Section 1225-F. General powers of the fund

The  fund  shall have the
  following powers in addition to those specially conferred  elsewhere  in
  this  title:  (1)  to  sue and be sued; (2) to have a seal and alter the
  same at its pleasure; (3) to make and alter by-laws for its organization
  and internal management; (4) to prescribe a system of accounts  for  the
  fund;  (5)  to  purchase,  receive,  lease,  accept jurisdiction over or
  otherwise acquire real or personal property necessary and convenient for
  its corporate purposes; to execute and deliver deeds for  real  property
  held in its own name; and to transfer, lease, sublease or otherwise make
  such real or personal property available to the transportation authority
  or  the  transit authority or their subsidiaries or to sell or otherwise
  to dispose of such real or personal property that, in  the  judgment  of
  the fund, is no longer necessary for its corporate purposes; (6) subject
  to  other  provisions of law, to transfer upon such terms and conditions
  as is deemed appropriate such sums of money  as  are  not  required  for
  other purposes; (7) to make and execute contracts, leases, subleases and
  all  other  instruments  or  agreements  necessary or convenient for the
  exercise of its corporate powers and purposes; (8) with the  consent  of
  the  transportation  authority  or  the transit authority to use with or
  without compensation the  agents,  employees  and  facilities  of  those
  authorities  or  their  subsidiaries;  (9)  to  engage  the  services of
  construction,   engineering,   architectural,   legal   and    financial
  consultants,  surveyors  and  appraisers,  on  a  contract  basis  or as
  employees, for professional service and technical assistance and advice;
  (10) to cause, by agreement with the transportation  authority,  transit
  facilities  to  be  planned,  designed, constructed, acquired, extended,
  reconstructed, rehabilitated, modernized,  and  otherwise  improved,  in
  accordance  with  the  provisions  of  this  title; (11) to procure such
  insurance as  is  deemed  necessary;  (12)  to  accept,  administer  and
  disburse  federal  and  state  aid  and  (13)  to  do any and all things
  necessary or convenient to carry out its corporate powers and purposes.