§ 2676-f. 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 and issue bonds for any of its corporate purposes
or its projects and to provide for the rights of the holders thereof;

4. To make and alter by-laws for its organization and management, and,
subject to agreements with its bondholders, to make and alter rules and
regulations governing the exercise of its powers and the fulfillment of
its purposes under this title;

5. To acquire by purchase, grant, lease, gift, or otherwise and to
hold and use property necessary, convenient, or desirable to carry out
its corporate purposes, and to sell, convey, mortgage, lease, pledge,
exchange, or otherwise dispose of any such property in such manner as
the authority shall determine;

6. To acquire, construct, reconstruct, lease, expand, improve,
maintain, equip, furnish, or operate one or more projects and, if
necessary, to pay or finance the cost thereof;

7. To accept gifts, grants, loans, or contributions of funds or
property or financial or other aid in any form from, and enter into
contracts or other transactions with, the federal government, the state,
the county of Albany, or any public corporation or any other source, and
to use any such gifts, grants, loans, or contributions for any of its
corporate purposes;

8. To grant options to renew any lease with respect to any project or
projects and to grant options to buy any project at such price as the
authority may deem desirable;

9. To designate the depositories of its money;

10. To establish its fiscal year;

11. To enter into contracts, agreements and leases with the federal
government, the state, the county, any person or other public
corporation and to execute all instruments necessary or convenient to
accomplishing its corporate purposes;

12. To appoint such officers, employees, and agents as the authority
may require for the performance of its duties, in coordination with the
advance Albany county alliance, and to fix and determine their
qualifications, duties, and compensation subject to the provisions of
the civil service law and any applicable collective bargaining
agreement, and to retain or employ counsel, auditors, engineers, and
private consultants on a contract basis or otherwise for rendering
professional, management, or technical services and advice;

13. With the consent of the county executive, and in coordination with
the advance Albany county alliance, to use employees, agents,
consultants, and facilities of the county, paying the county its agreed
proportion of the compensation or costs;

14. To make and adopt 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;

15. To enter upon such lands, waters, or premises as in the judgment
of the authority may be necessary, convenient, or desirable for the
purpose of making surveys, soundings, borings, and examinations to
accomplish any purpose authorized by this title, the authority being
liable for any actual damage done;

16. To covenant and consent that the interest on any of its bonds or
notes issued pursuant to this title shall be includable, under the
United States Internal Revenue Code of 1986, as amended or any
subsequent corresponding internal revenue law of the United States, in
gross income of the holders of the bonds or notes to the same extent and
in the same manner that the interest on bills, bonds, notes or other
obligations of the United States is includable in the gross income of
the holders thereof under such code or any such subsequent law; and

17. To insure or provide for the insurance of the authority's property
or operations as required by law and also against such other risks as
the authority may deem advisable.