N.Y.
Public Authorities Law Section 1855
General powers of the authority
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.4.
To make rules and regulations governing the exercise of its corporate powers and the fulfillment of its corporate purposes under this title and title nine-A of this article, which shall be filed with the department of state in the manner provided by Executive Law § 102 (Filing and publication of codes, rules and regulations)section one hundred two of the executive law.5.
To purchase, receive, lease or otherwise acquire, to hold in the name of the state or otherwise, and to sell, convey, mortgage, lease, pledge or otherwise dispose of, upon such terms and conditions as the authority may deem advisable, real and personal property, together with such rights and privileges as may be incidental and appurtenant thereto and to the use thereof, including but not restricted to any real property acquired or held by the authority pursuant to the provisions of § 1856 (Acquisition of real property)section eighteen hundred fifty-six of this title and any real or personal property acquired by the authority in the satisfaction of obligations contained in contracts, leases or other arrangements.6.
To enter into contracts, leases or other arrangements providing for the establishment, operation, development and management of any property or facility under the jurisdiction of the authority.7.
To enter into contracts, leases or other arrangements permitting any person to use any property or facility under the jurisdiction of the authority; permitting such person to build or add facilities or improvements upon such property or facility; and providing, at the discretion of the authority, for the acquisition by the authority of any such facilities or improvements built or added by such person, upon such terms and conditions as the authority may deem advisable.8.
To sell or otherwise make available, upon such terms and conditions as the authority may deem advisable, any product, by-product or service produced in or provided by any facility under its jurisdiction.9.
To fix and collect fees, rentals and charges for the use of any property or facility under its jurisdiction, or for the sale of any product, by-product or service produced in or provided by any such facility, and to establish the rights and privileges created upon payment thereof. Such fees, rentals and charges shall be established by the authority so as to produce, in the judgment of the authority, revenues sufficient, together with any other funds available to the authority, to meet the expenses of maintenance and operation of the facilities of the authority, to repay any moneys repayable to the state, to fulfill the terms of agreements with the holders of its bonds, notes or other obligations, and to provide funds for such other corporate purposes as the authority may deem appropriate.10.
To enter into any contracts and to execute all instruments necessary or convenient for the exercise of its corporate powers and the fulfillment of its corporate purposes under this title.11.
To borrow money and to issue bonds, notes or other obligations and to provide for the rights of the holders thereof.12.
To enter into agreements to pay annual sums in lieu of taxes to any municipality or taxing district of the state in respect of any real property which is owned by the authority, leased by the authority to a person and located in such municipality or taxing district, provided, however, that the amount so paid for any year upon any such property shall not exceed the sum last paid as taxes on such property to such municipality or taxing district prior to the time of its acquisition by the authority.13.
To procure insurance, or obtain indemnification from the federal government or other persons, against any loss in connection with the assets of the authority and any liability in connection with the activities of the authority, such insurance or indemnification to be procured or obtained in such amounts, and from such sources, as the authority deems to be appropriate.14.
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 or from the state or from any other source and to comply, subject to the provisions of this title, with the terms and conditions thereof.15.
To enter into any lands, waters or premises for the purpose of making borings, soundings, surveys or other investigations necessary to the purposes of the authority or to public health and safety.16.
To engage the services of bond counsel, financial advisors, accountants, engineers, attorneys and other private consultants on a contract basis for rendering professional and technical assistance and advice.17.
To do all things necessary or convenient to carry out its corporate purposes and exercise the powers given and granted by this title.
Source:
Section 1855 — General powers of the authority, https://www.nysenate.gov/legislation/laws/PBA/1855 (updated Sep. 22, 2014; accessed May 4, 2024).
