All moneys of the agency from whatever source derived shall be paid to the treasurer
of the agency and shall be deposited forthwith in a bank or banks in the state designated
by the agency. The moneys in such accounts shall be paid out on check of the treasurer upon requisition
by the agency or of such other person or persons as the agency may authorize to make
such requisitions. All deposits of such moneys shall be secured by obligations of the United States
or of the state or of the town 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. To the extent practicable, consistent with the cash requirements of the agency,
all such moneys shall be deposited in interest bearing accounts. The agency shall have power, notwithstanding the provisions of this section, to
contract with the holders of any of its bonds or notes as to the custody, collection,
security, investment and payment of any moneys of the agency, or any moneys held in
trust or otherwise for the payment of bonds or notes or in any way to secure bonds
or notes, 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 notes or in any way
to secure bonds or notes and deposits of such moneys may be secured in the same manner
as moneys of the agency and all banks and trust companies are authorized to give such
security for such deposits. Subject to any agreements with the holders of any of its bonds or notes, any moneys
of the agency not required for immediate use or distribution may, at the discretion
of the agency, be invested in those obligations specified pursuant to the provisions
of section ninety-eight-a of the state finance law. Subject to any agreements with the holders of any of its bonds or notes, the agency
with the approval of the state comptroller shall prescribe a system of accounts.
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