Section 1306. General powers of the authority

A. 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  negotiable  notes,  bonds  or  other
  obligations and to provide for the rights of the holders thereof;
    4. To invest any funds held in reserve or sinking funds, or any monies
  not required for immediate use or disbursement, at the discretion of the
  authority,  in  obligations of the state or the United States government
  or obligations the principal and interest of which are guaranteed by the
  state or the United States government; or  certificates  of  deposit  of
  banks  or  trust companies or in bank or trust accounts of banks in this
  state secured by obligations of the United States or of the state of New
  York of a market value equal at all times to the amount of  the  deposit
  with the approval of the Comptroller;
    5.  To  make  and  alter  by-laws  for  its  organization and internal
  management, and rules and regulations  governing  the  exercise  of  its
  powers and the fulfillment of its purposes under this title;
    6.  To  enter into contracts and leases and to execute all instruments
  necessary or convenient;
    7. To acquire, hold and dispose of real or personal  property  in  the
  exercise of its powers;
    8.  To  appoint  a general manager, who shall serve at the pleasure of
  the authority, and such officers and  employees  as  the  authority  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, engineers and private consultants on a contract basis
  or   otherwise  for  rendering  professional,  management  or  technical
  services and advice; such general manager, counsel, auditors, engineers,
  and private consultants, officers and employees may not be a  member  of
  the authority;
    9.  (a) Notwithstanding section one hundred thirteen of the retirement
  and social security law  or  any  other  general  or  special  law,  the
  authority and any of its subsidiary corporations may continue or provide
  to its affected officers and employees any retirement, disability, death
  or  other  benefits provided or required for railroad personnel pursuant
  to federal or state law. Notwithstanding any  provisions  of  the  civil
  service  law, no officer or employee of a subsidiary corporation, of the
  authority, other than a public benefit subsidiary corporation, shall  be
  a public officer or a public employee;
    (b)   The   authority   and  any  of  its  public  benefit  subsidiary
  corporations may be a "participating employer" in  the  New  York  state
  employees'  retirement  system  with  respect  to one or more classes of
  officers and employees of such authority  or  any  such  public  benefit
  subsidiary  corporation,  as  may  be  provided  by  resolution  of such
  authority or any such public benefit subsidiary corporation, as the case
  may be, or any subsequent amendment thereof, filed with the  comptroller
  and accepted by him pursuant to section thirty-one of the retirement and
  social  security  law.  In  taking any action pursuant to this paragraph
  (b), the authority and any of its public benefit subsidiary corporations
  shall consider the coverages and benefits continued or provided pursuant
  to paragraph (a) of this subdivision.
    10. To make 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  and  shall
  undertake feasibility studies, at such time as the authority deems best,
  of  merging  into  the  authority  the  Port  of Albany authority and of
  acquiring the Albany county airport, the Schenectady county airport, the

  United Traction Company, the Schenectady Transportation  Corporation  or
  any successor entities.
    11. 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  actual
  damage done;
    12.  The  authority  may  conduct  investigations  and hearings in the
  furtherance of its general purposes, and in aid thereof have  access  to
  any  books,  records or papers relevant thereto; and if any person whose
  testimony shall be required for the proper performance of the duties  of
  the authority shall fail or refuse to aid or assist the authority in the
  conduct  of  any  investigation  or  hearing, or to produce any relevant
  books, records or other papers, the authority is authorized to apply for
  process of subpoena, to issue out  of  any  court  of  general  original
  jurisdiction whose process can reach such person, upon due cause shown;
    13.  To  do all things necessary, convenient or desirable to carry out
  its purposes and for the exercise of the powers granted in this title.
    14.  To  enter  into  collective  bargaining  agreements  with   labor
  representatives duly elected by the employees of the authority.
    15. 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.
    B. The authority shall file in the office of the commissioner and with
  the legislative bodies of each county in the  district  annual  reports,
  after  the close of each of the authority's fiscal years, which shall be
  open to public inspection. Such reports shall include,  in  addition  to
  any  information  which  the  commissioner may require, a statement with
  respect to its operations including the following data:
    (a) Cost breakdown of  real  property  acquired  for  each  system  or
  facility acquired or operated by the authority;
    (b)  Cost  breakdown  in  appropriate  units of facilities acquired or
  operated by the authority;
    (c) Operating  revenues  for  each  system  or  facility  acquired  or
  operated by the authority;
    (d)  Operating  expenses  for  each  system  or  facility  acquired or
  operated by the authority.
    C. The authority shall prepare and file with the commissioner and  the
  legislative  bodies  of  each  county  in  the district an annual budget
  consisting of projected operating revenues and expenditures for the next
  fiscal year.