§ 2642-E — General powers of the authority

New York § 2642-E

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 28-AA: Chautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority
• Art. 8: Miscellaneous Authorities

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§ 2642-e. 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 borrow money;\n 4. To invest any funds held in reserve or sinking funds, or any monies\nnot required for immediate use or disbursement, at the discretion of the\nauthority, in obligations in which the state comptroller may invest\npursuant to section ninety-eight or ninety-eight-a of the state finance\nlaw;\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 enter into contracts and leases and to execute all instruments\nnecessary or convenient;\n 7. To acquire, hold and dispose of real or personal property in the\nexercise of its powers for its corporate purposes;\n 8. The authority may, whenever it shall determine that it is not in\nconflict with the interests or purposes of the authority, rent, lease or\ngrant easements or other rights in, any land or property of the\nauthority, including the granting of municipal utility easements;\n 9. 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 and private consultants on a contract basis\nor otherwise for rendering professional or technical services and\nadvice; such counsel, auditors, engineers, and private consultants,\nofficers and employees may not be a member of the authority;\n 10. 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 11. To contract for and accept any gifts or grants, subsidies or loans\nof funds or property or financial or other aid in any form from the\nfederal or state government or Commonwealth government or any agency or\ninstrumentality thereof, or from any other source, public or private,\nand to comply, subject to the provisions of this title, with the terms\nand conditions thereof;\n 12. To designate the depositories of its money;\n 13. To establish its fiscal year; and\n 14. To do all things necessary or convenient or desirable to carry out\nits purposes and exercise the powers expressly given in this title.\n