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General powers of the authority
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 19
* § 2464. General powers of the authority. 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 acquire, hold and dispose of personal property for its corporate
purposes, including the power to purchase prospective or tentative
awards in connection with the appropriation of real property;

4. To acquire, in the name of the authority, by purchase or
appropriation, real property or rights or easements therein necessary or
convenient for its corporate purposes, and, except as may otherwise be
provided herein, to use the same so long as its corporate existence
shall continue;

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 appoint such officers and employees as it 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, architects and private consultants on a
contract basis or otherwise for rendering professional or technical
services and advice;

7. To make contracts and leases, and to execute all instruments
necessary or convenient;

8. To examine and approve all leases and agreements of a participating
municipality, relating to the sports facility;

9. To acquire, construct, reconstruct, construct additions to,
improve, maintain and operate sports facilities including, but not
limited to, buildings, structures, parking and other facilities
ancillary or appurtenant to such sports facilities as may be necessary
or convenient until responsibility therefor may be transferred to the
participating municipality;

10. To contract 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,
public or private, and to comply, subject to the provisions of this
title, with the terms and conditions thereof;

11. To fix and collect any payments, fees and other charges for the
use of the sports facility subject to and in accordance with such
agreements with bondholders as may be made as hereinafter provided;

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

13. To invest any funds held in reserve or sinking funds, or any
moneys not required for immediate use or disbursement, at the discretion
of the authority, in (a) obligations of the state or the United States
government, its agencies and instrumentalities, (b) obligations the
principal and interest of which are guaranteed by the state or the
United States government, (c) certificates of deposit of banks or trust
companies in this state, secured, if the authority shall so require, 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, and (d) as to the
said reserve and sinking funds, other securities in which the trustee or
trustees of any public retirement system or pension fund has the power
to invest the moneys thereof pursuant to article four-a of the
retirement and social security law, each such reserve and sinking fund
being treated as a separate fund for the purposes of the said article
four-a of the retirement and social security law;

14. 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;

15. 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;

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

Notwithstanding the foregoing provisions of this section, no power
granted under this title shall be exercised by the authority without the
prior submission of a plan to it by a participating municipality in
accordance with the provisions of section twenty-four hundred sixty-five

* NB (Disbanded March, 1980)