N.Y. Public Authorities Law § 1331: General powers of the authority

§ 1331. 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 in certificates of deposit or

other interest bearing depository accounts in banks or trust companies

in this state if the certificate or account is secured by obligations of

the United States or of the state of a market value equal at all times

to the amount of the deposit;

5. To make and alter by-laws for its organization and internal

management, and rules and regulations governing the exercise of its

powers and 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;

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 prepare and file with the commissioner and each

county of the transportation district an annual budget consisting of

projected operating revenues and expenditures for the next fiscal year.

C. The authority shall file in the office of the commissioner 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 operation 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 for

each facility acquired or operated by the authority;

(c) Operating revenues for each facility acquired or operated by the

authority;

(d) Operating expenses for each facility acquired or operated by the

authority.

The authority shall also file copies of such reports with the

legislative body or bodies of the city of Syracuse and all counties

where such authority operates. In addition, the commissioner may request

the authority to file interim reports with him containing such

information which he may require and the authority shall file such

reports.