§ 553. Powers of the authority. 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 dispose of personal property
with a value of five hundred thousand dollars or less by public auction
in accordance with guidelines adopted by the authority pursuant to title
five-A of article nine of this chapter. The board shall adopt guidelines
that shall provide for advertising and such other safeguards as the
authority may deem appropriate in the public interest.

* NB Effective until June 30, 2028

* 3. To acquire, hold and dispose of personal property for its
corporate purposes;

* NB Effective June 30, 2028

4. To acquire, in the name of the city, by purchase or condemnation
real property or rights or easements therein necessary or convenient for
its corporate purposes, and, except as may otherwise be provided herein,
to use the same so long as its corporate existence shall continue;

4-a. Whenever any real property is determined by the authority to be
unnecessary for its corporate purpose.

(a) to surrender such real property to the board of estimate of the
city for other public use or purpose of such city, or

(b) to sell and convey or lease in behalf of such city any real
property acquired by the city at the expense of the authority. The
proceeds of any such sale or lease shall be paid to the authority and
applied to its corporate purpose. Any such lease shall run for a term
not to exceed ten years, and a renewal thereof for a term not to exceed
ten years.

4-b. To apply for and receive and accept grants of property, money and
services and other assistance offered or made available to it by any
person, government or agency whatever, which it may use to meet capital
or operating expenses and for any other use within the scope of its
powers, and to negotiate for the same upon such terms and conditions as
the authority may determine to be necessary, convenient or desirable.
Subject to the rights of the holders of any outstanding bonds, notes or
other obligations of the authority, metropolitan transportation
authority, and New York city transit authority, and to facilitate the
efficient financial management of the authority, metropolitan
transportation authority, its subsidiary corporations, and New York city
transit authority and its subsidiary corporations (the "affiliated
entities"), the authority may, and may permit and direct any affiliated
entity to, transfer revenues, subsidies and other monies or securities
to one or more funds or accounts of another affiliated entity for use by
such other affiliated entity, provided at the time of such transfer it
is reasonably anticipated that the monies and securities so transferred
will be reimbursed, repaid or otherwise provided for by the end of the
next succeeding calendar year if reimbursement or repayment is required
by law or by any agreement to which any of the affected affiliated
entities is subject. Any revenues of an affiliated entity that are
transferred to another affiliated entity, which transfer was not
authorized by a provision of law other than this subdivision, shall be
considered to be required to be repaid to the affiliated entity which
was the source of such revenues by the end of the next succeeding
calendar year following such transfer.

5. To make by-laws for the management and regulation of its affairs,
and subject to agreements with bondholders, rules and regulations for
the regulation of the use of the project and the establishment and
collection of tolls thereon. Violations of such rules and regulations
shall be a misdemeanor punishable by a fine of not exceeding fifty
dollars or by imprisonment for not longer than thirty days, or both,
except that violation of any rule or regulation governing or regulating
traffic on the projects of the authority shall be a traffic infraction
as the same is defined in the vehicle and traffic law and shall be
punishable as such;

6. With the consent of the city to use agents, employees and
facilities of the city, paying its proper proportion of the compensation
or cost, and to use the corporation counsel as legal adviser;

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

7-a. Notwithstanding any inconsistent provision of law, the bridge and
tunnel officers employed by the authority shall have the power to issue
simplified traffic informations for traffic infractions as defined in
section one hundred fifty-five of the vehicle and traffic law, committed
on the sites owned, operated and maintained by the triborough bridge and
tunnel authority, such informations to be administered pursuant to the
provisions of title A of chapter forty of the administrative code of the
city of New York or article two-A of the vehicle and traffic law, as
applicable and also shall have the power to issue notices of violation
for transit infractions committed in and about any or all of the
facilities, equipment or real property owned, occupied or operated by
the metropolitan transportation authority or its subsidiaries and the
New York city transit authority and its subsidiaries, as provided and in
accordance with section twelve hundred nine-a of this chapter. Nothing
set forth in this subdivision shall be construed to impede, infringe or
diminish the rights and benefits that accrue to employees and employers
through collective bargaining agreements, or impact or change an
employee's membership in a bargaining unit.

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

9. To acquire, design, construct, maintain, operate, improve and
reconstruct, so long as its corporate existence shall continue, the
following projects,

(a) a bridge heretofore constructed, known as Robert F. Kennedy
bridge, over the East river from the borough of Queens to the boroughs
of Manhattan and the Bronx, over and across Ward's island and Randall's
island in said river, together with such incidental bridges and
structures as shall be necessary or convenient in order to give access
from the bridge to both of said islands, together with approaches to
said bridges (herein collectively referred to as the "Robert F. Kennedy
bridge project"); and

(b) a bridge heretofore constructed, known as Bronx-Whitestone bridge,
over the East river from a point at or near Whitestone in the borough of
Queens to the borough of the Bronx, together with approaches to such
bridge (herein collectively referred to as the "Whitestone bridge
project"); and

(c) a bridge heretofore constructed, known as Henry Hudson bridge,
across the Harlem river ship canal together with approaches to such
bridge and together with so much of the parkway known as Henry Hudson
parkway as extends southerly from said bridge through Inwood Hill park
to the northerly end of Riverside drive, (as it was before the
construction of said parkway) (herein collectively referred to as the
"Henry Hudson bridge project"); and

(d) a bridge heretofore constructed, known as Marine parkway bridge,
to be known hereafter as the Marine parkway-Gil Hodges memorial bridge,
from the borough of Brooklyn across the waters of Rockaway inlet to
Jacob Riis park in the borough of Queens, together with the approaches
to such bridge and together with the parkway of which said bridge is a
part, (and the parking field connected therewith), from and including
the toll plaza north of said bridge extending eastwardly from said
bridge to the easterly boundary of Jacob Riis park (herein collectively
referred to as the "Marine parkway bridge project"); and

(e) a bridge heretofore constructed known as Cross Bay parkway bridge,
to be known hereafter as the Cross Bay Veterans Memorial bridge, from
Big Egg marsh in Jamaica bay in the borough of Queens across the waters
of Beach channel to Rockaway peninsula in said borough, together with
the parkway known as Cross Bay parkway, of which said bridge is a part,
from and including the toll plaza north of said bridge southerly to the
right of way of the Long Island railroad on Rockaway peninsula (herein
collectively referred to as the "Cross Bay parkway bridge project"); and

(f) a vehicular tunnel or tunnels heretofore constructed, known as
Queens Midtown tunnel, under the East river from the borough of
Manhattan to the borough of Queens, together with such incidental
bridges and tunnels, including but not limited to, a tunnel or tunnels
or bridge across Newtown creek from the borough of Queens to the borough
of Brooklyn and such other structures, appurtenances, facilities and
approaches as shall be necessary or convenient; and

(g) a vehicular tunnel or tunnels under construction, known as Hugh L.
Carey tunnel, under the East river from the southerly end of the borough
of Manhattan to the general vicinity of Hamilton avenue in the borough
of Brooklyn, together with such incidental tunnels and such other
structures, appurtenances, facilities and approaches as shall be
necessary or convenient; and

(h) a vehicular tunnel or tunnels or bridge, herein called the
Brooklyn Richmond project, under or across New York bay from the borough
of Richmond to the borough of Brooklyn, together with such incidental
tunnels, bridges and such other structures, appurtenances, facilities
and approaches as shall be necessary or convenient; and

(i) a vehicular tunnel or tunnels or arterial highway across the
borough of Manhattan connecting the Queens Midtown tunnel with the
Lincoln (Midtown Hudson) tunnel, together with such incidental tunnels
and such other structures, appurtenances, facilities and approaches as
shall be necessary or convenient; and

(j) Bus stations or terminals or automobile parking garages at or in
the vicinity of the Columbus circle in the borough of Manhattan and of
the Manhattan plazas of the Queens Midtown and Hugh L. Carey tunnels.
Any such project may, subject to zoning restrictions, include space and
facilities for any or all of the following: public recreation, business,
trade and other exhibitions, sporting and athletic events, public
meetings, conventions and all kinds of assemblages, and in order to
obtain additional revenues, space and facilities for business and
commercial purposes. Whenever the authority deems it to be in the public
interest, the authority may lease any such project or any part or parts
thereof or contract for the management and operation thereof or of any
part or parts thereof. Any such lease or contract may be for a period of
not exceeding ten years, or, if any of the revenues therefrom are or are
to be pledged to secure bonds then such lease or contract may be for a
period extending not later by more than one year than the last maturity
of such bonds.

(k) Subject to and in accordance with all contract provisions with
respect to any bonds and the rights of the holders of bonds, a vehicular
bridge across the East river between the boroughs of the Bronx and
Queens, east of the Bronx-Whitestone bridge, together with such
incidental bridges and other structures, appurtenances, facilities and
approaches as shall be necessary or convenient (herein collectively
referred to as the "Throgs Neck bridge project"). With the consent of
the United States of America, the Throgs Neck bridge project or a
portion thereof, if deemed necessary or convenient by the authority, may
be constructed upon or pass over any part of the military reservation
known as Fort Schuyler and owned by the United States of America. No
lands, easements or rights in land shall be acquired by the authority
for the purposes of this paragraph without the prior consent of the
board of estimate of the city.

(l) Subject to section five hundred fifty-three-b of this title, a
convention and exhibition center, including facilities ancillary or
functionally related thereto, to be built in New York county at a
location generally bounded by thirty-ninth street on the north,
thirtieth street on the south, eleventh avenue on the east and twelfth
avenue on the west (herein referred to as the convention center).

(m) Subject to section five hundred fifty-three-c of this title, the
acquisition of new rapid transit cars and the transfer of the same to
the New York city transit authority for a nominal consideration. The
authority shall have no obligation to operate, repair, maintain or
reconstruct such cars subsequent to their acquisition and transfer nor
shall it be liable to the New York city transit authority by reason of
any warranty, express or implied, in respect to such cars. Manufacturers
or other warranties furnished to the authority in connection with the
purchase of such cars shall be assigned to the New York city transit
authority for enforcement.

(n) Subject to section five hundred fifty-three-c of this title, the
rehabilitation of existing rapid transit cars of the New York city
transit authority upon such terms and conditions as shall be agreed to
by the parties. The authority shall have no obligation to operate,
repair, maintain or reconstruct such cars subsequent to the
rehabilitation and transfer back to the New York city transit authority
nor shall it be liable to the New York city transit authority by reason
of any warranty, express or implied, in respect to such cars.
Manufacturers or other warranties furnished to the authority in
connection with the purchase of parts or materials for such cars shall
be assigned to the New York city transit authority for enforcement.

(o) Subject to section five hundred fifty-three-c of this title, the
acquisition of new diesel self-propelled railroad passenger cars and the
transfer of the same to the metropolitan transportation authority, for a
nominal consideration, for use on commuter railroads owned or controlled
by the metropolitan transportation authority. The authority shall have
no obligation to operate, repair, maintain or reconstruct such cars
subsequent to their acquisition and transfer, nor shall it be liable to
the metropolitan transportation authority by reason of any warranty,
express or implied, in respect of such cars. Manufacturers or other
warranties furnished to the authority in connection with the purchase of
such cars shall be assigned to the metropolitan transportation authority
for enforcement.

(p) Subject to section five hundred fifty-three-c of this title, the
acquisition of land in the name of the authority in the vicinity of Penn
Station in the city of New York and/or the improvement of such land for
the benefit of the Long Island Rail Road for a lay-up yard and other
railroad purposes and the transfer of the said land and any improvements
thereon to the metropolitan transportation authority, parent corporation
of the said railroad, for a nominal consideration. The authority shall
have no obligation to operate, repair, maintain or reconstruct such land
or its improvements subsequent to such transfer.

(r) In its discretion and subject to and in accordance with all
contract provisions with respect to any bonds and the rights of the
holders of bonds, at the request of the New York city transit authority
or the metropolitan transportation authority, (i) the planning for and
the design, acquisition, construction, improvement, reconstruction or
rehabilitation, in the name of the authority, of any capital asset,
whether in the nature of personal or real property (or any interest
therein) which is used or useful for a transit or transportation purpose
other than a marine or aviation purpose of the requesting authority or
its designated subsidiary (and in the case of such assets then owned,
operated by or under lease to the requesting authority or its designated
subsidiary, the receipt by the authority of the use, occupancy, control
or possession of such assets for the purpose of planning, designing,
constructing, improving, reconstructing or rehabilitating the same) and
the transfer or transfer back of such asset to the requesting authority,
its designated subsidiary or other designee for a nominal consideration
upon its acquisition or upon the completion of such improvement,
construction, reconstruction or rehabilitation; or, alternatively or in
combination with the foregoing, (ii) the making of capital grants to the
requesting authority or its designated subsidiary to permit it to
undertake and to finance such planning, design, acquisition,
improvement, construction, reconstruction or rehabilitation, or,
alternatively or in combination with the foregoing, (iii) the financing
of all or any part of the costs to the authority or to any other person
or entity, public or private, of such planning, design, acquisition,
construction, improvement, reconstruction or rehabilitation of any such
capital asset through or accompanied by a leasing of the asset by such
person or entity to the authority or through or accompanied by a sale by
the authority to any such person or entity and leaseback to the
authority, in each case for subleasing to the requesting authority, its
designated subsidiary or other designee for a nominal rental, except
that such leasing or leaseback from such person or entity may be
directly to the requesting authority or its designated subsidiary or
other designee, for consideration, with the consent and at the expense
of the authority. The foregoing authorization shall extend to and
include the continuation of projects enumerated in paragraphs (m), (n),
(o) and (p) of this subdivision without regard to any limitations set
forth in section five hundred fifty-three-c of this title. The authority
shall have no obligation to operate or, except as may otherwise be
provided in any lease to which it may be a party as aforesaid, repair or
maintain any capital asset after its acquisition, construction,
improvement, reconstruction or rehabilitation and subsequent transfer,
lease or sublease, nor shall it be liable to the transferee, lessee or
sublessee by reason of any warranty, express or implied, in respect
thereof. Warranties furnished in connection with such acquisition,
improvement, construction, reconstruction or rehabilitation shall be
assignable and assigned as directed by the requesting authority and
approved by the authority.

(s) The central business district tolling program to the extent
specified in article forty-four-C of the vehicle and traffic law and in
this title.

The word "approaches" shall include all structures necessary or
convenient to give access to the project from connecting streets and
roads;

10. In its discretion

(a) in the case of the Robert F. Kennedy bridge project and the
Whitestone bridge project to pay to the city not exceeding thirty-five
per centum of the cost (including awards for damages and expenses) of
the acquisition of land for the widening of existing roads, streets,
parkways or avenues and for new roads, streets, parkways or avenues,
connecting with the approaches.

(b) to purchase from the persons, partnerships, associations or
corporations who were the owners of any land acquired for the widening
of existing roads, streets, parkways or avenues or for new roads,
streets, parkways or avenues connecting with the approaches or of any
interest in such land at the date title to such land was vested in the
city in any proceeding heretofore or hereafter instituted for the
acquisition thereof by condemnation, or from their successors in
interest or legal representatives, their right, title, interest and/or
claim in and to the award or awards or any part thereof to be made in
such proceeding after the date of such purchase, and to take an
assignment thereof to the authority, provided, however, that in the case
of the Robert F. Kennedy bridge project and the Whitestone bridge
project the aggregate amount expended by the authority on account of all
such purchases together with the aggregate amount paid to the city in
accordance with paragraph (a) of this subdivision, shall not exceed
thirty-five per centum of the cost (including awards for damages and
expenses) of the acquisition of land for the widening of existing roads,
streets, parkways or avenues, and for new roads, streets, parkways or
avenues, connecting with the approaches,

(c) to construct, in whole or in part, an elevated parkway in the
borough of Brooklyn from the southerly terminus of the Gowanus creek
bridge project to a point at or near Owls Head park connecting with the
Gowanus creek bridge project, and

(d) with the consent of the city to construct and develop for the
purpose of public parks so much of the area of lands, selected as in
this title provided, or otherwise acquired or to be acquired and used in
connection with the project and with new or existing roads, streets,
parkways or avenues connecting with such projects, and so much of the
area of lands now owned by the city to be used in connection with such
projects or with new or existing roads, streets, parkways or avenues
connecting with such projects, as shall be agreed upon under a contract
or contracts hereby authorized to be entered into between the authority
and the city, at the sole expense of the authority and done under
construction contracts let and supervised by the authority, pursuant to
plans and specifications prepared by the authority, the commissioner of
parks and recreation of the city or other agency.

The city shall maintain such connecting roads, streets, parkways and
avenues as provided by law. The public parks and the parkways herein
referred to as connecting with the approaches, any part of the cost of
which is paid by the authority, shall be under the jurisdiction of the
department of parks and recreation of the city and shall be maintained
by that department. Service roads appurtenant to said parkways shall be
under the jurisdiction of the city commissioner of transportation and
shall be maintained by him;

11. To design and with the consent of the city, to construct new
parks, parkways or highways or improvements to existing parks, parkways
or highways either connecting directly or indirectly with the project or
for the purpose of attracting or facilitating traffic or improving
approaches to and connections with the project. The authority shall have
no jurisdiction or control over any new parks, parkways or highways
constructed by it pursuant to the provisions of this paragraph eleven
after the completion of the construction thereof. The general powers
conferred in this subdivision eleven shall include the power heretofore
conferred on the parkway authority to construct a northerly extension of
Cross Bay parkway in the borough of Queens, as authorized in sections
two hundred seventy-eight, two hundred eighty-two-a and two hundred
eighty-two-b of this chapter, and such general powers shall not be
construed to be limited by the provisions of this act granting the power
to construct any particular improvement, but shall be construed as an
extension of the powers of the authority.

12. To charge tolls, fees or rentals for the use of the project,
subject to and in accordance with such agreement with bondholders as may
be made as hereinafter provided. The toll rates charged for the use of
either the Triborough or Whitestone bridge project shall, however, never
be less than the toll rates charged for the use of the other, and this
clause shall be deemed an obligation to the holders of any and all bonds
at any time issued secured by the revenues of said projects. Subject to
contracts with bondholders, all tolls and other revenues derived from
any project shall be applied to the payment of operating, administration
and other necessary expenses of the authority properly chargeable to
such project and thereafter to the payment of interest or principal of
bonds or for making sinking fund payments for bonds, not otherwise
adequately provided for, whether issued in connection with such project
or any other project. It is the intention hereof that surplus funds from
any project remaining after providing for the payment of all operating,
administration and other necessary expenses of the authority and all
contract provisions with respect to any bonds, may be used to meet
obligations incurred for other projects and if not so used or reserved
for such use shall, at the discretion of metropolitan transportation
authority, be transferred to metropolitan transportation authority or
New York city transit authority pursuant to section five hundred
sixty-nine-c of this title. Subject to contracts with bondholders, the
authority may treat one or more projects as a single enterprise in
respect of revenues, expenses, the issuance of bonds, maintenance,
operation or other purposes;

12-a. To establish and charge variable tolls, fees and other charges
for vehicles entering or remaining within the central business district
and to make rules and regulations for the collection of such tolls, fees
and other charges, subject to and in accordance with such agreement with
bondholders and applicable federal law as may be made as hereinafter
provided. Subject to agreements with bondholders and applicable federal
law, all tolls, fees and other revenues derived from the central
business district tolling program shall be applied to the payment of
operating, administration, and other necessary expenses of the authority
properly allocable to such program, including the capital costs of such
program, and to the payment of interest or principal of bonds, notes or
other obligations of the authority or the metropolitan transportation
authority issued for transit and commuter projects as provided in
section five hundred fifty-three-j of this title, and shall not be
subject to distribution under section five hundred sixty-nine-c of this
title or section twelve hundred nineteen-a of this chapter. The
provisions of section twenty-eight hundred four of this chapter shall
not be applicable to the tolls and fees established by the authority
pursuant to this subdivision. Any such fares, tolls, and other charges
shall be established and changed only if approved by resolution of the
authority adopted by not less than a majority vote of the whole number
of members of the authority then in office, with the chairman having one
additional vote in the event of a tie vote, and only after a public
hearing.

13. To construct and maintain over, under, along or across the project
telephone, telegraph, or electric wires and cables, gas mains, water
mains and other mechanical equipment not inconsistent with the
appropriate use of the project, to contract for such construction and to
lease the right to construct and/or use the same on such terms and for
such considerations as it shall determine, provided, however, that no
lease shall be made except with the approval of the board of estimate of
the city, or for a period of more than twenty years from the date when
it is made;

14. To construct and maintain facilities for the public, not
inconsistent with the use of the project, to contract for such
construction, and to lease the right to construct and/or use such
facilities on such terms and for such considerations as it shall
determine, provided, however, that no lease shall be made for a period
of more than five years from the date when it is made except with the
approval of the board of estimate of the city;

15. To issue negotiable bonds and to provide for the rights of the
holders thereof;

16. To enter on any lands, waters, and premises for the purpose of
making surveys, soundings and examinations;

16-a. With the consent of the city and notwithstanding any other
provision of law, whenever real property having dwellings or other
structures thereon has been acquired by the authority or the city for
the purpose of constructing any project authorized by this title, (a) to
acquire real property by purchase, gift, devise or condemnation in the
manner provided in this title, and as the agent of the city, for the
purpose of providing new sites on which such dwellings or other
structures may be relocated; (b) to sell such dwellings or other
structures or to provide for the removal, relocation and improvement of
such dwellings or other structures on new foundations at such new sites
by contract or by its own labor force or by a combination of methods;
(c) to contract for the installation of water, sewer, gas and electrical
facilities and other necessary appurtenances required for the completion
and restoration of such dwellings or other structures; (d) to landscape
such new sites; (e) to contract with any person, firm or corporation or
with the city for the improvement or installation of streets, sewers,
water lines or other facilities in connection with the relocation of
such dwellings or other structures and to pay the cost thereof; (f) to
contract with the several owners of such property for the conveyance of
the new sites with improvements thereon to such owner in settlement in
part or in whole of the compensation and damage to which they are
entitled; and (g) to sell such sites with or without dwellings or other
structures and improvements thereon.

The authority may agree with the owners of property acquired, in
settlement in part or in whole of the damages to which they are
entitled, to compensate such owners for the cost of acquiring new sites,
removing dwellings thereto on new foundations, the installation of
water, sewer, gas and electrical facilities and other necessary
appurtenances required for the complete restoration of such dwellings or
other structures and landscaping of the new site.

For the purposes of this subdivision, the term "structures" shall mean
and include buildings used as and for hospitals, schools, community and
religious institutions, cultural and recreational and other neighborhood
and community facilities, but shall exclude retail stores, factories and
commercial and industrial establishments of any kind.

17. To do all things necessary or convenient to carry out the powers
expressly given in this title and to assist and cooperate with the
metropolitan transportation authority to carry out the powers of the
metropolitan transportation authority in furtherance of the purposes and
powers of the authority as provided in this article, including, without
limitation, the transactions described in sections twelve hundred
sixty-six-c, twelve hundred sixty-nine, and twelve hundred seventy-d of
this chapter.

18. A copy of any report submitted by the authority pursuant to
sections twenty-eight hundred, twenty-eight hundred one and twenty-eight
hundred two of this chapter shall be submitted contemporaneously to the
mayor of the city.

19. To acquire in its own name certain real or personal property, or
any interest therein, including leasehold interests, air and subsurface
rights, easements and lands under water at a site located in New York
county and generally bounded by thirty-third street on the north,
thirtieth street on the south, tenth avenue on the east and eleventh
avenue on the west, such property or any interest therein to be acquired
for railroad or other corporate purposes, and in the event such real or
personal property or any interest therein is determined by the authority
to be unnecessary for railroad or other corporate purposes, to sell,
convey or lease in its own name such real or personal property or any
interest therein.

20. Prior to the adoption after January first, nineteen hundred
eighty-seven by the authority of a general resolution pursuant to which
it is authorized to issue any general or special obligation bonds or
notes to finance a project pursuant to the authorization contained in
paragraph (r) of subdivision nine of this section, not including any
series resolution or resolutions, and prior to the adoption of any
amendment to a general resolution, whenever adopted, pursuant to which
it is authorized to issue any general or special obligation bonds or
notes for such purpose, not including a series resolution or
resolutions, the authority shall submit a copy of such proposed
resolution to the metropolitan transportation authority capital program
review board (hereinafter referred to as the "board"). Within fifteen
days of such submission, the board may notify the authority of its
unanimous approval of the same by the members entitled to vote thereon,
or if the resolution is not approved and no individual member of the
board who is entitled to vote on such resolution has notified the
authority in writing of his disapproval, the resolution shall be deemed
to have been approved. Neither the board nor any member thereof shall
disapprove a proposed resolution by reason of any covenant requiring the
authority to charge and fix tolls, rentals and other charges sufficient
to pay its operating expenses and the debt service, including the
funding of requisite reserves, on the bonds and notes authorized by such
resolution. If the board or any member thereof entitled to vote thereon
shall disapprove a proposed resolution, the authority may, at any time,
resubmit a reformulated resolution. Within ten days of the submission of
such reformulated resolution the board may notify the authority of its
unanimous approval of the same by the members entitled to vote thereon,
or, if the reformulated resolution is not approved and no individual
member of the board who is entitled to vote thereon has notified the
authority in writing of his disapproval within such period, the
reformulated resolution shall have been deemed to have been approved.
Any individual member of the board who votes against a resolution or a
reformulated resolution or who notifies the authority of his disapproval
shall state his reasons therefor. The member appointed on the
recommendation of the mayor of the city of New York shall participate in
the action of the board with respect to any resolution of the authority
submitted pursuant to this subdivision. The authority shall not adopt a
resolution or any amendment to a resolution disapproved by the board as
herein provided.

21. To invest any funds, accounts or other monies not required for
immediate use or disbursement, at the discretion of the authority, in
any of the investments in which the metropolitan transportation
authority is permitted to invest its monies pursuant to subdivision four
of section twelve hundred sixty-five of this chapter.

* 22. Section twenty-eight hundred seventy-nine of this chapter shall
apply to the authority's acquisition of goods or services of any kind,
in the actual or estimated amount of fifteen thousand dollars or more,
provided that (i) a contract for services in the actual or estimated
amount of less than one hundred thousand dollars shall not require
approval by the board of the authority regardless of the length of the
period over which the services are rendered, and provided further that a
contract for services in the actual or estimated amount of one hundred
thousand dollars or more shall require approval by the board of the
authority regardless of the length of the period over which the services
are rendered unless such a contract is awarded to the lowest responsible
bidder after obtaining sealed bids and (ii) the board of the authority
may by resolution adopt guidelines that authorize the award of contracts
to small business concerns, to service disabled veteran owned businesses
certified pursuant to article seventeen-b of the executive law, or
minority or women-owned business enterprises certified pursuant to
article fifteen-a of the executive law, or purchases of goods or
technology that are recycled or remanufactured, in an amount not to
exceed four hundred thousand dollars without a formal competitive
process and without further board approval. The board of the authority
shall adopt guidelines which shall be made publicly available for the
awarding of such contract without a formal competitive process.

* NB Repealed June 30, 2028