2023 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 subsection (d)
  of section eight hundred  seventy-three,  or  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.