N.Y. Pub. Auth. Law § 2642-E

Current through 2024 NY Law Chapter 553

Section 2642-E - General powers of the authority

Except as otherwise limited by this title, the authority shall have power:

1. To sue and be sued;

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

3. To borrow money;

4. To invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursement, at the discretion of the authority, in obligations in which the state comptroller may invest pursuant to section ninety-eight or ninety-eight-a of the state finance law;

5. To make and alter by-laws for its organization and internal management, and rules and regulations governing the exercise of its powers and the fulfillment of its purposes under this title;

6. To enter into contracts and leases and to execute all instruments necessary or convenient;

7. To acquire, hold and dispose of real or personal property in the exercise of its powers for its corporate purposes;

8. The authority may, whenever it shall determine that it is not in conflict with the interests or purposes of the authority, rent, lease or grant easements or other rights in, any land or property of the authority, including the granting of municipal utility easements;

9. To appoint such officers and employees as it may require for the performance of its duties, and to fix and determine their qualifications, duties, and compensation and to retain or employ counsel, auditors, engineers and private consultants on a contract basis or otherwise for rendering professional or technical services and advice; such counsel, auditors, engineers, and private consultants, officers and employees may not be a member of the authority;

10. To make plans, surveys, and studies necessary, convenient or desirable to the effectuation of the purposes and powers of the authority and to prepare recommendations in regard thereto;

11. To contract for and accept any gifts or grants, subsidies or loans of funds or property or financial or other aid in any form from the federal or state government or Commonwealth government or any agency or instrumentality thereof, or from any other source, public or private, and to comply, subject to the provisions of this title, with the terms and conditions thereof;

12. To designate the depositories of its money;

13. To establish its fiscal year; and

14. To do all things necessary or convenient or desirable to carry out its purposes and exercise the powers expressly given in this title.

N.Y. Pub. Auth. Law § 2642-E