N.Y. Public Authorities Law § 553: Powers of the authority

§ 553. Powers of the authority. The authority shall have power

1. to sue and be sued;

2. To have a seal and alter the same at pleasure;

* 3. To acquire, hold and dispose of personal property for its

corporate purposes, including, the power to dispose of personal property

with a value of five hundred thousand dollars or less by public auction

in accordance with guidelines adopted by the authority pursuant to title

five-A of article nine of this chapter. The board shall adopt guidelines

that shall provide for advertising and such other safeguards as the

authority may deem appropriate in the public interest.

* NB Effective until June 30, 2028

* 3. To acquire, hold and dispose of personal property for its

corporate purposes;

* NB Effective June 30, 2028

4. To acquire, in the name of the city, by purchase or condemnation

real property or rights or easements therein necessary or convenient for

its corporate purposes, and, except as may otherwise be provided herein,

to use the same so long as its corporate existence shall continue;

4-a. Whenever any real property is determined by the authority to be

unnecessary for its corporate purpose.

(a) to surrender such real property to the board of estimate of the

city for other public use or purpose of such city, or

(b) to sell and convey or lease in behalf of such city any real

property acquired by the city at the expense of the authority. The

proceeds of any such sale or lease shall be paid to the authority and

applied to its corporate purpose. Any such lease shall run for a term

not to exceed ten years, and a renewal thereof for a term not to exceed

ten years.

4-b. To apply for and receive and accept grants of property, money and

services and other assistance offered or made available to it by any

person, government or agency whatever, which it may use to meet capital

or operating expenses and for any other use within the scope of its

powers, and to negotiate for the same upon such terms and conditions as

the authority may determine to be necessary, convenient or desirable.

Subject to the rights of the holders of any outstanding bonds, notes or

other obligations of the authority, metropolitan transportation

authority, and New York city transit authority, and to facilitate the

efficient financial management of the authority, metropolitan

transportation authority, its subsidiary corporations, and New York city

transit authority and its subsidiary corporations (the "affiliated

entities"), the authority may, and may permit and direct any affiliated

entity to, transfer revenues, subsidies and other monies or securities

to one or more funds or accounts of another affiliated entity for use by

such other affiliated entity, provided at the time of such transfer it

is reasonably anticipated that the monies and securities so transferred

will be reimbursed, repaid or otherwise provided for by the end of the

next succeeding calendar year if reimbursement or repayment is required

by law or by any agreement to which any of the affected affiliated

entities is subject. Any revenues of an affiliated entity that are

transferred to another affiliated entity, which transfer was not

authorized by a provision of law other than this subdivision, shall be

considered to be required to be repaid to the affiliated entity which

was the source of such revenues by the end of the next succeeding

calendar year following such transfer.

5. To make by-laws for the management and regulation of its affairs,

and subject to agreements with bondholders, rules and regulations for

the regulation of the use of the project and the establishment and

collection of tolls thereon. Violations of such rules and regulations

shall be a misdemeanor punishable by a fine of not exceeding fifty

dollars or by imprisonment for not longer than thirty days, or both,

except that violation of any rule or regulation governing or regulating

traffic on the projects of the authority shall be a traffic infraction

as the same is defined in the vehicle and traffic law and shall be

punishable as such;

6. With the consent of the city to use agents, employees and

facilities of the city, paying its proper proportion of the compensation

or cost, and to use the corporation counsel as legal adviser;

7. To appoint officers, agents and employees and fix their

compensation; subject, however, to the provisions of the civil service

law, as hereinafter provided;

7-a. Notwithstanding any inconsistent provision of law, the bridge and

tunnel officers employed by the authority shall have the power to issue

simplified traffic informations for traffic infractions as defined in

section one hundred fifty-five of the vehicle and traffic law, committed

on the sites owned, operated and maintained by the triborough bridge and

tunnel authority, such informations to be administered pursuant to the

provisions of title A of chapter forty of the administrative code of the

city of New York or article two-A of the vehicle and traffic law, as

applicable and also shall have the power to issue notices of violation

for transit infractions committed in and about any or all of the

facilities, equipment or real property owned, occupied or operated by

the metropolitan transportation authority or its subsidiaries and the

New York city transit authority and its subsidiaries, as provided and in

accordance with section twelve hundred nine-a of this chapter. Nothing

set forth in this subdivision shall be construed to impede, infringe or

diminish the rights and benefits that accrue to employees and employers

through collective bargaining agreements, or impact or change an

employee's membership in a bargaining unit.

8. To make contracts, and to execute all instruments necessary or

convenient;

9. To acquire, design, construct, maintain, operate, improve and

reconstruct, so long as its corporate existence shall continue, the

following projects,

(a) a bridge heretofore constructed, known as Robert F. Kennedy

bridge, over the East river from the borough of Queens to the boroughs

of Manhattan and the Bronx, over and across Ward's island and Randall's

island in said river, together with such incidental bridges and

structures as shall be necessary or convenient in order to give access

from the bridge to both of said islands, together with approaches to

said bridges (herein collectively referred to as the "Robert F. Kennedy

bridge project"); and

(b) a bridge heretofore constructed, known as Bronx-Whitestone bridge,

over the East river from a point at or near Whitestone in the borough of

Queens to the borough of the Bronx, together with approaches to such

bridge (herein collectively referred to as the "Whitestone bridge

project"); and

(c) a bridge heretofore constructed, known as Henry Hudson bridge,

across the Harlem river ship canal together with approaches to such

bridge and together with so much of the parkway known as Henry Hudson

parkway as extends southerly from said bridge through Inwood Hill park

to the northerly end of Riverside drive, (as it was before the

construction of said parkway) (herein collectively referred to as the

"Henry Hudson bridge project"); and

(d) a bridge heretofore constructed, known as Marine parkway bridge,

to be known hereafter as the Marine parkway-Gil Hodges memorial bridge,

from the borough of Brooklyn across the waters of Rockaway inlet to

Jacob Riis park in the borough of Queens, together with the approaches

to such bridge and together with the parkway of which said bridge is a

part, (and the parking field connected therewith), from and including

the toll plaza north of said bridge extending eastwardly from said

bridge to the easterly boundary of Jacob Riis park (herein collectively

referred to as the "Marine parkway bridge project"); and

(e) a bridge heretofore constructed known as Cross Bay parkway bridge,

to be known hereafter as the Cross Bay Veterans Memorial bridge, from

Big Egg marsh in Jamaica bay in the borough of Queens across the waters

of Beach channel to Rockaway peninsula in said borough, together with

the parkway known as Cross Bay parkway, of which said bridge is a part,

from and including the toll plaza north of said bridge southerly to the

right of way of the Long Island railroad on Rockaway peninsula (herein

collectively referred to as the "Cross Bay parkway bridge project"); and

(f) a vehicular tunnel or tunnels heretofore constructed, known as

Queens Midtown tunnel, under the East river from the borough of

Manhattan to the borough of Queens, together with such incidental

bridges and tunnels, including but not limited to, a tunnel or tunnels

or bridge across Newtown creek from the borough of Queens to the borough

of Brooklyn and such other structures, appurtenances, facilities and

approaches as shall be necessary or convenient; and

(g) a vehicular tunnel or tunnels under construction, known as Hugh L.

Carey tunnel, under the East river from the southerly end of the borough

of Manhattan to the general vicinity of Hamilton avenue in the borough

of Brooklyn, together with such incidental tunnels and such other

structures, appurtenances, facilities and approaches as shall be

necessary or convenient; and

(h) a vehicular tunnel or tunnels or bridge, herein called the

Brooklyn Richmond project, under or across New York bay from the borough

of Richmond to the borough of Brooklyn, together with such incidental

tunnels, bridges and such other structures, appurtenances, facilities

and approaches as shall be necessary or convenient; and

(i) a vehicular tunnel or tunnels or arterial highway across the

borough of Manhattan connecting the Queens Midtown tunnel with the

Lincoln (Midtown Hudson) tunnel, together with such incidental tunnels

and such other structures, appurtenances, facilities and approaches as

shall be necessary or convenient; and

(j) Bus stations or terminals or automobile parking garages at or in

the vicinity of the Columbus circle in the borough of Manhattan and of

the Manhattan plazas of the Queens Midtown and Hugh L. Carey tunnels.

Any such project may, subject to zoning restrictions, include space and

facilities for any or all of the following: public recreation, business,

trade and other exhibitions, sporting and athletic events, public

meetings, conventions and all kinds of assemblages, and in order to

obtain additional revenues, space and facilities for business and

commercial purposes. Whenever the authority deems it to be in the public

interest, the authority may lease any such project or any part or parts

thereof or contract for the management and operation thereof or of any

part or parts thereof. Any such lease or contract may be for a period of

not exceeding ten years, or, if any of the revenues therefrom are or are

to be pledged to secure bonds then such lease or contract may be for a

period extending not later by more than one year than the last maturity

of such bonds.

(k) Subject to and in accordance with all contract provisions with

respect to any bonds and the rights of the holders of bonds, a vehicular

bridge across the East river between the boroughs of the Bronx and

Queens, east of the Bronx-Whitestone bridge, together with such

incidental bridges and other structures, appurtenances, facilities and

approaches as shall be necessary or convenient (herein collectively

referred to as the "Throgs Neck bridge project"). With the consent of

the United States of America, the Throgs Neck bridge project or a

portion thereof, if deemed necessary or convenient by the authority, may

be constructed upon or pass over any part of the military reservation

known as Fort Schuyler and owned by the United States of America. No

lands, easements or rights in land shall be acquired by the authority

for the purposes of this paragraph without the prior consent of the

board of estimate of the city.

(l) Subject to section five hundred fifty-three-b of this title, a

convention and exhibition center, including facilities ancillary or

functionally related thereto, to be built in New York county at a

location generally bounded by thirty-ninth street on the north,

thirtieth street on the south, eleventh avenue on the east and twelfth

avenue on the west (herein referred to as the convention center).

(m) Subject to section five hundred fifty-three-c of this title, the

acquisition of new rapid transit cars and the transfer of the same to

the New York city transit authority for a nominal consideration. The

authority shall have no obligation to operate, repair, maintain or

reconstruct such cars subsequent to their acquisition and transfer nor

shall it be liable to the New York city transit authority by reason of

any warranty, express or implied, in respect to such cars. Manufacturers

or other warranties furnished to the authority in connection with the

purchase of such cars shall be assigned to the New York city transit

authority for enforcement.

(n) Subject to section five hundred fifty-three-c of this title, the

rehabilitation of existing rapid transit cars of the New York city

transit authority upon such terms and conditions as shall be agreed to

by the parties. The authority shall have no obligation to operate,

repair, maintain or reconstruct such cars subsequent to the

rehabilitation and transfer back to the New York city transit authority

nor shall it be liable to the New York city transit authority by reason

of any warranty, express or implied, in respect to such cars.

Manufacturers or other warranties furnished to the authority in

connection with the purchase of parts or materials for such cars shall

be assigned to the New York city transit authority for enforcement.

(o) Subject to section five hundred fifty-three-c of this title, the

acquisition of new diesel self-propelled railroad passenger cars and the

transfer of the same to the metropolitan transportation authority, for a

nominal consideration, for use on commuter railroads owned or controlled

by the metropolitan transportation authority. The authority shall have

no obligation to operate, repair, maintain or reconstruct such cars

subsequent to their acquisition and transfer, nor shall it be liable to

the metropolitan transportation authority by reason of any warranty,

express or implied, in respect of such cars. Manufacturers or other

warranties furnished to the authority in connection with the purchase of

such cars shall be assigned to the metropolitan transportation authority

for enforcement.

(p) Subject to section five hundred fifty-three-c of this title, the

acquisition of land in the name of the authority in the vicinity of Penn

Station in the city of New York and/or the improvement of such land for

the benefit of the Long Island Rail Road for a lay-up yard and other

railroad purposes and the transfer of the said land and any improvements

thereon to the metropolitan transportation authority, parent corporation

of the said railroad, for a nominal consideration. The authority shall

have no obligation to operate, repair, maintain or reconstruct such land

or its improvements subsequent to such transfer.

(r) In its discretion and subject to and in accordance with all

contract provisions with respect to any bonds and the rights of the

holders of bonds, at the request of the New York city transit authority

or the metropolitan transportation authority, (i) the planning for and

the design, acquisition, construction, improvement, reconstruction or

rehabilitation, in the name of the authority, of any capital asset,

whether in the nature of personal or real property (or any interest

therein) which is used or useful for a transit or transportation purpose

other than a marine or aviation purpose of the requesting authority or

its designated subsidiary (and in the case of such assets then owned,

operated by or under lease to the requesting authority or its designated

subsidiary, the receipt by the authority of the use, occupancy, control

or possession of such assets for the purpose of planning, designing,

constructing, improving, reconstructing or rehabilitating the same) and

the transfer or transfer back of such asset to the requesting authority,

its designated subsidiary or other designee for a nominal consideration

upon its acquisition or upon the completion of such improvement,

construction, reconstruction or rehabilitation; or, alternatively or in

combination with the foregoing, (ii) the making of capital grants to the

requesting authority or its designated subsidiary to permit it to

undertake and to finance such planning, design, acquisition,

improvement, construction, reconstruction or rehabilitation, or,

alternatively or in combination with the foregoing, (iii) the financing

of all or any part of the costs to the authority or to any other person

or entity, public or private, of such planning, design, acquisition,

construction, improvement, reconstruction or rehabilitation of any such

capital asset through or accompanied by a leasing of the asset by such

person or entity to the authority or through or accompanied by a sale by

the authority to any such person or entity and leaseback to the

authority, in each case for subleasing to the requesting authority, its

designated subsidiary or other designee for a nominal rental, except

that such leasing or leaseback from such person or entity may be

directly to the requesting authority or its designated subsidiary or

other designee, for consideration, with the consent and at the expense

of the authority. The foregoing authorization shall extend to and

include the continuation of projects enumerated in paragraphs (m), (n),

(o) and (p) of this subdivision without regard to any limitations set

forth in section five hundred fifty-three-c of this title. The authority

shall have no obligation to operate or, except as may otherwise be

provided in any lease to which it may be a party as aforesaid, repair or

maintain any capital asset after its acquisition, construction,

improvement, reconstruction or rehabilitation and subsequent transfer,

lease or sublease, nor shall it be liable to the transferee, lessee or

sublessee by reason of any warranty, express or implied, in respect

thereof. Warranties furnished in connection with such acquisition,

improvement, construction, reconstruction or rehabilitation shall be

assignable and assigned as directed by the requesting authority and

approved by the authority.

(s) The central business district tolling program to the extent

specified in article forty-four-C of the vehicle and traffic law and in

this title.

The word "approaches" shall include all structures necessary or

convenient to give access to the project from connecting streets and

roads;

10. In its discretion

(a) in the case of the Robert F. Kennedy bridge project and the

Whitestone bridge project to pay to the city not exceeding thirty-five

per centum of the cost (including awards for damages and expenses) of

the acquisition of land for the widening of existing roads, streets,

parkways or avenues and for new roads, streets, parkways or avenues,

connecting with the approaches.

(b) to purchase from the persons, partnerships, associations or

corporations who were the owners of any land acquired for the widening

of existing roads, streets, parkways or avenues or for new roads,

streets, parkways or avenues connecting with the approaches or of any

interest in such land at the date title to such land was vested in the

city in any proceeding heretofore or hereafter instituted for the

acquisition thereof by condemnation, or from their successors in

interest or legal representatives, their right, title, interest and/or

claim in and to the award or awards or any part thereof to be made in

such proceeding after the date of such purchase, and to take an

assignment thereof to the authority, provided, however, that in the case

of the Robert F. Kennedy bridge project and the Whitestone bridge

project the aggregate amount expended by the authority on account of all

such purchases together with the aggregate amount paid to the city in

accordance with paragraph (a) of this subdivision, shall not exceed

thirty-five per centum of the cost (including awards for damages and

expenses) of the acquisition of land for the widening of existing roads,

streets, parkways or avenues, and for new roads, streets, parkways or

avenues, connecting with the approaches,

(c) to construct, in whole or in part, an elevated parkway in the

borough of Brooklyn from the southerly terminus of the Gowanus creek

bridge project to a point at or near Owls Head park connecting with the

Gowanus creek bridge project, and

(d) with the consent of the city to construct and develop for the

purpose of public parks so much of the area of lands, selected as in

this title provided, or otherwise acquired or to be acquired and used in

connection with the project and with new or existing roads, streets,

parkways or avenues connecting with such projects, and so much of the

area of lands now owned by the city to be used in connection with such

projects or with new or existing roads, streets, parkways or avenues

connecting with such projects, as shall be agreed upon under a contract

or contracts hereby authorized to be entered into between the authority

and the city, at the sole expense of the authority and done under

construction contracts let and supervised by the authority, pursuant to

plans and specifications prepared by the authority, the commissioner of

parks and recreation of the city or other agency.

The city shall maintain such connecting roads, streets, parkways and

avenues as provided by law. The public parks and the parkways herein

referred to as connecting with the approaches, any part of the cost of

which is paid by the authority, shall be under the jurisdiction of the

department of parks and recreation of the city and shall be maintained

by that department. Service roads appurtenant to said parkways shall be

under the jurisdiction of the city commissioner of transportation and

shall be maintained by him;

11. To design and with the consent of the city, to construct new

parks, parkways or highways or improvements to existing parks, parkways

or highways either connecting directly or indirectly with the project or

for the purpose of attracting or facilitating traffic or improving

approaches to and connections with the project. The authority shall have

no jurisdiction or control over any new parks, parkways or highways

constructed by it pursuant to the provisions of this paragraph eleven

after the completion of the construction thereof. The general powers

conferred in this subdivision eleven shall include the power heretofore

conferred on the parkway authority to construct a northerly extension of

Cross Bay parkway in the borough of Queens, as authorized in sections

two hundred seventy-eight, two hundred eighty-two-a and two hundred

eighty-two-b of this chapter, and such general powers shall not be

construed to be limited by the provisions of this act granting the power

to construct any particular improvement, but shall be construed as an

extension of the powers of the authority.

12. To charge tolls, fees or rentals for the use of the project,

subject to and in accordance with such agreement with bondholders as may

be made as hereinafter provided. The toll rates charged for the use of

either the Triborough or Whitestone bridge project shall, however, never

be less than the toll rates charged for the use of the other, and this

clause shall be deemed an obligation to the holders of any and all bonds

at any time issued secured by the revenues of said projects. Subject to

contracts with bondholders, all tolls and other revenues derived from

any project shall be applied to the payment of operating, administration

and other necessary expenses of the authority properly chargeable to

such project and thereafter to the payment of interest or principal of

bonds or for making sinking fund payments for bonds, not otherwise

adequately provided for, whether issued in connection with such project

or any other project. It is the intention hereof that surplus funds from

any project remaining after providing for the payment of all operating,

administration and other necessary expenses of the authority and all

contract provisions with respect to any bonds, may be used to meet

obligations incurred for other projects and if not so used or reserved

for such use shall, at the discretion of metropolitan transportation

authority, be transferred to metropolitan transportation authority or

New York city transit authority pursuant to section five hundred

sixty-nine-c of this title. Subject to contracts with bondholders, the

authority may treat one or more projects as a single enterprise in

respect of revenues, expenses, the issuance of bonds, maintenance,

operation or other purposes;

12-a. To establish and charge variable tolls, fees and other charges

for vehicles entering or remaining within the central business district

and to make rules and regulations for the collection of such tolls, fees

and other charges, subject to and in accordance with such agreement with

bondholders and applicable federal law as may be made as hereinafter

provided. Subject to agreements with bondholders and applicable federal

law, all tolls, fees and other revenues derived from the central

business district tolling program shall be applied to the payment of

operating, administration, and other necessary expenses of the authority

properly allocable to such program, including the capital costs of such

program, and to the payment of interest or principal of bonds, notes or

other obligations of the authority or the metropolitan transportation

authority issued for transit and commuter projects as provided in

section five hundred fifty-three-j of this title, and shall not be

subject to distribution under section five hundred sixty-nine-c of this

title or section twelve hundred nineteen-a of this chapter. The

provisions of section twenty-eight hundred four of this chapter shall

not be applicable to the tolls and fees established by the authority

pursuant to this subdivision. Any such fares, tolls, and other charges

shall be established and changed only if approved by resolution of the

authority adopted by not less than a majority vote of the whole number

of members of the authority then in office, with the chairman having one

additional vote in the event of a tie vote, and only after a public

hearing.

13. To construct and maintain over, under, along or across the project

telephone, telegraph, or electric wires and cables, gas mains, water

mains and other mechanical equipment not inconsistent with the

appropriate use of the project, to contract for such construction and to

lease the right to construct and/or use the same on such terms and for

such considerations as it shall determine, provided, however, that no

lease shall be made except with the approval of the board of estimate of

the city, or for a period of more than twenty years from the date when

it is made;

14. To construct and maintain facilities for the public, not

inconsistent with the use of the project, to contract for such

construction, and to lease the right to construct and/or use such

facilities on such terms and for such considerations as it shall

determine, provided, however, that no lease shall be made for a period

of more than five years from the date when it is made except with the

approval of the board of estimate of the city;

15. To issue negotiable bonds and to provide for the rights of the

holders thereof;

16. To enter on any lands, waters, and premises for the purpose of

making surveys, soundings and examinations;

16-a. With the consent of the city and notwithstanding any other

provision of law, whenever real property having dwellings or other

structures thereon has been acquired by the authority or the city for

the purpose of constructing any project authorized by this title, (a) to

acquire real property by purchase, gift, devise or condemnation in the

manner provided in this title, and as the agent of the city, for the

purpose of providing new sites on which such dwellings or other

structures may be relocated; (b) to sell such dwellings or other

structures or to provide for the removal, relocation and improvement of

such dwellings or other structures on new foundations at such new sites

by contract or by its own labor force or by a combination of methods;

(c) to contract for the installation of water, sewer, gas and electrical

facilities and other necessary appurtenances required for the completion

and restoration of such dwellings or other structures; (d) to landscape

such new sites; (e) to contract with any person, firm or corporation or

with the city for the improvement or installation of streets, sewers,

water lines or other facilities in connection with the relocation of

such dwellings or other structures and to pay the cost thereof; (f) to

contract with the several owners of such property for the conveyance of

the new sites with improvements thereon to such owner in settlement in

part or in whole of the compensation and damage to which they are

entitled; and (g) to sell such sites with or without dwellings or other

structures and improvements thereon.

The authority may agree with the owners of property acquired, in

settlement in part or in whole of the damages to which they are

entitled, to compensate such owners for the cost of acquiring new sites,

removing dwellings thereto on new foundations, the installation of

water, sewer, gas and electrical facilities and other necessary

appurtenances required for the complete restoration of such dwellings or

other structures and landscaping of the new site.

For the purposes of this subdivision, the term "structures" shall mean

and include buildings used as and for hospitals, schools, community and

religious institutions, cultural and recreational and other neighborhood

and community facilities, but shall exclude retail stores, factories and

commercial and industrial establishments of any kind.

17. To do all things necessary or convenient to carry out the powers

expressly given in this title and to assist and cooperate with the

metropolitan transportation authority to carry out the powers of the

metropolitan transportation authority in furtherance of the purposes and

powers of the authority as provided in this article, including, without

limitation, the transactions described in sections twelve hundred

sixty-six-c, twelve hundred sixty-nine, and twelve hundred seventy-d of

this chapter.

18. A copy of any report submitted by the authority pursuant to

sections twenty-eight hundred, twenty-eight hundred one and twenty-eight

hundred two of this chapter shall be submitted contemporaneously to the

mayor of the city.

19. To acquire in its own name certain real or personal property, or

any interest therein, including leasehold interests, air and subsurface

rights, easements and lands under water at a site located in New York

county and generally bounded by thirty-third street on the north,

thirtieth street on the south, tenth avenue on the east and eleventh

avenue on the west, such property or any interest therein to be acquired

for railroad or other corporate purposes, and in the event such real or

personal property or any interest therein is determined by the authority

to be unnecessary for railroad or other corporate purposes, to sell,

convey or lease in its own name such real or personal property or any

interest therein.

20. Prior to the adoption after January first, nineteen hundred

eighty-seven by the authority of a general resolution pursuant to which

it is authorized to issue any general or special obligation bonds or

notes to finance a project pursuant to the authorization contained in

paragraph (r) of subdivision nine of this section, not including any

series resolution or resolutions, and prior to the adoption of any

amendment to a general resolution, whenever adopted, pursuant to which

it is authorized to issue any general or special obligation bonds or

notes for such purpose, not including a series resolution or

resolutions, the authority shall submit a copy of such proposed

resolution to the metropolitan transportation authority capital program

review board (hereinafter referred to as the "board"). Within fifteen

days of such submission, the board may notify the authority of its

unanimous approval of the same by the members entitled to vote thereon,

or if the resolution is not approved and no individual member of the

board who is entitled to vote on such resolution has notified the

authority in writing of his disapproval, the resolution shall be deemed

to have been approved. Neither the board nor any member thereof shall

disapprove a proposed resolution by reason of any covenant requiring the

authority to charge and fix tolls, rentals and other charges sufficient

to pay its operating expenses and the debt service, including the

funding of requisite reserves, on the bonds and notes authorized by such

resolution. If the board or any member thereof entitled to vote thereon

shall disapprove a proposed resolution, the authority may, at any time,

resubmit a reformulated resolution. Within ten days of the submission of

such reformulated resolution the board may notify the authority of its

unanimous approval of the same by the members entitled to vote thereon,

or, if the reformulated resolution is not approved and no individual

member of the board who is entitled to vote thereon has notified the

authority in writing of his disapproval within such period, the

reformulated resolution shall have been deemed to have been approved.

Any individual member of the board who votes against a resolution or a

reformulated resolution or who notifies the authority of his disapproval

shall state his reasons therefor. The member appointed on the

recommendation of the mayor of the city of New York shall participate in

the action of the board with respect to any resolution of the authority

submitted pursuant to this subdivision. The authority shall not adopt a

resolution or any amendment to a resolution disapproved by the board as

herein provided.

21. To invest any funds, accounts or other monies not required for

immediate use or disbursement, at the discretion of the authority, in

any of the investments in which the metropolitan transportation

authority is permitted to invest its monies pursuant to subdivision four

of section twelve hundred sixty-five of this chapter.

* 22. Section twenty-eight hundred seventy-nine of this chapter shall

apply to the authority's acquisition of goods or services of any kind,

in the actual or estimated amount of fifteen thousand dollars or more,

provided that (i) a contract for services in the actual or estimated

amount of less than one hundred thousand dollars shall not require

approval by the board of the authority regardless of the length of the

period over which the services are rendered, and provided further that a

contract for services in the actual or estimated amount of one hundred

thousand dollars or more shall require approval by the board of the

authority regardless of the length of the period over which the services

are rendered unless such a contract is awarded to the lowest responsible

bidder after obtaining sealed bids and (ii) the board of the authority

may by resolution adopt guidelines that authorize the award of contracts

to small business concerns, to service disabled veteran owned businesses

certified pursuant to article seventeen-b of the executive law, or

minority or women-owned business enterprises certified pursuant to

article fifteen-a of the executive law, or purchases of goods or

technology that are recycled or remanufactured, in an amount not to

exceed four hundred thousand dollars without a formal competitive

process and without further board approval. The board of the authority

shall adopt guidelines which shall be made publicly available for the

awarding of such contract without a formal competitive process.

* NB Repealed June 30, 2028