N.Y. PBA Law § 2782

§ 2782. General powers of the authority. Except as otherwise limited\nby this title, the authority shall have power:\n 1. to sue and be sued:\n 2. to have a seal and alter the same at pleasure;\n 3. to borrow money and issue bonds for any of its corporate purposes\nor its projects and to provide for the rights of the holders thereof;\n 4. to make and alter by-laws for its organization and management, and,\nsubject to agreements with its bondholders, to make and alter rules and\nregulations governing the exercise of its powers and the fulfillment of\nits purposes under this title;\n 5. (a) to acquire by purchase, grant, lease, gift, or otherwise and to\nhold and use property necessary, convenient or desirable to carry out\nits corporate purposes, and to sell, convey, mortgage, lease, pledge,\nexchange or otherwise dispose of any such property in such manner as the\nauthority shall determine;\n (b) to acquire by condemnation pursuant to the provisions of the\neminent domain procedure law with the approval of the county\nlegislature;\n 6. to acquire, construct, reconstruct, lease, expand, improve,\nmaintain, equip, furnish, operate one or more projects and, if\nnecessary, to pay or finance the cost thereof;\n 7. to accept gifts, grants, loans, or contributions of funds or\nproperty or financial or other aid in any form from, and enter into\ncontracts or other transactions with, the federal government, the state\nor any public corporation or any other source, and to use any such\ngifts, grants, loans or contributions for any of its corporate purposes;\n 8. to grant options to renew any lease with respect to any project or\nprojects and to grant options to buy any project at such price as the\nauthority may deem desirable;\n 9. to designate the depositories of its money;\n 10. to establish its fiscal year;\n 11. to enter into contracts, agreements and leases with the federal\ngovernment, the state, the county, any person or other public\ncorporation and to execute all instruments necessary or convenient to\naccomplishing its corporate purposes;\n 12. to appoint such officers, employees and agents as the authority\nmay require for the performance of its duties, and to fix and determine\ntheir qualifications, duties, and compensation subject to the provisions\nof the civil service law and any applicable collective bargaining\nagreement, and to retain or employ counsel, auditors, engineers and\nprivate consultants on a contract basis or otherwise for rendering\nprofessional, management or technical services and advice;\n 13. with the consent of the county executive, to use employees,\nagents, consultants and facilities of the county, paying the county its\nagreed proportion of the compensation or costs;\n 14. to make and adopt plans, surveys, and studies necessary,\nconvenient or desirable to the effectuation of the purposes and powers\nof the authority and to prepare recommendations in regard thereto;\n 15. to enter upon such lands, waters or premises as in the judgement\nof the authority may be necessary, convenient or desirable for the\npurpose of making surveys, soundings, borings and examinations to\naccomplish any purpose authorized by this title, the authority being\nliable for actual damage done;\n 16. the authority may covenant and consent that the interest on any of\nits bonds or notes issued pursuant to this title shall be includable,\nunder the United States Internal Revenue Code of 1986, as amended (the\n"code") or any subsequent corresponding internal revenue law of the\nUnited States, in gross income of the holders of the bonds or notes to\nthe same extent and in the same manner that the interest on bills,\nbonds, notes or other obligations of the United States is includable in\nthe gross income of the holders thereof under the code or any such\nsubsequent law;\n 17
de of 1986, as amended (the\n"code") or any subsequent corresponding internal revenue law of the\nUnited States, in gross income of the holders of the bonds or notes to\nthe same extent and in the same manner that the interest on bills,\nbonds, notes or other obligations of the United States is includable in\nthe gross income of the holders thereof under the code or any such\nsubsequent law;\n 17. to do all things necessary, convenient or desirable to carry out\nits purposes and for the exercise of the powers granted in this title;\n 18. to insure or provide for the insurance of the authority's property\nor operations as required by law and also against such other risks as\nthe authority may deem advisable.\n