N.Y. Public Authorities Law § 3235: General powers of the corporation

§ 3235. General powers of the corporation. The corporation shall have

the following powers in addition to those specially conferred elsewhere

in this title:

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 internal

management and, subject to agreements with bondholders or noteholders,

to make rules and regulations governing the use of its property and

facilities;

4. to make and execute contracts, leases, subleases and all other

instruments or agreements necessary or convenient for the exercise of

its powers and functions under this title;

5. to purchase real or personal property necessary and convenient for

its purposes; to execute and deliver deeds for real property held in its

own name; and to sell or otherwise to dispose of such real or personal

property that, in the judgment of the corporation, is no longer

necessary for its corporate purposes;

6. to appoint officers, agents and employees, prescribe their duties

and qualifications and fix their compensations subject to the provisions

of the civil service law and any applicable collective bargaining

agreement;

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

upon it by any law, contract or other agreement;

8. to make payments to local governments in such amounts as are

provided for by this title;

9. to borrow money and, in accordance with section three thousand two

hundred thirty-six of this title, to issue bonds or notes or other

obligations in respect of amounts borrowed and to fund or refund the

same, and to provide for the rights of the holders of its obligations

subject to provisions of this title;

10. subject to the provisions of any contract with bondholders or

noteholders, 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 corporation, in obligations in which the comptroller

is authorized to invest pursuant to section ninety-eight-a of the state

finance law;

11. subject to the provisions of any contract with bondholders or

noteholders, to purchase bonds or notes of the corporation;

12. to procure insurance in such amounts and from such insurers as it

deems desirable;

13. to engage the services of consultants on a contract basis for

rendering professional and technical assistance and advice;

14. to receive and accept, and 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, the state or any agency or instrumentality thereof, or from any

other source and to comply with the terms and conditions thereof;

15. as security for the payment of the principal of and interest on

any bonds or notes issued by it pursuant to this title and any

agreements made in connection therewith and for its obligations under

bond or note facilities to pledge all or any part of its revenues or

assets;

16. to procure insurance, letters of credit or other credit

enhancement with respect to its bonds or notes issued pursuant to this

title, or facilities for the payment of tenders of such bonds or notes

or facilities for the payment upon maturity of short-term notes not

renewed;

17. to adopt, amend or rescind rules and regulations appropriate to

its corporate purposes and to enter into agreements and otherwise 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.