NY Pub Auth L § 2799-HH (2021)
2021 New York Laws PBA - Public Authorities Article 8 - Miscellaneous Authorities Title 33 - New York City Transitional Finance Authority 2799-HH - Resources of the Authority.

§  2799-hh.  Resources of the authority. 1.  Subject to the provisions   of this title, the directors of the  authority  shall  receive,  accept,   invest,  administer,  expend and disburse for its corporate purposes all   money of the authority  from  whatever  sources  derived  including  (a)   payments  by  the  state  comptroller  pursuant  to  this title; (b) the   proceeds of bonds; and (c) any other payments, gifts, or  appropriations   to the authority from any other source.2.    Subject  to the provisions of any contract with bondholders, (a)   the money of the authority shall be paid to the authority and shall  not   be  commingled  with  any other money, and (b) all money received by the   authority which, together with other money of  the  authority  available   for the operating expenses of the authority, the payment of debt service   and  payments  to  reserve  funds,  exceeds the amount required for such   purposes shall be transferred to the city on or before the last  day  of   each month.3.   The money in any of the authority's accounts shall be paid out on   checks signed by the treasurer, or by other lawful and appropriate means   such as wire or electronic transfer, on requisitions of the  chairperson   of  the  authority  or  of  such  other  officer  as the directors shall   authorize to make such requisition, or pursuant to a bond resolution  or   trust indenture.4.  All deposits of authority money shall be secured by obligations of   the United States or of the state or of the city at 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  or  her  legally  authorized  representative  are   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 records  and   papers  relating to its financial standing. The authority shall have the   power, notwithstanding the provisions of this section, to contract  with   the holders of any of its bonds as to the custody, collection, securing,   investment  and  payment of any money of the authority or any money held   in trust or otherwise for the payment of bonds or in any way  to  secure   bonds,  and  to  carry  out  any such contract notwithstanding that such   contract may be inconsistent with the other provisions  of  this  title.   Money  held in trust or otherwise for the payment of bonds or in any way   to secure bonds and deposits of such money may be secured  in  the  same   manner  as money of the authority, and all banks and trust companies are   authorized to give such security for such deposits.5. Tax revenues received by the authority pursuant to section thirteen   hundred thirteen of the tax law, together with any alternative  revenues   received  by  the  authority, shall be applied in the following order of   priority: first pursuant to the authority's contracts with  bondholders,   then  to  pay  the authority's operating expenses not otherwise provided   for, and then pursuant to the  authority's  agreements  with  the  city,   which  agreements shall require the authority to transfer the balance of   such taxes not required to meet contractual or other obligations of  the   authority to the city as frequently as practicable.