Section 2306. Purpose and powers of the authority

The purposes of the
  authority shall be to promote, develop,  encourage  and  assist  in  the
  acquiring,   constructing,   reconstructing,   improving,   maintaining,
  equipping   and   furnishing   industrial,   manufacturing,   warehouse,
  commercial  and  research facilities and facilities for use by a federal
  agency or a medical  facility  including  industrial  pollution  control
  facilities,  which  may  include transportation facilities including but
  not limited to those relating to water, highway, rail and air, in one or
  more areas of the city,  and  thereby  advance  the  job  opportunities,
  health,  general  prosperity  and economic welfare of the people of said
  city and to improve their medical care and standard of living; provided,
  however, that the authority shall  not  undertake  any  project  if  the
  completion  thereof  would  result  in  the  removal of an industrial or
  manufacturing plant of the project occupant from one area of  the  state
  to  another area of the state or in abandonment of one or more plants or
  facilities of the project applicant located within the state,  provided,
  however,  that  neither  restriction  shall apply if the authority shall
  determine on the basis of the application before it that the project  is
  reasonably  necessary  to  discourage the project occupant from removing
  such other plant or facility to a  location  outside  the  state  or  is
  reasonably necessary to preserve the competitive position of the project
  occupant  in  its  respective  industry.  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
  purpose;
    4. To acquire  by  purchase,  grant,  lease,  gift,  condemnation,  or
  otherwise  and  to  use,  real  property  or rights or easements therein
  necessary for its corporate purposes, and  to  sell,  convey,  mortgage,
  lease,  pledge,  exchange  or  otherwise dispose of any such property in
  such manner as the authority  shall  determine.  With  respect  to  real
  property  conveyed to it by the city, however, such power of disposition
  shall be limited as hereinafter provided in section twenty-three hundred
  ten of this title;
    5. To make by-laws for the management and regulation  of  its  affairs
  and,  subject  to agreements with its bondholders, for the regulation of
  the use of the project.
    6. With the  consent  of  the  city,  to  use  agents,  employees  and
  facilities  of  the  city,  paying 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 and to pay the same out of
  funds of the authority, subject, however, to the provisions of the civil
  service law hereinafter provided in section twenty-three  hundred  eight
  of this title;
    8.  To  retain  and  employ financial advisors, engineers, architects,
  attorneys  and  other  consultants  for   professional   and   technical
  assistance  and  advice;  that  an attorney acting as bond counsel for a
  project must file with the authority a written statement  in  which  the
  attorney  identifies  each  party to the transaction which such attorney
  represents. If bond counsel provides any legal services to  the  parties
  other than the authority, the written statement must describe the nature
  of  legal  services  provided by such bond counsel to all parties to the
  transaction, including the  nature  of  the  services  provided  to  the
  authority;
    9. To make contracts and leases upon such terms as the authority shall
  deem  appropriate,  including  without limitation leases which grant the

  tenant of a project an option to renew or  an  option  to  purchase  the
  project,  or  both,  at a fixed or otherwise predetermined price, and to
  execute all instruments necessary or convenient;
    10.  To  acquire,  construct,  reconstruct,  lease, improve, maintain,
  equip or furnish one or more projects;
    11. To accept gifts, grants, loans or contributions  from,  and  enter
  into  contracts  or  other  transactions with, the United States and the
  state or any agency of either of them, any municipality, any  public  or
  private  corporation  or  any  other  legal  entity, and to use any such
  gifts, grants, loans or contributions for any of its corporate purposes;
    12. To borrow money and to issue bonds and to provide for  the  rights
  of the holders thereof;
    13. To designate the depositories of its money in the city of Auburn.
    14. To enter into agreements requiring payments in lieu of taxes. Such
  agreements  shall  be  in  writing  and in addition to other terms shall
  contain: the amount due annually to each affected tax jurisdiction (or a
  formula by which the amount due can be calculated), the name and address
  of the person, office or agency to which payment shall be delivered, the
  date on which the payment shall be made, and the date on  which  payment
  shall  be  considered delinquent if not paid. Unless otherwise agreed by
  the affected tax jurisdictions, any such agreement  shall  provide  that
  payments  in  lieu  of  taxes  shall  be  allocated  among  affected tax
  jurisdictions in proportion to the amount of real property tax and other
  taxes which would have been received by each affected  tax  jurisdiction
  had  the  project  not  been  tax exempt due to the status of the agency
  involved in the project. A copy of any such agreement shall be delivered
  to each tax affected jurisdiction within fifteen  days  of  signing  the
  agreement.  In  the  absence  of any such written agreement, payments in
  lieu of taxes shall be allocated in the same  proportions  as  they  had
  been  prior  to January first, nineteen hundred ninety-three for so long
  as the authority's activities render a project non-taxable  by  affected
  tax jurisdictions.
    15. To establish and reestablish its fiscal year; and
    16. To do all things necessary or convenient to carry out its purposes
  and exercise the powers expressly given in this title.