Section 1933. Purposes and powers of the authority

1. The purposes of the
  authority shall be:
    (a) To operate and maintain the Glens Falls civic center, civic center
  plaza and all facilities in connection therewith.
    (b) To conduct its affairs in a fiscally prudent  manner  designed  to
  maximize income and minimize expenses.
    (c) To assist the city in paying off its bond indebtedness incurred at
  the time of the construction of the Glens Falls civic center.
    (d)  To  operate  and  maintain  such other cultural or sports-related
  facilities over which it is given jurisdiction by  the  common  council;
  upon such terms and conditions as shall be mutually agreed to in advance
  by the agency and the common council of the city of Glens Falls.
    (e)  To promote and develop the Glens Falls civic center and any other
  facility over which the agency has jurisdiction with the general aim  of
  promoting  the economic welfare and prosperity of the people in the city
  and the surrounding communities.
    2. The carry out the purposes set forth  above,  the  authority  shall
  have the power:
    (a) To acquire, hold and dispose of real and personal property for its
  corporate   purposes;   subject   to  the  conditions  and  restrictions
  hereinafter provided.
    (b) To engage  in  fund  raising  activities  in  furtherance  of  its
  corporate purposes.
    (c)  To  make  rules and by-laws for the management and regulations of
  its affairs and administration of the civic center, or any other  agency
  over which it has jurisdiction.
    (d)  With  the  consent of the common council to use agents, employees
  and facilities of the  city,  including  the  city  treasurer's  office,
  paying to the city its agreed portion of the compensation or costs.
    (e)  To  appoint officers, agents and employees and to prescribe their
  qualifications and fix their compensation subject  to  the  restrictions
  and conditions as hereinafter provided.
    (f)  To  make  contracts  and  leases,  and to execute all instruments
  necessary; provided however, the authority shall not have the  power  to
  enter into contracts or leases which extend beyond its corporate life.
    (g)  To reconstruct and make improvements to any project over which it
  has jurisdiction subject  to  restrictions  and  conditions  hereinafter
  provided.
    (h)  To  collect  rentals,  fees  and other charges for the use of the
  project subject to existing agreements between the city and others.
    (i) To contract for the services of  architects,  engineers,  lawyers,
  financial  and other professional advisors and to fix their compensation
  subject to the restrictions and conditions hereinafter provided.
    (j) To operate and maintain the Glens  Falls  civic  center  and  such
  other  cultural  or  sports-related  facilities  over  which it is given
  jurisdiction by the common council  of  the  city  of  Glens  Falls;  to
  contract  for the repair, operation and maintenance of any part thereof,
  or for services to be performed in connection therewith; to  rent  parts
  thereof,  and  grant  concessions;  subject  to  the  terms  of existing
  agreements between the city and others.
    (k) To promote  the  Glens  Falls  civic  center,  the  city  and  the
  surrounding communities, together with any other facility over which the
  agency has jurisdiction.
    (l) To sue and be sued.