Section 1048-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 water system, 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-eight-j of this title;
    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  agreements  pursuant  to  sections  one  thousand
  forty-eight-h  and  one  thousand  forty-eight-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
  system,  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 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-eight-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 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 water system 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 common council 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.