N.Y.
Public Authorities Law Section 3630
General powers of the corporation
1.
to sue and be sued and to participate in actions and proceedings, whether judicial, administrative, or otherwise;2.
to have a seal and to alter such seal, and to use it by causing it or a facsimile thereof to be affixed, impressed, or reproduced in any other manner;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.
to purchase, receive, take by grant, gift, devise, bequest, or otherwise, lease, or otherwise acquire, own, hold, improve, employ, use, and otherwise deal in and with, real or personal property, or any interest therein, wherever situated;6.
to purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, employ, sell, lend, lease, exchange, transfer, or otherwise dispose of, mortgage, pledge, use, and otherwise deal in and with, bonds and other obligations, shares, or other securities or interests issued by others, whether engaged in similar or different business, governmental, or other activities;7.
to accept subventions from other persons or any unit of government;8.
to sell, convey, lease, exchange, transfer, or otherwise dispose of, mortgage or pledge, or create a security interest in, all or any of its property, or any interest therein, wherever situated, upon such terms and conditions and in such manner as the corporation shall determine;9.
to acquire by condemnation pursuant to the provisions of the eminent domain procedure law any real property within Erie county required by the corporation to carry out the powers granted by this title with the approval of both the Erie county legislature and the county executive;10.
to make capital contributions to other not-for-profit corporations;11.
to offer participation in the New York state and local employees’ retirement system for all its officers and employees and to establish and carry out other retirement plans authorized pursuant to the retirement and social security law, which may be offered to all of its officers and employees not participating in the New York state and local employees’ retirement system, and to establish and carry out other incentive and benefit plans, trusts, and provisions for any or all of its officers and employees, subject to the applicable provisions of article fourteen of the civil service law;12.
to be a promoter, partner, member, associate, or manager of other not-for-profit activities or business enterprises or ventures, or, to the extent permitted in any other jurisdiction, to be an incorporator of other corporations of any type or kind;13.
to make contracts, give guarantees, and incur liabilities, borrow money at such rates of interest as the corporation may determine, issue notes, bonds, and other obligations, and secure any of its obligations by mortgage or pledge of all or any of its property or any interest therein, wherever situated;14.
to issue bonds for any corporate purpose or project, to refund the same, and to provide for the rights of holders thereof;15.
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, or any public corporation or any other source, and to use any such gifts, grants, loans, or contributions for any of its corporate purposes;16.
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;17.
to lend money, invest and reinvest its funds, and take and hold real and personal property as security for the payment of funds so lent or invested;18.
to designate the depositories of its money;19.
to establish its fiscal year;20.
to conduct the activities of the corporation, have offices, and exercise the powers granted by this title in any jurisdiction within or without the United States;21.
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;22.
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;23.
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;24.
except as limited by state law or regulation, to fix and collect rates, rentals, fees, lease payments, and other charges for the services rendered by it or for the use of the facilities owned, controlled, or administered by or in the exercise of the powers of the corporation;25.
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;26.
the corporation may covenant and consent that the interest on any of its bonds or notes issued pursuant to this title shall be includable, under the United States Internal Revenue Code of 1986, as amended (the “code”) or any subsequent corresponding internal revenue law of the United States, in gross income of the holders of the bonds or notes to the same extent and in the same manner that the interest on bills, bonds, notes, or other obligations of the United States is includable in the gross income of the holders thereof under the code or any such subsequent law;27.
to make, adopt, amend, enforce, and repeal rules for its governance and internal management and personnel practices, subject to article fourteen of the civil service law, where applicable;28.
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; and29.
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 3630 — General powers of the corporation, https://www.nysenate.gov/legislation/laws/PBA/3630 (updated Sep. 22, 2014; accessed Oct. 26, 2024).
