounts shall be paid out on check of the comptroller on requisition of the chairman of the authority or of such other person as the authority may authorize to make such requisition. All deposits of such moneys shall, if required by the comptroller or the authority, be secured by obligations of the United States or of the state of New York of a market value equal at all times to the amount of the deposit and all banks and trust companies are authorized to give such security for such deposits. The comptroller and his legally authorized representatives are hereby 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 matters relating to its financial standing. Notwithstanding the provisions of this section, the authority shall have power, subject to the approval of the comptroller, to contract with the holders of any of its notes or bonds as to the custody, collection, securing, investment and payment of any moneys of the authority, or any moneys held in trust or otherwise for the payment of notes or bonds or in any way to secure notes or bonds, and to carry out any such contract. Moneys held in trust or otherwise for the payment of notes or bonds or in any way to secure notes or 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. Moneys of the authority not required for immediate use may, in the discretion of the authority, be invested by the comptroller in obligations in which the comptroller may invest pursuant to 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 agreements with noteholders and bondholders and the approval of the comptroller, the authority shall prescribe a system of accounts.

Source: Section 364 — Deposit and investment of moneys of the authority, https://www.­nysenate.­gov/legislation/laws/PBA/364 (updated Sep. 22, 2014; accessed Nov. 29, 2025).

350
Short title 351
Definitions 352
New York State thruway authority 353
Purposes of the authority and benefits therefrom 354
Powers of the authority 355
Officers and employees 356
Thruway sections and connections 356–A
Names and designations of thruway sections and connections 356–B
Thruway to be designated as a section of a national network of Blue Star memorial highways 357
Right of authority to use state property 357–A
State police and state payment for services 357–B
Sharing employees, services and resources 357–C
Indemnification and defense under shared services agreement 358
Acquisition of real property by the commissioner 358–A
Acquisition of real property by the authority 359
Construction, reconstruction and improvement 359–A
Procurement contracts 360
Operation and maintenance 361
Traffic control 361–A
Restriction and regulation of advertising devices 361–B
Jurisdiction in certain suits against the authority 361–C
Tourist information facilities 361–D
Agreement with the office of parks, recreation and historic preservation 362
Assistance by state officers, departments, boards, divisions and commissions 363
Annual report 364
Deposit and investment of moneys of the authority 365
Notes or bonds of the authority 366
Guaranty by the state 367
State’s right to require redemption of bonds 368
Remedies of noteholders and bondholders 369
Liability of state 370
Notes and bonds legal investments for public officers and fiduciaries 371
Tax exemption 372
Tax covenant 373
Agreement of the state 374
Title not affected if in part unconstitutional 375
Inconsistent provisions in other acts superseded 376
Further additional powers of the authority 377
Provision for servicing state vehicles with petroleum, etc 378
Specially priced commuter tickets 378–A
Emergency service permits 379
Further additional powers of the authority to finance certain repayment obligations of the state in connection with the purchase of real ... 380
Further additional powers of the authority to finance certain local highway and bridge improvements and payments to the authority 381
Further additional powers of the authority 384
Additional powers of the authority to undertake and finance certain transportation projects 385
Additional powers of the authority to issue special dedicated highway and bridge trust fund bonds 386
Additional powers of the authority to issue special rail and aviation transportation bonds 386–A
Financing of metropolitan transportation authority (MTA) transportation facilities 386–B
Financing of peace bridge and transportation capital projects 387
Fees for searches and copies of accident and accident reconstruction reports 388
Limitation on powers of the authority 389
Information concerning services for human trafficking victims in facilities at service areas
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Verified:
Nov. 29, 2025

Last modified:
Sep. 22, 2014

§ 364. Deposit & investment of moneys of the authority's source at nysenate​.gov

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