N.Y.
Public Authorities Law Section 1943
Powers of the authority
1.
To sue and be sued.2.
To have a seal and alter the same at pleasure.3.
To borrow money and issue bonds, notes or other obligations for its corporate purposes and to provide for the rights of the holders thereof.4.
To enter into contracts and to execute all instruments necessary or convenient or desirable for the purposes of the authority to carry out any powers expressly given to it in this title.5.
To acquire by purchase, gift, grant, transfer, contract or lease or by condemnation pursuant to the eminent domain procedure law, lease as lessee, hold, and use any property, real, personal or mixed or any interest therein constituting or for use in connection with the auditorium, as the authority may deem necessary, convenient or desirable to carry out the purpose of this title and, subject to any limitations in any agreement entered into pursuant to this title, to sell, lease as lessor, transfer or otherwise dispose of any such property or interest therein. In connection with the acquisition of any such property, the authority may assume any obligations of the owner of such property and, to the extent required by the terms of any indentures or other instruments under which such obligations were issued, the authority may assume and agree to perform covenants and observe the restrictions contained in such instruments; and furthermore the owner of any property which the authority is authorized to acquire is hereby authorized to sell or otherwise transfer the same to the authority, whereupon the authority shall become charged with the performance of all public duties with respect to such property with which such owner was charged and such owner shall become discharged from the performance thereof.6.
To develop, construct, operate, maintain and manage or contract for the operation, maintenance or management of, or for services to be performed in connection with, the auditorium; to allow the use of the auditorium for the conduct of professional and amateur athletic events, entertainment, cultural and artistic events and, or, civic events and activities related thereto; and to rent parts thereof and to grant concessions, all on such terms and conditions as the authority may determine.7.
To apply to the appropriate agencies and officials of the federal, state and local governments for such licenses, permits or approvals of its plans as it may deem necessary or advisable, and upon such terms and conditions as it may deem appropriate, and to accept, in its discretion, such licenses, permits or approvals as may be tendered to it by such agencies and officials.8.
To appoint such officers and employees as are required for the performance of its duties, to fix and determine their qualifications, duties and compensation, and to retain or employ counsel, auditors, engineers and private consultants on a contract basis or otherwise for rendering professional or technical services and advice.9.
To make plans and studies necessary, convenient or desirable for the effectuation of the purposes and powers of the authority and to prepare recommendations in regard thereto.10.
To enter upon such lands or premises as in the judgment of the authority shall be necessary for the purpose of making surveys, sounding, boring and examinations to accomplish any purpose authorized by this title, the authority being liable only for actual damage done.11.
To apply 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, or from the state or any agency or instrumentality thereof or from any other source, for any or all of the purposes specified in this title, and to comply, subject to the provisions of this title, with the terms and conditions thereof.12.
To make and amend by-laws for its organization and management and regulation of its affairs and rules and regulations governing the exercise of its powers and the fulfillment of its purposes under this title. A copy of such rules, regulations and by-laws, and all amendments thereto, duly certified by the secretary of the authority shall be filed in the office of the county clerk.13.
To enter into cooperative agreements with other authorities, with municipalities, individuals, or corporations, within or without the service area, for any lawful purposes necessary or desirable to effect the purposes of this title upon such terms and conditions as the authority shall be determined to be reasonable.14.
With the consent of the chief executive officer of municipalities within the service area, to use officers and employees of such municipalities and to pay a proper portion of compensation or costs for the services of such officers or employees.15.
To establish, fix, revise, charge, collect and enforce fees and charges for the use of the auditorium so as to provide revenues which, together with other earnings of the auditorium, if any, are at least sufficient at all times to pay, as the same shall become due, the expense of operating and maintaining the auditorium together with proper reserves for maintenance, contingencies and all other obligations and indebtedness of the authority.16.
To pledge its revenues and mortgage any or all of its properties to secure the obligations of the authority.17.
To establish and maintain such reserves, special funds and accounts, to be held in trust or otherwise, as may be required by any agreement with bondholders and, or, any municipality.18.
For the purposes of article fifteen-A of the executive law only, the authority shall be deemed a state agency as that term is used in such article, and its contracts for procurement, design, construction, services, and materials shall be deemed state contracts within the meaning of that term as set forth in such article.19.
To do all things necessary, convenient or desirable to carry out its purposes and for the exercise of the powers granted in this title.
Source:
Section 1943 — Powers of the authority, https://www.nysenate.gov/legislation/laws/PBA/1943 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
