§ 1306. General powers of the authority. A. Except as otherwise
limited by this title, the authority shall have power:

1. To sue and be sued;

2. To have a seal and alter the same at pleasure;

3. To borrow money and issue negotiable notes, bonds or other
obligations and to provide for the rights of the holders thereof;

4. To invest any funds held in reserve or sinking funds, or any monies
not required for immediate use or disbursement, at the discretion of the
authority, in obligations of the state or the United States government
or obligations the principal and interest of which are guaranteed by the
state or the United States government; or certificates of deposit of
banks or trust companies or in bank or trust accounts of banks in this
state secured by obligations of the United States or of the state of New
York of a market value equal at all times to the amount of the deposit
with the approval of the Comptroller;

5. To make and alter by-laws for its organization and internal
management, and rules and regulations governing the exercise of its
powers and the fulfillment of its purposes under this title;

6. To enter into contracts and leases and to execute all instruments
necessary or convenient;

7. To acquire, hold and dispose of real or personal property in the
exercise of its powers;

8. To appoint a general manager, who shall serve at the pleasure of
the authority, and such officers and employees as the authority may
require for the performance of its duties, and 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, management or technical
services and advice; such general manager, counsel, auditors, engineers,
and private consultants, officers and employees may not be a member of
the authority;

9. (a) Notwithstanding section one hundred thirteen of the retirement
and social security law or any other general or special law, the
authority and any of its subsidiary corporations may continue or provide
to its affected officers and employees any retirement, disability, death
or other benefits provided or required for railroad personnel pursuant
to federal or state law. Notwithstanding any provisions of the civil
service law, no officer or employee of a subsidiary corporation, of the
authority, other than a public benefit subsidiary corporation, shall be
a public officer or a public employee;

(b) The authority and any of its public benefit subsidiary
corporations may be a "participating employer" in the New York state
employees' retirement system with respect to one or more classes of
officers and employees of such authority or any such public benefit
subsidiary corporation, as may be provided by resolution of such
authority or any such public benefit subsidiary corporation, as the case
may be, or any subsequent amendment thereof, filed with the comptroller
and accepted by him pursuant to section thirty-one of the retirement and
social security law. In taking any action pursuant to this paragraph
(b), the authority and any of its public benefit subsidiary corporations
shall consider the coverages and benefits continued or provided pursuant
to paragraph (a) of this subdivision.

10. To make plans, surveys, and studies necessary, convenient or
desirable to the effectuation of the purposes and powers of the
authority and to prepare recommendations in regard thereto and shall
undertake feasibility studies, at such time as the authority deems best,
of merging into the authority the Port of Albany authority and of
acquiring the Albany county airport, the Schenectady county airport, the
United Traction Company, the Schenectady Transportation Corporation or
any successor entities.

11. To enter upon such lands, waters or premises as in the judgment of
the authority 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 authority being liable for actual
damage done;

12. The authority may conduct investigations and hearings in the
furtherance of its general purposes, and in aid thereof have access to
any books, records or papers relevant thereto; and if any person whose
testimony shall be required for the proper performance of the duties of
the authority shall fail or refuse to aid or assist the authority in the
conduct of any investigation or hearing, or to produce any relevant
books, records or other papers, the authority is authorized to apply for
process of subpoena, to issue out of any court of general original
jurisdiction whose process can reach such person, upon due cause shown;

13. To do all things necessary, convenient or desirable to carry out
its purposes and for the exercise of the powers granted in this title.

14. To enter into collective bargaining agreements with labor
representatives duly elected by the employees of the authority.

15. To insure or provide for the insurance of the authority's property
or operations as required by law and also against such other risks as
the authority may deem advisable.

B. The authority shall file in the office of the commissioner and with
the legislative bodies of each county in the district annual reports,
after the close of each of the authority's fiscal years, which shall be
open to public inspection. Such reports shall include, in addition to
any information which the commissioner may require, a statement with
respect to its operations including the following data:

(a) Cost breakdown of real property acquired for each system or
facility acquired or operated by the authority;

(b) Cost breakdown in appropriate units of facilities acquired or
operated by the authority;

(c) Operating revenues for each system or facility acquired or
operated by the authority;

(d) Operating expenses for each system or facility acquired or
operated by the authority.

C. The authority shall prepare and file with the commissioner and the
legislative bodies of each county in the district an annual budget
consisting of projected operating revenues and expenditures for the next
fiscal year.