§ 1048-g. General powers of the water board. Except as otherwise
limited by this title, the water board shall have power:

1. To sue and be sued;

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

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

4. To establish, fix, revise, charge and collect and enforce the
payment of all fees, rates, rents and other service charges for the use
of, or services furnished by the water system, so as to receive revenues
which, together with other revenues available to the board, if any,
shall be at least sufficient at all times so that such system or systems
shall be placed on a self-sustaining basis in accordance with section
one thousand forty-eight-j of this title;

5. To enter into contracts and to execute all instruments necessary or
convenient or desirable for the purposes of the water board to carry out
any powers expressly given it in this title, provided nothing herein
contained shall authorize the water board to borrow money or otherwise
contract indebtedness;

6. To enter into agreements pursuant to sections one thousand
forty-eight-h and one thousand forty-eight-i of this title with the
authority and the city to provide a means whereby the authority shall
finance the cost of constructing water projects, as described in the
agreement, and the water board may agree to assume title to the water
system, and to raise revenues from users through fees, rates, rents or
other service charges necessary or appropriate to secure such financing
and to pay the cost of the operation, management and repair of such
water system;

7. To acquire, purchase, lease as lessee, hold and use any property,
real, personal or mixed, or any interest therein necessary or desirable
to carry out the purposes of this title and, subject to any limitations
in any agreement with the city entered into pursuant to section one
thousand forty-eight-h of this title, to sell, lease as lessor, transfer
or otherwise dispose of any such property or interest therein;

8. 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, subject to the provisions of
the civil service law and rules of the civil service commission of the
city 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;

9. To acquire from the city title to the water system of such city;

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

11. To make use of existing studies, surveys, plans, data and other
material in the possession of the city in order to avoid duplication of
effort, and such city is hereby authorized to make the same available to
the water board and otherwise to assist it in the performance of its
functions;

12. With the consent of the common council of the city to use officers
or employees of the city and to pay a proper portion of the compensation
or costs for the services of such officers or employees;

13. To conduct investigations and hearings in the furtherance of its
general purposes, and in aid thereof to have access to any books,
records or papers relevant thereto; and if any person whose testimony
shall be required for the proper performance of the duties of the water
board shall fail or refuse to aid or assist the water board in the
conduct of any investigation or hearing, or to produce any relevant
books, records or other papers, the water board is authorized to apply
for process of subpoena, to issue out of any court of general original
jurisdiction whose process can reach such person, upon due cause shown;

14. To apply for and to accept any gifts or grants of funds or
property or financial or other aid in any form from the federal
government or any agency or instrumentality thereof, or from the state
or any state agency, the city or from any other sources, for any or all
of the purposes specified in this title, and to comply, subject to the
provisions of this title, with the terms and conditions thereof;

15. To invest moneys not required for immediate use or disbursement,
subject to such restrictions as may be imposed by any agreement with the
authority, in such obligations or deposits with such banks or trust
companies as it may determine and designate, provided that any such
deposit with a bank or trust company shall be continuously and fully
secured by direct obligations of the city, the state or the United
States of America, or obligations the principal of and interest on which
are guaranteed by the state or the United States of America, of a market
value equal at all times to the amount of the deposit;

16. To establish and maintain such reserves, special funds and
accounts, to be held in trust or otherwise, as may be required by any
agreement with the authority and the city; and

17. To do all things necessary, convenient or desirable to carry out
its purposes and for the exercise of the powers granted in this title.