N.Y. Pub. Auth. Law § 1428

Current through 2024 NY Law Chapter 457

Section 1428 - Purpose and powers of the authority

The purpose of the authority shall be to construct, operate and maintain one or more projects in the city. To carry out said purpose, the authority shall have power:

1. To sue and be sued;

2. To have a seal and alter the same at pleasure;

3. To acquire, hold and dispose of personal property for its corporate purposes, including the power to purchase prospective or tentative awards in connection with the condemnation of real property;

4. To acquire by purchase, grant, lease, gift, condemnation or otherwise, and use real property necessary or convenient for its corporate purposes and to sell, convey, mortgage, lease, pledge, exchange, or otherwise dispose of such property in such manner as the authority may determine; provided that the location of the site of any project shall be subject to the prior approval of the planning board of the city. All real property acquired by the authority by condemnation shall be acquired in the manner provided in the eminent domain procedure law or in the manner provided by law for the condemnation of land by the city;

5. To make by-laws for the management and regulation of its affairs, and, subject to agreements with bondholders, for the regulation of the project;

6. With the consent of the city to use agents, employees, and facilities of the city, including the corporation counsel, paying to the city its agreed proportion of the compensation or costs;

7. To appoint officers, agents and employees, to prescribe their qualifications and to fix their compensation; subject, however, to the provisions of the civil service law, as hereinafter provided;

8. To make contracts and leases, and to execute all instruments necessary or convenient;

9. To construct such buildings, structures and facilities as may be necessary or convenient;

10. To construct, develop, maintain and operate the projects and to contract in relation thereto with the city and with other persons, and to sell, lease or otherwise dispose of any project or part thereof to any person, provided such person shall undertake to operate and maintain any project or part thereof subject to such conditions and limitations as the authority may determine to be in the public interest and consistent with its public purposes;

11. To accept grants, loans or contributions from the United States, the state of New York, or any agency or instrumentality of either of them, or the city, and to expend the proceeds for any purposes of the authority;

12. To fix and collect rentals, fees and other charges for the use of the projects or any of them subject to and in accordance with such agreements with bondholders as may be made as hereinafter provided;

13. To construct, operate or maintain in the projects all facilities necessary or convenient in connection therewith; and to contract for the construction, operation or maintenance of any parts thereof or for services to be performed; to rent parts thereof, and grant concessions, all on such terms and conditions as it may determine.

14. To enter into agreements with one or more financing agencies to provide for the acceptance by the authority of credit cards as a means of payment of rentals, rates, fees and other charges owed by a person to the authority. Any such agreement shall govern the terms and conditions upon which a credit card proffered as means of payment of a fee, rate, rent or other charge shall be accepted or declined and the manner in and conditions upon which the financing agency shall pay to the authority the amount of fees, rates, rents or other charges paid by means of a credit card pursuant to such agreement. Any such agreement may provide for the payment by the authority to such financing agency of fees for the services provided by such financing agency pursuant to such agreement, which fees may consist of a discount deducted from or payable in respect to the amount of such fee, rate, rent or other charge or otherwise as the agreement may provide. If the authority has entered into an agreement pursuant to this subdivision, it may accept credit cards as a means of payment of fees, rates, rents or other charges, as provided in any such agreement and may pay such fees as are specified in such agreement to such financing agency thereunder. The authority may promulgate any rules or regulations necessary to carry out the provisions of this subdivision. For the purposes of this subdivision, the terms "credit card," "financing agency" and "person" shall have the same meaning as provided in subdivision (a) of section five of the general municipal law.

N.Y. Pub. Auth. Law § 1428