§ 6275 — General powers

§ 6275. General powers. The fund shall have the following powers in\naddition to those specially conferred elsewhere in this article:\n (1) to sue and to be sued;\n (2) to have a seal and alter the same at its pleasure;\n (3) to make and alter by-laws for its organization and internal\nmanagement;\n (4) to prescribe a system of accounts, with the approval of the state\ncomptroller;\n (5) to accept jurisdiction over and to hold, use and improve, in\naccordance with such terms and conditions as the fund and the city\nuniversity shall determine any or all real property acquired by, under\nthe jurisdiction of, or assigned to the use of the board of higher\neducation for purposes of the city university, together with such rights\nand privileges as may be incidental and appurtenant thereto;\n (6) to purchase real property necessary or convenient for its\ncorporate purposes in its own name and to execute and deliver deeds for\nreal property held in its own name;\n (7) to purchase, receive, lease or otherwise acquire personal property\nnecessary and convenient for its corporate purposes and to transfer,\nsublease or otherwise make such personal property available to the board\nof higher education or the dormitory authority or to sell or otherwise\nto dispose of such personal property that, in the judgment of the fund,\nis no longer necessary for its corporate purposes;\n (8) subject to other provisions of law, to give, donate, transfer,\ngrant or lend to the city university upon such terms and conditions as\nis deemed appropriate such sums of money as are not required for other\npurposes;\n (9) to make and execute contracts, leases, subleases and all other\ninstruments or agreements necessary or convenient for the exercise of\nits corporate powers and purposes to an amount not exceeding\nseventy-five thousand dollars without prior approval by any other state\nofficer or agency; notwithstanding the foregoing, all contracts, leases,\nsubleases, and all other instruments or agreements exceeding\nseventy-five thousand dollars in amount shall be subject to section one\nhundred twelve of the state finance law;\n (10) with the consent of the board of higher education, to use the\nagents, employees and facilities of the city university;\n (11) 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;\n (12) to cause facilities to be designed, constructed, acquired,\nreconstructed, rehabilitated, improved, operated, maintained, furnished\nand equipped and made secure in accordance with the provisions of this\narticle;\n (13) to procure insurance against loss in connection with any facility\nin such amounts and from such insurers as it deems desirable;\n (14) to accept, administer and disburse federal, state, and city aid;\nand\n (15) to do any and all things necessary or convenient to carry out its\ncorporate powers and purposes.\n