N.Y. SCC Law § 3

§ 3. Corporate powers. The citizens of the state of New York, from\ntime to time inhabitants of the territory comprised within the\nboundaries of the city, shall continue to be a municipal corporation in\nperpetuity under its corporate name, and the same shall in that name be\na body politic and corporate in fact and in law, with power of perpetual\nsuccession. The city shall have power:\n 1. To take, purchase, hold, lease, sell and convey such real and\npersonal property as the purposes of the corporation may require.\n 2. To take by gift, grant, bequest and devise and hold real and\npersonal estate absolutely or in trust for any public use including that\nof education, art, ornament, health, charity or amusement, for parks or\ngardens, or for the use or erection of statues, monuments, buildings or\nstructures, upon such terms or conditions as may be prescribed by the\ngrantor or donor and accepted by said corporation and to provide for the\nproper administration of the same.\n 3. To make, have and use, and from time to time alter, a common seal.\n 4. To contract and be contracted with, to sue and be sued, to complain\nand defend and to institute, prosecute, maintain and defend any action\nor proceeding in any court.\n 5. To have and exercise all of the rights, privileges and jurisdiction\nessential to a proper exercise of its corporate functions, including all\nthat may be necessarily incident to, or may be fairly implied from, the\npowers specifically conferred upon such corporation.\n 6. To have and exercise all the rights, privileges, functions and\npowers now prescribed and exercised by it under existing or subsequent\nlaws and not inconsistent with the provisions of this chapter.\n