§ 3. Corporate powers. The citizens of the state of New York, from
time to time inhabitants of the territory comprised within the
boundaries of the city, shall continue to be a municipal corporation in
perpetuity under its corporate name, and the same shall in that name be
a body politic and corporate in fact and in law, with power of perpetual
succession. The city shall have power:

1. To take, purchase, hold, lease, sell and convey such real and
personal property as the purposes of the corporation may require.

2. To take by gift, grant, bequest and devise and hold real and
personal estate absolutely or in trust for any public use including that
of education, art, ornament, health, charity or amusement, for parks or
gardens, or for the use or erection of statues, monuments, buildings or
structures, upon such terms or conditions as may be prescribed by the
grantor or donor and accepted by said corporation and to provide for the
proper administration of the same.

3. To make, have and use, and from time to time alter, a common seal.

4. To contract and be contracted with, to sue and be sued, to complain
and defend and to institute, prosecute, maintain and defend any action
or proceeding in any court.

5. To have and exercise all of the rights, privileges and jurisdiction
essential to a proper exercise of its corporate functions, including all
that may be necessarily incident to, or may be fairly implied from, the
powers specifically conferred upon such corporation.

6. To have and exercise all the rights, privileges, functions and
powers now prescribed and exercised by it under existing or subsequent
laws and not inconsistent with the provisions of this chapter.