Section 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;
    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.
    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
  Brooklyn Battery 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 Brooklyn Battery 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.
    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;
    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.