N.Y. Public Authorities Law § 2756: General powers of the authority

§ 2756. 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, condemnation pursuant

to the provisions of the eminent domain procedure law with the approval

of the county, 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, operate one or more projects and, if

necessary, to pay or finance the cost thereof;

7. to apply for and 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 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, 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 to use employees, agents,

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

proportion of the compensation or costs;

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. the authority may covenant and consent that the interest on any of

its bonds or notes issued pursuant to this title shall be includible,

under the United States Internal Revenue Code of 1986, 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 includible in the gross income of the holders

thereof under said Internal Revenue Code or any such subsequent law;

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

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

18. 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.