New York § 1225-F General powers of the fund

New York Statutes

§ 1225-F — General powers of the fund

New York § 1225-F

Law PBAPublic Authorities

Title 9-ATransit Construction Fund

Art. 5Public Utility Authorities

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Bluebook

N.Y. Public Authorities § 1225-F (2026).

Text

§ 1225-f. General powers of the fund. The fund shall have the\nfollowing powers in addition to those specially conferred elsewhere in\nthis title:

(1)to sue and be sued;

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

(3)to make and alter by-laws for its organization\nand internal management;

(4)to prescribe a system of accounts for the\nfund;

(5)to purchase, receive, lease, accept jurisdiction over or\notherwise acquire real or personal property necessary and convenient for\nits corporate purposes; to execute and deliver deeds for real property\nheld in its own name; and to transfer, lease, sublease or otherwise make\nsuch real or personal property available to the transportation authority\nor the transit authority or their subsidiaries or to sell or otherwise\nto dispose of

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§ 1225-f. General powers of the fund. The fund shall have the\nfollowing powers in addition to those specially conferred elsewhere in\nthis title: (1) to sue and be sued; (2) to have a seal and alter the\nsame at its pleasure; (3) to make and alter by-laws for its organization\nand internal management; (4) to prescribe a system of accounts for the\nfund; (5) to purchase, receive, lease, accept jurisdiction over or\notherwise acquire real or personal property necessary and convenient for\nits corporate purposes; to execute and deliver deeds for real property\nheld in its own name; and to transfer, lease, sublease or otherwise make\nsuch real or personal property available to the transportation authority\nor the transit authority or their subsidiaries or to sell or otherwise\nto dispose of such real or personal property that, in the judgment of\nthe fund, is no longer necessary for its corporate purposes; (6) subject\nto other provisions of law, to transfer upon such terms and conditions\nas is deemed appropriate such sums of money as are not required for\nother purposes; (7) to make and execute contracts, leases, subleases and\nall other instruments or agreements necessary or convenient for the\nexercise of its corporate powers and purposes; (8) with the consent of\nthe transportation authority or the transit authority to use with or\nwithout compensation the agents, employees and facilities of those\nauthorities or their subsidiaries; (9) to engage the services of\nconstruction, engineering, architectural, legal and financial\nconsultants, surveyors and appraisers, on a contract basis or as\nemployees, for professional service and technical assistance and advice;\n(10) to cause, by agreement with the transportation authority, transit\nfacilities to be planned, designed, constructed, acquired, extended,\nreconstructed, rehabilitated, modernized, and otherwise improved, in\naccordance with the provisions of this title; (11) to procure such\ninsurance as is deemed necessary; (12) to accept, administer and\ndisburse federal and state aid and (13) to do any and all things\nnecessary or convenient to carry out its corporate powers and purposes.\n