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 authority. The moneys in such accounts shall be paid out on check of the treasurer upon requisition
by the chairman of the authority or of such other officer or officers as the authority
may authorize to make such requisitions. All deposits of such moneys shall be secured by obligations of or guaranteed by
the United States, or of the state or of the city 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. 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
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