N.Y. Public Authorities Law § 2676-f: General powers of the authority

§ 2676-f. 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 borrow money and issue bonds for any of its corporate purposes

or its projects and to provide for the rights of the holders thereof;

4. To make and alter by-laws for its organization and management, and,

subject to agreements with its bondholders, to make and alter rules and

regulations governing the exercise of its powers and the fulfillment of

its purposes under this title;

5. To acquire by purchase, grant, lease, gift, or otherwise and to

hold and use property necessary, convenient, or desirable to carry out

its corporate purposes, and to sell, convey, mortgage, lease, pledge,

exchange, or otherwise dispose of any such property in such manner as

the authority shall determine;

6. To acquire, construct, reconstruct, lease, expand, improve,

maintain, equip, furnish, or operate one or more projects and, if

necessary, to pay or finance the cost thereof;

7. To accept gifts, grants, loans, or contributions of funds or

property or financial or other aid in any form from, and enter into

contracts or other transactions with, the federal government, the state,

the county of Albany, or any public corporation or any other source, and

to use any such gifts, grants, loans, or contributions for any of its

corporate purposes;

8. To grant options to renew any lease with respect to any project or

projects and to grant options to buy any project at such price as the

authority may deem desirable;

9. To designate the depositories of its money;

10. To establish its fiscal year;

11. To enter into contracts, agreements and leases with the federal

government, the state, the county, any person or other public

corporation and to execute all instruments necessary or convenient to

accomplishing its corporate purposes;

12. To appoint such officers, employees, and agents as the authority

may require for the performance of its duties, in coordination with the

advance Albany county alliance, and to fix and determine their

qualifications, duties, and compensation subject to the provisions of

the civil service law and any applicable collective bargaining

agreement, 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;

13. With the consent of the county executive, and in coordination with

the advance Albany county alliance, to use employees, agents,

consultants, and facilities of the county, paying the county its agreed

proportion of the compensation or costs;

14. To make and adopt 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 any actual damage done;

16. To covenant and consent that the interest on any of its bonds or

notes issued pursuant to this title shall be includable, under the

United States Internal Revenue Code of 1986, as amended or any

subsequent corresponding internal revenue law of the United States, in

gross income of the holders of the bonds or notes to the same extent and

in the same manner that the interest on bills, bonds, notes or other

obligations of the United States is includable in the gross income of

the holders thereof under such code or any such subsequent law; and

17. 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.