An authority shall constitute a body both corporate and politic. It shall have the following powers in addition to others herein granted. To investigate into living and housing conditions in the county, city or village and into the means and methods of improving such conditions; to determine where unsanitary or substandard housing conditions exist; to study and make recommendations concerning the municipal plan in relation to the problems of clearing, replanning and reconstruction of areas and the providing of housing accommodations for persons of low income, and to cooperate with any municipal or regional planning agency; to prepare, carry out and operate projects; to construct, reconstruct, improve, alter or repair or to provide for the construction, reconstruction, improvement, alteration or repair of any project or any part thereof; to take over any project undertaken by any government; to act as agent for the federal government in connection with a project; to arrange with the county, city or village or with a government for the furnishing, planning, replanning, opening, grading or closing of streets, roads, roadways, alleys or other places or facilities or for the acquisition by the municipality or by a government of property, options or property rights or for the furnishing of property or services in connection with a project; to lease or rent any of the housing or other accommodations or any of the lands, buildings, structures or facilities embraced in any project and to establish and revise the rents or charges therefor; to enter upon any building or property in order to conduct investigations or to make surveys or soundings necessary to carry out the purposes of the authority; to purchase, lease, obtain options upon, acquire by eminent domain or otherwise, sell, exchange, transfer, assign or mortgage any property real or personal or any interest therein; to acquire any property real or personal or any interest therein from any person, firm, corporation or government by gift, grant, bequest or devise; to own, hold, clear and improve property; to insure or provide for the insurance of the property or operations of the authority against such risks as the authority may deem advisable; to borrow money upon its bonds, notes, debentures or other evidences of indebtedness and to secure the same by mortgages upon property held or to be held by it or by pledge of its revenues, or in any other manner; to limit by contract, the exercise of any powers of the authority granted in this article; to invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursement in property or securities in which savings banks may legally invest funds subject to their control; to sue and be sued; to have a seal and to alter the same at pleasure; to have perpetual succession; to make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the authority; to make and from time to time amend and repeal by-laws, rules and regulations not inconsistent with this article to carry into effect the powers and purposes of the authority; to conduct examinations and investigations and to hear testimony and take proof under oath at public or private hearings on any matter material for its information; to issue subpoenas requiring the attendance of witnesses or the production of books and papers and to issue commissions for the examination of witnesses who are out of the state or unable to attend before the authority, or excused from attendance; and to do all things necessary or convenient to carry out the powers given in this article. Any of the investigations or examinations provided for in this article may be conducted by the authority or by a committee appointed by it, consisting of one or more members thereof, or by counsel, or by an officer or employee specially authorized by the authority to conduct it. Any member of the authority, its counsel, or any person designated by it to conduct an investigation or examination shall have power to administer oaths, take affidavits and issue subpoenas or commissions. * NB The text of Article 5 of the former State Housing Law (cited herein as the “Municipal Housing Authorities Law”), as such article existed immediately prior to its repeal pursuant to section 227 of Chapter 808 of the Laws of 1939, is provided here for ease of reference and historical purposes as such text continues to be applicable for the New York City Housing Authority pursuant to the provisions of section 401 of the current Public Housing Law.