N.Y.
Public Authorities Law Section 3404
General powers of the corporation
1.
to sue and be sued;2.
to have a seal and alter the same at pleasure;3.
to borrow money and issue bonds for any of its corporate purposes or its projects, or to refund the same, and to provide for the rights of the holders thereof;4.
to make and alter by-laws for its organization and management, and, subject to agreements with its bondholders, to make and alter rules and regulations governing the exercise of its powers and the fulfillment of its purposes under this title;5.
(a) to acquire by purchase, grant, lease, gift, or otherwise and to hold and use property necessary, convenient or desirable to carry out its corporate purposes, and to sell, convey, mortgage, lease, pledge, exchange or otherwise dispose of any such property in such manner as the corporation shall determine;(b)
to acquire by condemnation pursuant to the provisions of the eminent domain procedure law any real property within Nassau county required by the corporation to carry out the powers granted by this title with the approval of both the county legislature and the county executive;6.
to acquire, construct, lease, expand, improve, maintain, equip, furnish, operate one or more projects and, if necessary, to pay or finance the cost thereof;7.
to accept gifts, grants, loans or contributions of funds or property or financial or other aid in any form from, and enter into contracts or other transactions with, the federal government, the state, the county or any public corporation or any other source, and to use any such gifts, grants, loans or contributions for any of its corporate purposes;8.
to grant options to renew any lease with respect to any project or projects and to grant options to buy any project at such price as the corporation may deem desirable;9.
to designate the depositories of its money;10.
to establish its fiscal year;11.
to enter into contracts and to execute all instruments necessary or convenient or desirable for the purposes of the corporation to carry out any powers expressly given to it in this title;12.
to appoint such officers, employees and agents as the corporation may require for the performance of its duties and to fix and determine their qualifications, duties, and compensation subject to the provisions of the civil service law and any applicable collective bargaining agreement, and to retain or employ counsel, auditors, engineers and private consultants on a contract basis or otherwise for rendering professional, management or technical services and advice;13.
to use employees, agents, consultants and facilities of the county, paying the county its agreed proportion of the compensation or costs pursuant to an agreement with the county;14.
to make and adopt plans, surveys and studies necessary, convenient or desirable to the effectuation of the purposes and powers of the corporation and to prepare recommendations in regard thereto;15.
except where otherwise provided by law or regulation, to fix and collect rates, rentals, fees and other charges for the services rendered by or for use of the facilities or in the exercise of the powers of the corporation;16.
to enter upon such lands, waters or premises as in the judgment of the corporation may be necessary, convenient or desirable for the purpose of making surveys, soundings, borings and examinations to accomplish any purpose authorized by this title, the corporation being liable for actual damage done;17.
to insure or otherwise to provide for the insurance of the corporation’s property or operations and also contract against such other risks as the corporation may deem advisable, including the interest rate risk for obligations it issues bearing interest at a floating or otherwise adjustable rate which prevents the actual rate over the term of the debt from being ascertained at the date of its incurrence, and including the power to make any payments with respect thereto; and18.
to do all things necessary, convenient or desirable, including ancillary and incidental activities, to carry out its purposes and for the exercise of the powers granted in this title.
Source:
Section 3404 — General powers of the corporation, https://www.nysenate.gov/legislation/laws/PBA/3404 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
