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This entry was published on 2023-03-10
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General powers
Education (EDN) CHAPTER 16, TITLE 7, ARTICLE 125-B
§ 6275. General powers. The fund shall have the following powers in
addition to those specially conferred elsewhere in this article:

(1) to sue and to be sued;

(2) to have a seal and alter the same at its pleasure;

(3) to make and alter by-laws for its organization and internal

(4) to prescribe a system of accounts, with the approval of the state

(5) to accept jurisdiction over and to hold, use and improve, in
accordance with such terms and conditions as the fund and the city
university shall determine any or all real property acquired by, under
the jurisdiction of, or assigned to the use of the board of higher
education for purposes of the city university, together with such rights
and privileges as may be incidental and appurtenant thereto;

(6) to purchase real property necessary or convenient for its
corporate purposes in its own name and to execute and deliver deeds for
real property held in its own name;

(7) to purchase, receive, lease or otherwise acquire personal property
necessary and convenient for its corporate purposes and to transfer,
sublease or otherwise make such personal property available to the board
of higher education or the dormitory authority or to sell or otherwise
to dispose of such personal property that, in the judgment of the fund,
is no longer necessary for its corporate purposes;

(8) subject to other provisions of law, to give, donate, transfer,
grant or lend to the city university upon such terms and conditions as
is deemed appropriate such sums of money as are not required for other

(9) to make and execute contracts, leases, subleases and all other
instruments or agreements necessary or convenient for the exercise of
its corporate powers and purposes to an amount not exceeding
seventy-five thousand dollars without prior approval by any other state
officer or agency; notwithstanding the foregoing, all contracts, leases,
subleases, and all other instruments or agreements exceeding
seventy-five thousand dollars in amount shall be subject to section one
hundred twelve of the state finance law;

(10) with the consent of the board of higher education, to use the
agents, employees and facilities of the city university;

(11) to engage the services of construction, engineering,
architectural, legal and financial consultants, surveyors and
appraisers, on a contract basis or as employees, for professional
service and technical assistance and advice;

(12) to cause facilities to be designed, constructed, acquired,
reconstructed, rehabilitated, improved, operated, maintained, furnished
and equipped and made secure in accordance with the provisions of this

(13) to procure insurance against loss in connection with any facility
in such amounts and from such insurers as it deems desirable;

(14) to accept, administer and disburse federal, state, and city aid;

(15) to do any and all things necessary or convenient to carry out its
corporate powers and purposes.