N.Y. Public Authorities Law § 1855: General powers of the authority

§ 1855. General powers of the authority. Subject to the other

provisions of this title and the provisions of any contract with

bondholders or noteholders, the authority shall have the following

powers in addition to any powers specifically conferred upon the

authority elsewhere in this title:

1. To sue and be sued.

2. To have a seal and alter the same at pleasure.

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

management.

4. To make rules and regulations governing the exercise of its

corporate powers and the fulfillment of its corporate purposes under

this title and title nine-A of this article, which shall be filed with

the department of state in the manner provided by section one hundred

two of the executive law.

5. To purchase, receive, lease or otherwise acquire, to hold in the

name of the state or otherwise, and to sell, convey, mortgage, lease,

pledge or otherwise dispose of, upon such terms and conditions as the

authority may deem advisable, real and personal property, together with

such rights and privileges as may be incidental and appurtenant thereto

and to the use thereof, including but not restricted to any real

property acquired or held by the authority pursuant to the provisions of

section eighteen hundred fifty-six of this title and any real or

personal property acquired by the authority in the satisfaction of

obligations contained in contracts, leases or other arrangements.

6. To enter into contracts, leases or other arrangements providing for

the establishment, operation, development and management of any property

or facility under the jurisdiction of the authority.

7. To enter into contracts, leases or other arrangements permitting

any person to use any property or facility under the jurisdiction of the

authority; permitting such person to build or add facilities or

improvements upon such property or facility; and providing, at the

discretion of the authority, for the acquisition by the authority of any

such facilities or improvements built or added by such person, upon such

terms and conditions as the authority may deem advisable.

8. To sell or otherwise make available, upon such terms and conditions

as the authority may deem advisable, any product, by-product or service

produced in or provided by any facility under its jurisdiction.

9. To fix and collect fees, rentals and charges for the use of any

property or facility under its jurisdiction, or for the sale of any

product, by-product or service produced in or provided by any such

facility, and to establish the rights and privileges created upon

payment thereof. Such fees, rentals and charges shall be established by

the authority so as to produce, in the judgment of the authority,

revenues sufficient, together with any other funds available to the

authority, to meet the expenses of maintenance and operation of the

facilities of the authority, to repay any moneys repayable to the state,

to fulfill the terms of agreements with the holders of its bonds, notes

or other obligations, and to provide funds for such other corporate

purposes as the authority may deem appropriate.

10. To enter into any contracts and to execute all instruments

necessary or convenient for the exercise of its corporate powers and the

fulfillment of its corporate purposes under this title.

11. To borrow money and to issue bonds, notes or other obligations and

to provide for the rights of the holders thereof.

12. To enter into agreements to pay annual sums in lieu of taxes to

any municipality or taxing district of the state in respect of any real

property which is owned by the authority, leased by the authority to a

person and located in such municipality or taxing district, provided,

however, that the amount so paid for any year upon any such property

shall not exceed the sum last paid as taxes on such property to such

municipality or taxing district prior to the time of its acquisition by

the authority.

13. To procure insurance, or obtain indemnification from the federal

government or other persons, against any loss in connection with the

assets of the authority and any liability in connection with the

activities of the authority, such insurance or indemnification to be

procured or obtained in such amounts, and from such sources, as the

authority deems to be appropriate.

14. To accept any gifts or grants or loans of funds or property or

financial or other aid in any form from the federal government or any

agency or instrumentality thereof or from the state or from any other

source and to comply, subject to the provisions of this title, with the

terms and conditions thereof.

15. To enter into any lands, waters or premises for the purpose of

making borings, soundings, surveys or other investigations necessary to

the purposes of the authority or to public health and safety.

16. To engage the services of bond counsel, financial advisors,

accountants, engineers, attorneys and other private consultants on a

contract basis for rendering professional and technical assistance and

advice.

17. To do all things necessary or convenient to carry out its

corporate purposes and exercise the powers given and granted by this

title.