N.Y. Public Authorities Law § 1306: General powers of the authority

§ 1306. General powers of the authority. A. 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 and issue negotiable notes, bonds or other

obligations and to provide for the rights of the holders thereof;

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 of the state or the United States government

or obligations the principal and interest of which are guaranteed by the

state or the United States government; or certificates of deposit of

banks or trust companies or in bank or trust accounts of banks in this

state secured by obligations of the United States or of the state of New

York of a market value equal at all times to the amount of the deposit

with the approval of the Comptroller;

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;

8. To appoint a general manager, who shall serve at the pleasure of

the authority, and such officers and employees as the authority 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, management or technical

services and advice; such general manager, counsel, auditors, engineers,

and private consultants, officers and employees may not be a member of

the authority;

9. (a) Notwithstanding section one hundred thirteen of the retirement

and social security law or any other general or special law, the

authority and any of its subsidiary corporations may continue or provide

to its affected officers and employees any retirement, disability, death

or other benefits provided or required for railroad personnel pursuant

to federal or state law. Notwithstanding any provisions of the civil

service law, no officer or employee of a subsidiary corporation, of the

authority, other than a public benefit subsidiary corporation, shall be

a public officer or a public employee;

(b) The authority and any of its public benefit subsidiary

corporations may be a "participating employer" in the New York state

employees' retirement system with respect to one or more classes of

officers and employees of such authority or any such public benefit

subsidiary corporation, as may be provided by resolution of such

authority or any such public benefit subsidiary corporation, as the case

may be, or any subsequent amendment thereof, filed with the comptroller

and accepted by him pursuant to section thirty-one of the retirement and

social security law. In taking any action pursuant to this paragraph

(b), the authority and any of its public benefit subsidiary corporations

shall consider the coverages and benefits continued or provided pursuant

to paragraph (a) of this subdivision.

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 and shall

undertake feasibility studies, at such time as the authority deems best,

of merging into the authority the Port of Albany authority and of

acquiring the Albany county airport, the Schenectady county airport, the

United Traction Company, the Schenectady Transportation Corporation or

any successor entities.

11. To enter upon such lands, waters or premises as in the judgment of

the authority may be necessary, convenient or desirable for the purpose

of making surveys, soundings, borings and examinations to accomplish any

purpose authorized by this title, the authority being liable for actual

damage done;

12. The authority may conduct investigations and hearings in the

furtherance of its general purposes, and in aid thereof have access to

any books, records or papers relevant thereto; and if any person whose

testimony shall be required for the proper performance of the duties of

the authority shall fail or refuse to aid or assist the authority in the

conduct of any investigation or hearing, or to produce any relevant

books, records or other papers, the authority is authorized to apply for

process of subpoena, to issue out of any court of general original

jurisdiction whose process can reach such person, upon due cause shown;

13. To do all things necessary, convenient or desirable to carry out

its purposes and for the exercise of the powers granted in this title.

14. To enter into collective bargaining agreements with labor

representatives duly elected by the employees of the authority.

15. To insure or provide for the insurance of the authority's property

or operations as required by law and also against such other risks as

the authority may deem advisable.

B. The authority shall file in the office of the commissioner and with

the legislative bodies of each county in the district annual reports,

after the close of each of the authority's fiscal years, which shall be

open to public inspection. Such reports shall include, in addition to

any information which the commissioner may require, a statement with

respect to its operations including the following data:

(a) Cost breakdown of real property acquired for each system or

facility acquired or operated by the authority;

(b) Cost breakdown in appropriate units of facilities acquired or

operated by the authority;

(c) Operating revenues for each system or facility acquired or

operated by the authority;

(d) Operating expenses for each system or facility acquired or

operated by the authority.

C. The authority shall prepare and file with the commissioner and the

legislative bodies of each county in the district an annual budget

consisting of projected operating revenues and expenditures for the next

fiscal year.