N.Y. Public Authorities Law § 2704: Powers of the authority

§ 2704. Powers of the authority. Except as otherwise limited by this

title, the authority shall have power:

1. to make and alter by-laws for the regulation of its affairs and the

conduct of its business;

2. to adopt an official seal and alter the same at pleasure;

3. to maintain a principal office in the city of Watertown, and

regional offices at such place or places as it may designate within the

participating counties;

4. to sue and be sued;

5. to make and execute contracts and all other instruments necessary

or convenient for the exercise of its powers and functions under this

title;

6. pursuant to a plan approved, or amended and approved, pursuant to

section twenty-seven hundred five of this title, in connection with any

project, to determine the feasibility, location and character of such

project and to acquire, construct, or to acquire any interest in or

right to capacity in, and to reconstruct, renovate, replace, maintain,

repair, enlarge, extend, operate, lease, as lessee or lessor, and

regulate such project, to enter into contracts for any or all of such

purposes, to enter into contracts for the management and operation of a

project and, to enter into contracts for any or all of such purposes,

including contracts for the management and operation of such project and

to sell, lease, mortgage or otherwise dispose of any project or part

thereof to the state, any person, public corporation or municipality;

7. to borrow money and to issue bonds of the authority for any of its

corporate purposes, to secure the same with its revenues or other funds

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

provide for the rights of holders thereof and to fund or refund the

same.

8. to make contracts and to execute all necessary or convenient

instruments, including evidences of indebtedness, negotiable or

nonnegotiable in each case for securing its bonds or to provide direct

payment of any costs which the authority is authorized to pay;

9. subject to any limitation imposed or authorized by law, to fix and

revise from time to time and charge and collect rates, rents, fees and

charges for the use of and for the services furnished or to be furnished

by a project or any portion thereof and to contract with any person,

partnership, association or authority or other body public or private

including a public corporation in respect thereof provided, however,

that the authority shall not have the power, within any city, to collect

rentals, charges, rates or fees from the owners of real estate, or the

occupants of real estate (other than the occupants of premises owned or

controlled by such authority, or by the state or any civil division

thereof), for services or facilities furnished or supplied in connection

with such real estate, if such services or facilities are of a character

or nature that as of the enactment of this act or formerly were

furnished or supplied by the city, unless the electors of the city shall

approve the granting to such authority of such powers by a majority vote

at a general or special election in such city;

10. pursuant to a plan approved, or amended and approved, pursuant to

section twenty-seven hundred five of this title and upon approval by

resolution of the governing body of the county in which such property is

located, to condemn, in the name of the authority, pursuant to the

eminent domain procedure law, any real property within the participating

counties required by the authority for any project to carry out the

powers granted by this title;

11. to employ consulting engineers, architects, attorneys,

accountants, construction and financial experts, superintendents,

managers, and such other agents as may be necessary in its judgment, and

to fix their compensation;

12. pursuant to a plan approved, or amended and approved, pursuant to

section twenty-seven hundred five of this title, to assist in the

planning, development and construction of and the financing of, the cost

of any project whether or not such project is to be owned or operated by

the authority, including any project as defined in title one of article

eighteen-A of the general municipal law, provided, however, that the

authority shall not assist in the construction of or financing of the

cost of a project as defined in title one of article eighteen-A of the

general municipal law unless such project has first been approved by

resolution of the governing body of each municipality in which such

project is located;

13. to receive and accept loans, grants, aid in any form, gifts or

contributions from any source of either money, property, labor or other

things of value and, subject to the provisions of this title, to comply

with the terms and conditions thereof;

14. to enter into any lease of or to mortgage any property, project

and the site thereof;

15. subject to any agreement with the holders of its bonds, to invest

moneys of the authority not required for immediate use in obligations of

the state or the United States or obligations the principal and interest

of which are guaranteed by the state or the United States or in

certificates of deposit or time deposits secured in such manner as the

authority shall determine, or in obligations of any agency of the state

or the United States which may from time to time be legally purchased by

savings banks within the state as an investment of funds belonging to

them or in their control, or in any other obligations in which the

comptroller of the state is authorized to invest pursuant to section

ninety-eight of the state finance law or any successor provision of law;

16. subject to any agreement with the holders of its bonds, to

purchase bonds, of the authority out of any funds or moneys of the

authority available therefore, and to hold, cancel or resell the bonds;

17. to contract to render and to render such services to the United

States, or any public agency, public authority, municipality or

political subdivision of the state, as the United States, such public

agency, public authority, municipality or political subdivision shall

request, with respect to the custody, administration, management or

servicing of obligations, projects and property of such entity,

including but not limited to the use of the premises, personnel and

property of the authority, and may provide for reimbursement to the

authority for any expenses necessarily incurred by the authority in

rendering such services;

18. to appoint such officers, employees and agents as it may require,

prescribe their duties and qualifications and fix their compensation;

19. to establish such reserves as the authority deems necessary or

appropriate;

20. to acquire by lease, purchase or gift, hold and dispose of real

and personal property (whether tangible or intangible), which are

located within the state, or any interest therein, for its corporate

purposes, and, subject to any agreement with the holders of its bonds,

to sell any mortgage or loan or other personal property acquired by the

authority, at a public or private sale and at such price or prices as it

shall determine;

21. to enter into agreements, in its discretion, to pay annual sums in

lieu of taxes to any municipality, political subdivision or taxing

district of the state in respect of any real property which is owned by

the authority and located in such municipality, political subdivision or

taxing district;

22. to contract with persons, municipalities and the United States for

the use of projects and for the fixing and collection of rates, rentals,

fees and other charges for the use of such projects, or services

rendered by, or any commodities furnished by the authority so as to

provide revenues sufficient at all times to pay, as the same shall

become due, the principal and interest on the bonds, notes or other

obligations of the authority together with the maintenance of proper

reserves therefor, in addition to paying, as the same shall become due,

the expenses of operating and maintaining the properties of the

authority, together with proper reserves for debt service, depreciation,

maintenance and contingencies and all other obligations and indebtedness

of the authority;

23. to coordinate the activities of state agencies and authorities to

provide community facilities in the region;

24. to participate in federal programs for the insurance of loans

including programs which require the authority to share any loss arising

out of any loan insured by the federal government; and

25. to do all things necessary or convenient to carry out the purposes

of the authority.