New York Laws
Title 28-AA - Chautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority
2642-E - General Powers of the Authority.

§ 2642-e. General powers of the authority. Except as otherwise limited
by this title, the authority shall have power:

1. To sue and be sued;

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

3. To borrow money;

4. To invest any funds held in reserve or sinking funds, or any monies
not required for immediate use or disbursement, at the discretion of the
authority, in obligations in which the state comptroller may invest
pursuant to section ninety-eight or ninety-eight-a of the state finance
law;

5. To make and alter by-laws for its organization and internal
management, and rules and regulations governing the exercise of its
powers and the fulfillment of its purposes under this title;

6. To enter into contracts and leases and to execute all instruments
necessary or convenient;

7. To acquire, hold and dispose of real or personal property in the
exercise of its powers for its corporate purposes;

8. The authority may, whenever it shall determine that it is not in
conflict with the interests or purposes of the authority, rent, lease or
grant easements or other rights in, any land or property of the
authority, including the granting of municipal utility easements;

9. To appoint such officers and employees as it may require for the
performance of its duties, and to fix and determine their
qualifications, duties, and compensation and to retain or employ
counsel, auditors, engineers and private consultants on a contract basis
or otherwise for rendering professional or technical services and
advice; such counsel, auditors, engineers, and private consultants,
officers and employees may not be a member of the authority;

10. To make plans, surveys, and studies necessary, convenient or
desirable to the effectuation of the purposes and powers of the
authority and to prepare recommendations in regard thereto;

11. To contract for and accept any gifts or grants, subsidies or loans
of funds or property or financial or other aid in any form from the
federal or state government or Commonwealth government or any agency or
instrumentality thereof, or from any other source, public or private,
and to comply, subject to the provisions of this title, with the terms
and conditions thereof;

12. To designate the depositories of its money;

13. To establish its fiscal year; and

14. To do all things necessary or convenient or desirable to carry out
its purposes and exercise the powers expressly given in this title.