Section 1598-C. Purpose and powers of the authority

The purpose of the
  authority shall be to  construct,  operate  and  maintain  one  or  more
  projects  in  the  city.  To carry out said purpose, 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, including the  power  to  purchase  prospective  or  tentative
  awards in connection with the condemnation of real property;
    4. To acquire in the name of the city by purchase or condemnation, and
  use necessary real property. All real property acquired by the authority
  by  condemnation  shall  be  acquired  in  the  manner  provided  in the
  condemnation law or in the manner provided by law for  the  condemnation
  of land by the city;
    5.  To  make by-laws for the management and regulation of its affairs,
  and, subject to agreement with bondholders, for the  regulation  of  the
  project;
    6.  With  the  consent  of  the  city  to  use  agents, employees, and
  facilities of the city, including the corporation counsel, paying to the
  city its agreed proportion of the compensation or costs;
    7. To appoint officers,  agents  and  employees,  to  prescribe  their
  qualifications  and  to fix their compensation; subject, however, to the
  provisions of the civil service law, as hereinafter provided;
    8. To make contracts  and  leases,  and  to  execute  all  instruments
  necessary or convenient;
    9.  To  construct  such buildings, structures and facilities as may be
  necessary;
    10. To reconstruct, improve, maintain and operate the projects;
    11. To accept grants, loans or contributions from the  United  States,
  the  state  of  New  York, or any agency or instrumentality of either of
  them, or the city, or an individual, by bequest  or  otherwise,  and  to
  expend the proceeds for any purposes of the authority;
    12.  To fix and collect rentals, fees and other charges for the use of
  the projects or any of them subject  to  and  in  accordance  with  such
  agreements with bondholders as may be made as hereinafter provided;
    13.  To  construct, operate or maintain in the projects all facilities
  necessary or convenient in connection therewith; and to contract for the
  construction, operation or maintenance  of  any  parts  thereof  or  for
  services  to be performed; to rent parts thereof, and grant concessions,
  all on such terms and conditions as it may determine; provided, however,
  that neither the authority, the city, or any agency of the authority  or
  city,  or  any other person, firm or corporation shall, within or on any
  property comprising a part of any  project  authorized  by  this  title,
  sell,  dispense  or  otherwise  handle  any  product  used in or for the
  servicing of any motor vehicle using any project or facility  authorized
  by  this  title;  provided  further,  that  the location of sites of the
  projects shall be subject to the prior approval of the common council of
  the city.