New York General Municipal Code § 860

Moneys of the agency
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§ 860. Moneys of the agency. The agency shall have power to contract\nwith the holders of any of its bonds or notes as to the custody,\ncollection, securing, investment and payment of any moneys of the agency\nor any moneys held in trust or otherwise for the payment of bonds or\nnotes or in any way to secure bonds or notes and to carry out any such\ncontract. Moneys held in trust or otherwise for the payment of bonds or\nnotes or in any way to secure bonds or notes and deposits of such moneys\nmay be secured in the same manner as moneys of the agency, and all banks\nand trust companies are authorized to give such security for such\ndeposits.\n

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