The authority, by resolution, may provide that all moneys deposited by it shall be secured:

(1) By any securities by which funds deposited by the director of finance may be legally secured as provided in § 38-3; or
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(2) By an undertaking with sureties as are approved by the authority faithfully to keep and pay over upon the order of the authority any deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for those deposits.

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