1. The authority shall establish and maintain a system of accounts to show at all
times the cost of the several classes of property used in operation and the sources
of funds used in the acquisition of such property; the several classes of operating
revenue and other income; maintenance expenses, interest, and all other charges. To the extent consistent with this title, such accounts shall be kept in accordance
with the appropriate uniform system of accounts prescribed by the public service commission
and shall be published monthly in the city record.
2. The moneys of the authority shall be deposited daily in banks to be designated
by the authority. Deposits may be secured by obligations of or guaranteed by the United States, the
state, or any municipal corporation of the state or in such other manner as the authority
may provide, and all banks and trust companies are authorized to give such security
for such deposits. The comptroller shall have the power from time to time, to examine the accounts,
books and any other records or papers relating to the financial condition of the authority,
which examination shall not preclude examination of such matters by any other authorized
officer or body.
3. Payments or withdrawals of moneys of the authority shall be made by checks drawn
and signed by a member or an officer of the authority, duly authorized by resolution
of the board.
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