N.Y. Pub. Auth. Law § 1232-D

Current through 2024 NY Law Chapter 553

Section 1232-D - Powers of the authority

The authority shall have the power:

1. To sue and be sued;

2. To have a seal and alter the same at pleasure;

3. To borrow money and issue bonds or other obligations and to provide for the rights of the holders thereof;

4. To finance or refinance the acquisition, design, construction, reconstruction, rehabilitation and improvement, or otherwise provide and furnish and equip facilities for the county, provided, however, that the county shall have requested such financing or refinancing;

5. To enter into contracts and to execute all instruments necessary, convenient or desirable for the purposes of the authority to carry out any powers expressly given it in this title;

6. To acquire, by purchase, gift, grant, transfer, contract or lease, lease as lessee, hold, use, and lease as lessor, sell or otherwise convey any real or personal property or any interest therein, as the authority may deem necessary, convenient or desirable to carry out the purpose of this title; provided however, that any sale or lease by the authority must be approved by the county legislature unless the proceeds therefrom are used to pay debt service on authority bonds. In connection with the purchase or lease of such properties, the authority may assume any obligations of the owner of such properties or facilities and, to the extent required by the terms of any indentures or other instruments under which such obligations were issued, the authority may assume and agree to perform covenants and observe the restrictions contained in such instruments; provided that any acquisition of any real or personal property or any interest therein from the county or any county agency, entity or subsidiary shall occur for no consideration or compensation greater than the amount necessary to defease obligations outstanding with respect to such property;

7. To apply to the appropriate agencies and officials of the federal, state and local governments for such licenses, permits or approvals of its plans or projects as it may deem necessary or advisable, upon such terms and conditions as it may deem appropriate, and to accept, in its discretion, such licenses, permits or approvals as may be tendered to it by such agencies and officials;

8. To apply for and to accept any gifts, grants or loans of funds or property, or financial or other aid in any form from the federal government or any agency or instrumentality thereof, or from the state or any agency or instrumentality thereof, or from any other source, for any or all of the purposes specified in this title, and to comply, subject to the provisions of this title, with the terms and conditions thereof;

9. To enter into agreements with the county, the state, or any other person for the financing by the authority of projects as herein provided; and

10. To do all things necessary, convenient or desirable for the exercise of the powers granted in this title.

In accordance with the legislative intent, nothing contained within this title shall be construed to affect, alter or modify the county's responsibility: (a) to provide sewerage services, (b) to provide storm water services and (c) to collect moneys generated from charges by the county related to the provision of sewerage and storm water resources services.

N.Y. Pub. Auth. Law § 1232-D