Section 9.11. General powers and duties of the corporation

For carrying out
  its purposes, the corporation 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 purchase, alter, install and dispose of
  fixtures,  installations  and  equipment. The corporation may dispose of
  its own property valued in excess of  five  thousand  dollars,  provided
  however,  that  any such action is subject to a resolution which must be
  approved by a majority of the board of directors at a meeting  and  such
  resolution must be approved by the director of the budget;
    4.  To lease other real property from the state and other entities for
  such terms and such conditions as may be agreed upon and, subject to the
  provisions of such lease or leases, to sublease said property to others;
    5. To appoint such employees as it may require for the performance  of
  its  duties,  and to fix and determine their qualifications, duties, and
  compensation and to retain or  employ  counsel,  auditors,  and  private
  consultants  on a contract basis or otherwise for rendering professional
  or technical services and advice;
    6. To make all contracts necessary and convenient  to  carry  out  its
  purposes  of  production,  education  and  operations and to execute all
  instruments necessary and convenient;
    7. To accept gifts, grants, loans or  contributions  from  the  United
  States,  the  state  of  New  York,  or any agency or instrumentality of
  either of them, or the city, the county, or an  individual,  foundation,
  firm or corporation, by bequest or otherwise, and to expend the proceeds
  for any purposes of the corporation;
    8.  To  be  required  to  pay  no taxes or assessments upon any of the
  property acquired by or under its jurisdiction, control  or  supervision
  or upon its activities; and
    9.  To  do  all  things  necessary  or  convenient  to  carry  out the
  functions, powers and duties expressly set forth in this article.