N.Y. Public Authorities Law § 2799-ee: General powers of the authority

§ 2799-ee. General powers of the authority. Except as otherwise

limited by this title, the authority shall have the following powers in

addition to those specially conferred elsewhere in this title, subject

only to agreements with bondholders:

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 management and,

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

regulations governing the exercise of its powers and fulfillment of its

purposes under this title;

4. to make and execute contracts and all other instruments or

agreements necessary or convenient to carry out any powers and functions

expressly given in this title;

5. to commence any action to protect or enforce any right conferred

upon it by any law, contract or other agreement;

6. to borrow money and issue bonds, or to refund the same, and to

provide for the rights of the holders of its obligations;

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

financial or other aid in any form from the city, state or federal

government or any agency or instrumentality thereof, or from any other

source and for any of its corporate purposes in accordance with the

provisions of this title;

8. to invest any funds held in reserves or sinking funds, or any funds

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

authority, in obligations which may, from time to time, be legally

purchased by the city pursuant to section eleven of the general

municipal law;

9. to pledge all or any part of its revenues as security for the

payment of the principal of and interest on any bonds so issued and any

agreements made in connection therewith;

10. 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, subject to the provisions of the civil service

law, the rules of the civil service commission of the city, the New York

city collective bargaining law and applicable collective bargaining

agreements, and to retain or employ counsel, auditors and private

financial consultants on a contract basis or otherwise for rendering

professional or technical services and advice;

11. to do any and all things necessary or convenient to carry out its

purposes and exercise the powers expressly given and granted in this

title provided, however, such authority shall under no circumstances

acquire, hold or transfer title to, lease, own beneficially or

otherwise, manage, operate or otherwise exercise control over any real

property, any improvement to real property or any interest therein other

than a lease of office space deemed necessary or desirable by the

authority.