§ 2676-f. 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 and issue bonds for any of its corporate purposes\nor its projects and to provide for the rights of the holders thereof;\n 4. To make and alter by-laws for its organization and management, and,\nsubject to agreements with its bondholders, to make and alter rules and\nregulations governing the exercise of its powers and the fulfillment of\nits purposes under this title;\n 5. To acquire by purchase, grant, lease, gift, or otherwise and to\nhold and use property necessary, convenient, or desirable to carry out\nits corporate purposes, and to sell, convey, mortgage, lease,
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§ 2676-f. 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 and issue bonds for any of its corporate purposes\nor its projects and to provide for the rights of the holders thereof;\n 4. To make and alter by-laws for its organization and management, and,\nsubject to agreements with its bondholders, to make and alter rules and\nregulations governing the exercise of its powers and the fulfillment of\nits purposes under this title;\n 5. To acquire by purchase, grant, lease, gift, or otherwise and to\nhold and use property necessary, convenient, or desirable to carry out\nits corporate purposes, and to sell, convey, mortgage, lease, pledge,\nexchange, or otherwise dispose of any such property in such manner as\nthe authority shall determine;\n 6. To acquire, construct, reconstruct, lease, expand, improve,\nmaintain, equip, furnish, or operate one or more projects and, if\nnecessary, to pay or finance the cost thereof;\n 7. To accept gifts, grants, loans, or contributions of funds or\nproperty or financial or other aid in any form from, and enter into\ncontracts or other transactions with, the federal government, the state,\nthe county of Albany, or any public corporation or any other source, and\nto use any such gifts, grants, loans, or contributions for any of its\ncorporate purposes;\n 8. To grant options to renew any lease with respect to any project or\nprojects and to grant options to buy any project at such price as the\nauthority may deem desirable;\n 9. To designate the depositories of its money;\n 10. To establish its fiscal year;\n 11. To enter into contracts, agreements and leases with the federal\ngovernment, the state, the county, any person or other public\ncorporation and to execute all instruments necessary or convenient to\naccomplishing its corporate purposes;\n 12. To appoint such officers, employees, and agents as the authority\nmay require for the performance of its duties, in coordination with the\nadvance Albany county alliance, and to fix and determine their\nqualifications, duties, and compensation subject to the provisions of\nthe civil service law and any applicable collective bargaining\nagreement, and to retain or employ counsel, auditors, engineers, and\nprivate consultants on a contract basis or otherwise for rendering\nprofessional, management, or technical services and advice;\n 13. With the consent of the county executive, and in coordination with\nthe advance Albany county alliance, to use employees, agents,\nconsultants, and facilities of the county, paying the county its agreed\nproportion of the compensation or costs;\n 14. To make and adopt plans, surveys, and studies necessary,\nconvenient, or desirable to the effectuation of the purposes and powers\nof the authority and to prepare recommendations in regard thereto;\n 15. To enter upon such lands, waters, or premises as in the judgment\nof the authority may be necessary, convenient, or desirable for the\npurpose of making surveys, soundings, borings, and examinations to\naccomplish any purpose authorized by this title, the authority being\nliable for any actual damage done;\n 16. To covenant and consent that the interest on any of its bonds or\nnotes issued pursuant to this title shall be includable, under the\nUnited States Internal Revenue Code of 1986, as amended or any\nsubsequent corresponding internal revenue law of the United States, in\ngross income of the holders of the bonds or notes to the same extent and\nin the same manner that the interest on bills, bonds, notes or other\nobligations of the United States is includable in the gross income of\nthe holders thereof under such code or any such subsequent law; and\n 17. To insure or provide for the insurance of the authority's property\nor operations as required by law and also against such other risks as\nthe authority may deem advisable.\n