Section 1045-G. General powers of the water board

Except as otherwise
  limited by this title, the water board shall have power:
    1. To sue and be sued;
    2. To have a seal and alter the same at pleasure;
    3. To make  and  amend  by-laws  for  its  organization  and  internal
  management,  and  rules  and  regulations  governing the exercise of its
  powers and duties and the fulfillment of its purposes under this title;
    4. To establish, fix, revise,  charge  and  collect  and  enforce  the
  payment  of all fees, rates, rents and other service charges for the use
  of, or services furnished by the sewerage system, water system, or both,
  as the case may be, so as to receive revenues which, together with other
  revenues available to the board, if any, shall be at least sufficient at
  all times  so  that  such  system  or  systems  shall  be  placed  on  a
  self-sustaining   basis   in   accordance   with  section  one  thousand
  forty-five-j of this title; provided, however that the water board shall
  not establish a limit of less than four years commencing from  the  date
  of  the  bill  for  services  to  challenge any fee, rate, rent or other
  service charges for the use of or services furnished by the water and/or
  sewerage systems; any such challenge shall specifically  set  forth  the
  basis for such claim;
    5. To enter into contracts and to execute all instruments necessary or
  convenient or desirable for the purposes of the water board to carry out
  any  powers  expressly  given  it in this title, provided nothing herein
  contained shall authorize the water board to borrow money  or  otherwise
  contract indebtedness;
    6.  To  enter  into  an  agreement  pursuant  to  section one thousand
  forty-five-i of this title with the authority and the city to provide  a
  means whereby the authority shall finance the cost of constructing water
  projects,  as  described in the agreement, and the water board may agree
  to assume title to the water or sewerage system, or both, and  to  raise
  revenues  from users through fees, rates, rents or other service charges
  necessary or appropriate to secure such financing and to pay the cost of
  the operation, management and repair of such water or sewerage system;
    7. To acquire, purchase, lease as lessee, hold and use  any  property,
  real,  personal or mixed, or any interest therein necessary or desirable
  to carry out the purposes of this title and, subject to any  limitations
  in  any  agreement  with  the  city entered into pursuant to section one
  thousand forty-five-h of this title, to sell, lease as lessor,  transfer
  or otherwise dispose of any such property or interest therein;
    8.  To  appoint  such officers and employees as it may require for the
  performance  of  its  duties,   and   to   fix   and   determine   their
  qualifications,  duties,  and compensation, subject to the provisions of
  the civil service law and the rules of the civil service  commission  of
  the  city,  and  to  retain  or  employ counsel, auditors, engineers and
  private consultants on a  contract  basis  or  otherwise  for  rendering
  professional or technical services and advice;
    9.  To  acquire  from  the  city  title  to the sewerage system, water
  system, or both the sewerage and water systems, as the case may  be,  of
  such city;
    10.  To  make  plans,  surveys  and  studies  necessary, convenient or
  desirable to the effectuation of the purposes and powers  of  the  water
  board and to prepare recommendations in regard thereto;
    11.  To  make  use of existing studies, surveys, plans, data and other
  material in the possession of the city in order to avoid duplication  of
  effort, and such city is hereby authorized to make the same available to
  the  water  board  and  otherwise to assist it in the performance of its
  functions;

    12. With the consent of the mayor of  the  city  to  use  officers  or
  employees of the city and to pay a proper portion of the compensation or
  costs for the services of such officers or employees;
    13.  To  conduct investigations and hearings in the furtherance of its
  general purposes, and in aid  thereof  to  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  water
  board  shall  fail  or  refuse  to  aid or assist the water board in the
  conduct of any investigation or hearing,  or  to  produce  any  relevant
  books,  records  or other papers, the water board 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;
    14.  To  apply  for  and  to  accept  any  gifts or grants of funds or
  property or financial  or  other  aid  in  any  form  from  the  federal
  government  or  any agency or instrumentality thereof, or from the state
  or any state agency, the city or from any other sources, for any or  all
  of  the  purposes specified in this title, and to comply, subject to the
  provisions of this title, with the terms and conditions thereof;
    15. To invest moneys not required for immediate use  or  disbursement,
  subject to such restrictions as may be imposed by any agreement with the
  authority,  in  such  obligations  or  deposits with such banks or trust
  companies as it may determine and  designate,  provided  that  any  such
  deposit  with  a  bank  or trust company shall be continuously and fully
  secured by direct obligations of the  city,  the  state  or  the  United
  States of America, or obligations the principal of and interest on which
  are guaranteed by the state or the United States of America, of a market
  value equal at all times to the amount of the deposit;
    16.  To  establish  and  maintain  such  reserves,  special  funds and
  accounts, to be held in trust or otherwise, as may be  required  by  any
  agreement with the authority and the city; and
    17.  To  do all things necessary, convenient or desirable to carry out
  its purposes and for the exercise of the powers granted in this title.