§ 1225-f. General powers of the fund. The fund shall have the
following powers in addition to those specially conferred elsewhere in
this title: (1) to sue and be sued; (2) to have a seal and alter the
same at its pleasure; (3) to make and alter by-laws for its organization
and internal management; (4) to prescribe a system of accounts for the
fund; (5) to purchase, receive, lease, accept jurisdiction over or
otherwise acquire real or personal property necessary and convenient for
its corporate purposes; to execute and deliver deeds for real property
held in its own name; and to transfer, lease, sublease or otherwise make
such real or personal property available to the transportation authority
or the transit authority or their subsidiaries or to sell or otherwise
to dispose of such real or personal property that, in the judgment of
the fund, is no longer necessary for its corporate purposes; (6) subject
to other provisions of law, to transfer upon such terms and conditions
as is deemed appropriate such sums of money as are not required for
other purposes; (7) to make and execute contracts, leases, subleases and
all other instruments or agreements necessary or convenient for the
exercise of its corporate powers and purposes; (8) with the consent of
the transportation authority or the transit authority to use with or
without compensation the agents, employees and facilities of those
authorities or their subsidiaries; (9) to engage the services of
construction, engineering, architectural, legal and financial
consultants, surveyors and appraisers, on a contract basis or as
employees, for professional service and technical assistance and advice;
(10) to cause, by agreement with the transportation authority, transit
facilities to be planned, designed, constructed, acquired, extended,
reconstructed, rehabilitated, modernized, and otherwise improved, in
accordance with the provisions of this title; (11) to procure such
insurance as is deemed necessary; (12) to accept, administer and
disburse federal and state aid and (13) to do any and all things
necessary or convenient to carry out its corporate powers and purposes.