N.Y. Pub. Auth. Law § 3868

§ 3868. Bonds, notes or other obligations legal for investment and\ndeposit. The bonds, notes or other obligations of the authority are\nhereby made securities in which all public officers and bodies of the\nstate and all public corporations, municipalities and municipal\nsubdivisions, all insurance companies and associations and other persons\ncarrying on an insurance business, all banks, bankers, trust companies,\nsavings banks and savings associations including savings and loan\nassociations, building and loan associations, investment companies and\nother persons carrying on a banking business, all administrators,\nconservators, guardians, executors, trustees and other fiduciaries, and\nall other persons whatsoever who are now or may hereafter be authorized\nto invest in bonds, notes or other obligations of the state, may\nproperly and legally invest funds, including capital, in their control\nor belonging to them. The bonds, notes or other obligations are also\nhereby made securities which may be deposited with and may be received\nby all public officers and bodies of the state and all municipalities\nand public corporations for any purpose for which the deposit of bonds,\nnotes or other obligations of the state is now or may hereafter be\nauthorized.\n