N.Y. Education Law § 6275: General powers

§ 6275. General powers. The fund shall have the following powers in

addition to those specially conferred elsewhere in this article:

(1) to sue and to be sued;

(2) to have a seal and alter the same at its pleasure;

(3) to make and alter by-laws for its organization and internal

management;

(4) to prescribe a system of accounts, with the approval of the state

comptroller;

(5) to accept jurisdiction over and to hold, use and improve, in

accordance with such terms and conditions as the fund and the city

university shall determine any or all real property acquired by, under

the jurisdiction of, or assigned to the use of the board of higher

education for purposes of the city university, together with such rights

and privileges as may be incidental and appurtenant thereto;

(6) to purchase real property necessary or convenient for its

corporate purposes in its own name and to execute and deliver deeds for

real property held in its own name;

(7) to purchase, receive, lease or otherwise acquire personal property

necessary and convenient for its corporate purposes and to transfer,

sublease or otherwise make such personal property available to the board

of higher education or the dormitory authority or to sell or otherwise

to dispose of such personal property that, in the judgment of the fund,

is no longer necessary for its corporate purposes;

(8) subject to other provisions of law, to give, donate, transfer,

grant or lend to the city university upon such terms and conditions as

is deemed appropriate such sums of money as are not required for other

purposes;

(9) to make and execute contracts, leases, subleases and all other

instruments or agreements necessary or convenient for the exercise of

its corporate powers and purposes to an amount not exceeding one hundred

fifty thousand dollars without prior approval by any other state officer

or agency; notwithstanding the foregoing, all contracts, leases,

subleases, and all other instruments or agreements exceeding one hundred

fifty thousand dollars in amount shall be subject to section one hundred

twelve of the state finance law;

(10) with the consent of the board of higher education, to use the

agents, employees and facilities of the city university;

(11) to engage the services of construction, engineering,

architectural, legal and financial consultants, surveyors and

appraisers, on a contract basis or as employees, for professional

service and technical assistance and advice;

(12) to cause facilities to be designed, constructed, acquired,

reconstructed, rehabilitated, improved, operated, maintained, furnished

and equipped and made secure in accordance with the provisions of this

article;

(13) to procure insurance against loss in connection with any facility

in such amounts and from such insurers as it deems desirable;

(14) to accept, administer and disburse federal, state, and city aid;

and

(15) to do any and all things necessary or convenient to carry out its

corporate powers and purposes.