§ 373 — General powers and duties of fund

§ 373. General powers and duties of fund. The fund shall have the\nfollowing powers in addition to those specifically conferred elsewhere\nin this article:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To make and alter by-laws for its organization and internal\nmanagement;\n 4. With the approval of the comptroller, to prescribe a system of\naccounts;\n 5. To make rules and regulations governing the exercise of its\ncorporate powers and the fulfillment of its corporate purposes under\nthis article, which rules and regulations shall be filed with the\nsecretary of state in the manner provided by section one hundred two of\nthe executive law;\n 6. To accept jurisdiction over and to hold, use and improve, in\naccordance with such terms and conditions as the fund and the state\nuniversity shall determine, any or all real property acquired by the\nstate university trustees in the name of the state for state university\npurposes, together with such rights and privileges as may be incidental\nand appurtenant thereto;\n 7. To purchase, receive, lease or otherwise acquire in accordance with\nthe requirements of article eleven of the state finance law personal\nproperty necessary and convenient for its corporate purposes, provided\nthat such personal property shall not be construed to include\nfurnishings and equipment for completed facilities;\n 8. To design, construct, acquire, reconstruct, rehabilitate and\nimprove academic buildings, dormitories and other facilities for the\nstate university in accordance with sections three hundred seventy-five\nand three hundred seventy-six of this chapter;\n 9. In connection with such design, construction, acquisition,\nreconstruction, rehabilitation and improvement, (i) to install or cause\nto be installed water, sewer, gas, electrical, telephone, heating, air\nconditioning and other utility services, including appropriate\nconnections, (ii) to construct or cause to be constructed walkways,\nroadways and other improvements on adjacent real property made available\nby the state university, and (iii) to landscape adjacent real property\nor cause the same to be landscaped;\n 10. To maintain, repair and keep up the real property held by it and\nthe facilities constructed, acquired, reconstructed, rehabilitated or\nimproved pursuant to this article until responsibility therefor is\ntransferred to the state university in accordance with section three\nhundred seventy-nine of this chapter;\n 11. Subject to the terms of any lease or agreement with third parties,\nwith respect to approved university-related economic development\nfacilities or approved university related economic development projects\nto develop, manage, operate, and/or lease, solely or in cooperation with\none or more entities or individuals, or to surrender to the appropriate\nstate official, for other public use or for sale, lease or other\ndisposition in accordance with law, real property made available to the\nfund for its corporate purposes by the state university whenever the\nstate university trustees determine that such real property is\nunnecessary for present or foreseeable future needs of the state\nuniversity;\n 12. To make and execute contracts, lease agreements, and all other\ninstruments necessary or convenient for the exercise of its corporate\npowers and the fulfillment of its corporate purposes under this article\nto an amount not exceeding seventy-five thousand dollars without prior\napproval by any other state officer or agency; notwithstanding the\nforegoing, all contracts, lease agreements, and all other instruments\nexceeding seventy-five thousand dollars in amount shall be subject to\nsection one hundred twelve of the state finance law;\n 13. To procure insurance against any loss in connection with any\nfacility leased to the fund under section three hundred seventy-eight of\nthis chapter, in such amounts, and from such insurers, as it deems\ndesirable;\n 14. To act as agent for, or to assist generally, the attorney general\nand the state commissioner of transportation in making land surveys,\ntopographical surveys and valuation appraisals of real property sought\nto be acquired by the state university trustees;\n 15. To engage the services of construction, engineering,\narchitectural, legal and financial consultants, surveyors and\nappraisers, on a contract basis or as employees, for professional\nservice and technical assistance and advice; and\n 16. To do any and all things necessary or convenient to carry out its\ncorporate purposes and exercise the powers given and granted to it in\nthis article.\n * 17. To construct, design/build (using a competitive selection\nprocess with due consideration of cost), develop, manage, lease and/or\noperate real property and facilities made available to the fund for its\ncorporate purposes by the state university related to academic incubator\nfacilities and a pharmaceutical research, development, which may also\ninclude a manufacturing facility located at the state university New\nYork college of technology at Farmingdale.\n * NB There are 2 sub 17's\n * 17. To construct, design/build, develop, manage and/or operate real\nproperty and facilities made available to the fund for its corporate\npurposes by the state university related to academic incubator and\napproved university-related economic development facilities;\n * NB There are 2 sub 17's\n * 18. To receive or acquire by gift, purchase or otherwise, real and\npersonal property, or services or other aid, including any reimbursement\nallowance offered or made available by any person, government agency or\ncorporation, including, but not limited to, any foundation or other\nnot-for-profit entity and to receive and use money from any source,\nincluding, but not limited to the dormitory authority of the state of\nNew York, or any other private or public source for the site acquisition\nand construction of a pharmaceutical research, development, which may\nalso include a manufacturing facility at the state university of New\nYork college of technology at Farmingdale.\n * NB There are 2 sub 18's\n * 18. With respect to approved university-related economic development\nfacilities, to act as agent for, and execute the powers of, a foundation\nor other not-for-profit entity created by or for the state university;\nand\n * NB There are 2 sub 18's\n 19. To receive or acquire by gift, purchase or otherwise, real and\npersonal property, or services or other aid, including any reimbursement\nallowance offered or made available by any person, government agency or\ncorporation, including, but not limited to, any foundation or other\nnot-for-profit entity and to receive and use money from any source,\nincluding, but not limited to the dormitory authority of the state of\nNew York, or any other private or public source for the site acquisition\nand construction of approved university-related economic development\nfacilities as set forth in section three hundred seventy-two-a of this\narticle.\n