* § 2464. General powers of the authority. Except as otherwise limited\nby this title, the authority shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To acquire, hold and dispose of personal property for its corporate\npurposes, including the power to purchase prospective or tentative\nawards in connection with the appropriation of real property;\n 4. To acquire, in the name of the authority, by purchase or\nappropriation, real property or rights or easements therein necessary or\nconvenient for its corporate purposes, and, except as may otherwise be\nprovided herein, to use the same so long as its corporate existence\nshall continue;\n 5. To make and alter by-laws for its organization and internal\nmanagement, and rules and regulat
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* § 2464. General powers of the authority. Except as otherwise limited\nby this title, the authority shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To acquire, hold and dispose of personal property for its corporate\npurposes, including the power to purchase prospective or tentative\nawards in connection with the appropriation of real property;\n 4. To acquire, in the name of the authority, by purchase or\nappropriation, real property or rights or easements therein necessary or\nconvenient for its corporate purposes, and, except as may otherwise be\nprovided herein, to use the same so long as its corporate existence\nshall continue;\n 5. To make and alter by-laws for its organization and internal\nmanagement, and rules and regulations governing the exercise of its\npowers and the fulfillment of its purposes under this title;\n 6. To appoint such officers and employees as it may require for the\nperformance of its duties, and to fix and determine their\nqualifications, duties, and compensation and to retain or employ\ncounsel, auditors, engineers, architects and private consultants on a\ncontract basis or otherwise for rendering professional or technical\nservices and advice;\n 7. To make contracts and leases, and to execute all instruments\nnecessary or convenient;\n 8. To examine and approve all leases and agreements of a participating\nmunicipality, relating to the sports facility;\n 9. To acquire, construct, reconstruct, construct additions to,\nimprove, maintain and operate sports facilities including, but not\nlimited to, buildings, structures, parking and other facilities\nancillary or appurtenant to such sports facilities as may be necessary\nor convenient until responsibility therefor may be transferred to the\nparticipating municipality;\n 10. To contract for and to accept any gifts or grants or loans of\nfunds or property or financial or other aid in any form from the federal\ngovernment or any agency or instrumentality thereof, or from the state\nor any agency or instrumentality thereof, or from any other source,\npublic or private, and to comply, subject to the provisions of this\ntitle, with the terms and conditions thereof;\n 11. To fix and collect any payments, fees and other charges for the\nuse of the sports facility subject to and in accordance with such\nagreements with bondholders as may be made as hereinafter provided;\n 12. To borrow money and issue negotiable bonds and notes or other\nobligations and to provide for and secure the payment thereof and to\nprovide for the rights of the holders thereof;\n 13. To invest any funds held in reserve or sinking funds, or any\nmoneys not required for immediate use or disbursement, at the discretion\nof the authority, in (a) obligations of the state or the United States\ngovernment, its agencies and instrumentalities, (b) obligations the\nprincipal and interest of which are guaranteed by the state or the\nUnited States government, (c) certificates of deposit of banks or trust\ncompanies in this state, secured, if the authority shall so require, by\nobligations of the United States or of the state of New York of a market\nvalue equal at all times to the amount of the deposit, and (d) as to the\nsaid reserve and sinking funds, other securities in which the trustee or\ntrustees of any public retirement system or pension fund has the power\nto invest the moneys thereof pursuant to article four-a of the\nretirement and social security law, each such reserve and sinking fund\nbeing treated as a separate fund for the purposes of the said article\nfour-a of the retirement and social security law;\n 14. To make plans, surveys, and studies necessary, convenient or\ndesirable to the effectuation of the purposes and powers of the\nauthority and to prepare recommendations in regard thereto;\n 15. To enter upon such lands, waters or premises as in the judgment of\nthe authority may be necessary, convenient or desirable for the purpose\nof making surveys, soundings, borings and examinations to accomplish any\npurpose authorized by this title, the authority being liable for actual\ndamage done;\n 16. To do all things necessary, convenient or desirable to carry out\nits purposes and for the exercise of the powers granted in this title.\n Notwithstanding the foregoing provisions of this section, no power\ngranted under this title shall be exercised by the authority without the\nprior submission of a plan to it by a participating municipality in\naccordance with the provisions of section twenty-four hundred sixty-five\nhereof.\n * NB (Disbanded March, 1980)\n