§ 2704 — Powers of the authority

New York § 2704

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 29: Development Authority of the North Country Act
• Art. 8: Miscellaneous Authorities

Text

§ 2704. Powers of the authority. Except as otherwise limited by this\ntitle, the authority shall have power:\n 1. to make and alter by-laws for the regulation of its affairs and the\nconduct of its business;\n 2. to adopt an official seal and alter the same at pleasure;\n 3. to maintain a principal office in the city of Watertown, and\nregional offices at such place or places as it may designate within the\nparticipating counties;\n 4. to sue and be sued;\n 5. to make and execute contracts and all other instruments necessary\nor convenient for the exercise of its powers and functions under this\ntitle;\n 6. pursuant to a plan approved, or amended and approved, pursuant to\nsection twenty-seven hundred five of this title, in connection with any\nproject, to determine the feasibility, location and character of such\nproject and to acquire, construct, or to acquire any interest in or\nright to capacity in, and to reconstruct, renovate, replace, maintain,\nrepair, enlarge, extend, operate, lease, as lessee or lessor, and\nregulate such project, to enter into contracts for any or all of such\npurposes, to enter into contracts for the management and operation of a\nproject and, to enter into contracts for any or all of such purposes,\nincluding contracts for the management and operation of such project and\nto sell, lease, mortgage or otherwise dispose of any project or part\nthereof to the state, any person, public corporation or municipality;\n 7. to borrow money and to issue bonds of the authority for any of its\ncorporate purposes, to secure the same with its revenues or other funds\nand otherwise to provide for and secure the payment thereof and to\nprovide for the rights of holders thereof and to fund or refund the\nsame.\n 8. to make contracts and to execute all necessary or convenient\ninstruments, including evidences of indebtedness, negotiable or\nnonnegotiable in each case for securing its bonds or to provide direct\npayment of any costs which the authority is authorized to pay;\n 9. subject to any limitation imposed or authorized by law, to fix and\nrevise from time to time and charge and collect rates, rents, fees and\ncharges for the use of and for the services furnished or to be furnished\nby a project or any portion thereof and to contract with any person,\npartnership, association or authority or other body public or private\nincluding a public corporation in respect thereof provided, however,\nthat the authority shall not have the power, within any city, to collect\nrentals, charges, rates or fees from the owners of real estate, or the\noccupants of real estate (other than the occupants of premises owned or\ncontrolled by such authority, or by the state or any civil division\nthereof), for services or facilities furnished or supplied in connection\nwith such real estate, if such services or facilities are of a character\nor nature that as of the enactment of this act or formerly were\nfurnished or supplied by the city, unless the electors of the city shall\napprove the granting to such authority of such powers by a majority vote\nat a general or special election in such city;\n 10. pursuant to a plan approved, or amended and approved, pursuant to\nsection twenty-seven hundred five of this title and upon approval by\nresolution of the governing body of the county in which such property is\nlocated, to condemn, in the name of the authority, pursuant to the\neminent domain procedure law, any real property within the participating\ncounties required by the authority for any project to carry out the\npowers granted by this title;\n 11. to employ consulting engineers, architects, attorneys,\naccountants, construction and financial experts, superintendents,\nmanagers, and such other agents as may be necessary in its judgment, and\nto fix their compensation;\n 12. pursuant to a plan approved, or amended and approved, pursuant to\nsection twenty-seven hundred five of this title, to assist in the\nplanning, development and construction of and the financing of, the cost\nof any project whether or not such project is to be owned or operated by\nthe authority, including any project as defined in title one of article\neighteen-A of the general municipal law, provided, however, that the\nauthority shall not assist in the construction of or financing of the\ncost of a project as defined in title one of article eighteen-A of the\ngeneral municipal law unless such project has first been approved by\nresolution of the governing body of each municipality in which such\nproject is located;\n 13. to receive and accept loans, grants, aid in any form, gifts or\ncontributions from any source of either money, property, labor or other\nthings of value and, subject to the provisions of this title, to comply\nwith the terms and conditions thereof;\n 14. to enter into any lease of or to mortgage any property, project\nand the site thereof;\n 15. subject to any agreement with the holders of its bonds, to invest\nmoneys of the authority not required for immediate use in obligations of\nthe state or the United States or obligations the principal and interest\nof which are guaranteed by the state or the United States or in\ncertificates of deposit or time deposits secured in such manner as the\nauthority shall determine, or in obligations of any agency of the state\nor the United States which may from time to time be legally purchased by\nsavings banks within the state as an investment of funds belonging to\nthem or in their control, or in any other obligations in which the\ncomptroller of the state is authorized to invest pursuant to section\nninety-eight of the state finance law or any successor provision of law;\n 16. subject to any agreement with the holders of its bonds, to\npurchase bonds, of the authority out of any funds or moneys of the\nauthority available therefore, and to hold, cancel or resell the bonds;\n 17. to contract to render and to render such services to the United\nStates, or any public agency, public authority, municipality or\npolitical subdivision of the state, as the United States, such public\nagency, public authority, municipality or political subdivision shall\nrequest, with respect to the custody, administration, management or\nservicing of obligations, projects and property of such entity,\nincluding but not limited to the use of the premises, personnel and\nproperty of the authority, and may provide for reimbursement to the\nauthority for any expenses necessarily incurred by the authority in\nrendering such services;\n 18. to appoint such officers, employees and agents as it may require,\nprescribe their duties and qualifications and fix their compensation;\n 19. to establish such reserves as the authority deems necessary or\nappropriate;\n 20. to acquire by lease, purchase or gift, hold and dispose of real\nand personal property (whether tangible or intangible), which are\nlocated within the state, or any interest therein, for its corporate\npurposes, and, subject to any agreement with the holders of its bonds,\nto sell any mortgage or loan or other personal property acquired by the\nauthority, at a public or private sale and at such price or prices as it\nshall determine;\n 21. to enter into agreements, in its discretion, to pay annual sums in\nlieu of taxes to any municipality, political subdivision or taxing\ndistrict of the state in respect of any real property which is owned by\nthe authority and located in such municipality, political subdivision or\ntaxing district;\n 22. to contract with persons, municipalities and the United States for\nthe use of projects and for the fixing and collection of rates, rentals,\nfees and other charges for the use of such projects, or services\nrendered by, or any commodities furnished by the authority so as to\nprovide revenues sufficient at all times to pay, as the same shall\nbecome due, the principal and interest on the bonds, notes or other\nobligations of the authority together with the maintenance of proper\nreserves therefor, in addition to paying, as the same shall become due,\nthe expenses of operating and maintaining the properties of the\nauthority, together with proper reserves for debt service, depreciation,\nmaintenance and contingencies and all other obligations and indebtedness\nof the authority;\n 23. to coordinate the activities of state agencies and authorities to\nprovide community facilities in the region;\n 24. to participate in federal programs for the insurance of loans\nincluding programs which require the authority to share any loss arising\nout of any loan insured by the federal government; and\n 25. to do all things necessary or convenient to carry out the purposes\nof the authority.\n