N.Y. Public Authorities Law § 2464: General powers of the authority

* § 2464. General powers of the authority. 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 acquire, hold and dispose of personal property for its corporate

purposes, including the power to purchase prospective or tentative

awards in connection with the appropriation of real property;

4. To acquire, in the name of the authority, by purchase or

appropriation, real property or rights or easements therein necessary or

convenient for its corporate purposes, and, except as may otherwise be

provided herein, to use the same so long as its corporate existence

shall continue;

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 appoint such officers and employees as it 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, architects and private consultants on a

contract basis or otherwise for rendering professional or technical

services and advice;

7. To make contracts and leases, and to execute all instruments

necessary or convenient;

8. To examine and approve all leases and agreements of a participating

municipality, relating to the sports facility;

9. To acquire, construct, reconstruct, construct additions to,

improve, maintain and operate sports facilities including, but not

limited to, buildings, structures, parking and other facilities

ancillary or appurtenant to such sports facilities as may be necessary

or convenient until responsibility therefor may be transferred to the

participating municipality;

10. To contract for and 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 any agency or instrumentality thereof, or from any other source,

public or private, and to comply, subject to the provisions of this

title, with the terms and conditions thereof;

11. To fix and collect any payments, fees and other charges for the

use of the sports facility subject to and in accordance with such

agreements with bondholders as may be made as hereinafter provided;

12. To borrow money and issue negotiable bonds and notes or other

obligations and to provide for and secure the payment thereof and to

provide for the rights of the holders thereof;

13. To invest any funds held in reserve or sinking funds, or any

moneys not required for immediate use or disbursement, at the discretion

of the authority, in (a) obligations of the state or the United States

government, its agencies and instrumentalities, (b) obligations the

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

United States government, (c) certificates of deposit of banks or trust

companies in this state, secured, if the authority shall so require, 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, and (d) as to the

said reserve and sinking funds, other securities in which the trustee or

trustees of any public retirement system or pension fund has the power

to invest the moneys thereof pursuant to article four-a of the

retirement and social security law, each such reserve and sinking fund

being treated as a separate fund for the purposes of the said article

four-a of the retirement and social security law;

14. 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;

15. 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;

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

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

Notwithstanding the foregoing provisions of this section, no power

granted under this title shall be exercised by the authority without the

prior submission of a plan to it by a participating municipality in

accordance with the provisions of section twenty-four hundred sixty-five

hereof.

* NB (Disbanded March, 1980)