Section 2504. General powers of the authority

In the exercise of the
  powers  conferred  and  the  performance  of  duties  imposed  upon  the
  authority  and subject to limitations contained elsewhere in this title,
  the authority shall have the following general powers:
    1. To sue and be sued;
    2. To have a seal and alter the same at pleasure;
    3. To make and alter by-laws for the management and regulations of its
  affairs and subject to agreements with bondholders for the regulation of
  any sports facility;
    4. To make and execute contracts and all other instruments,  including
  leases,  subleases and evidences of indebtedness necessary or convenient
  to accomplish its corporate purposes;
    5. To prescribe a system of accounts for the authority;
    6. To purchase, receive, take  by  gift,  grant,  devise,  bequest  or
  otherwise,  lease,  accept  jurisdiction over or otherwise acquire, own,
  hold, manage, operate, improve, employ, use and otherwise  deal  in  and
  with,  real  or  personal  property,  necessary  or  convenient  for its
  corporate purposes;
    7. To sell or otherwise dispose  of  personal  property  held  in  its
  corporate name;
    8.  Subject to the approval of the mayor, to execute and deliver deeds
  for real property held in its corporate name  and  to  transfer,  lease,
  sublease  or  otherwise  dispose of or make available real property upon
  such terms as shall be agreed upon;
    9. To accept grants, loans, contributions, subsidies or other forms of
  financial assistance from the United States, the state or the  city,  or
  any agency or instrumentality thereof, and from any other source, and to
  use same or expend the proceeds thereof for its corporate purposes;
    10.  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;
    11. 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;
    12.   To   engage   the   services   of   construction,   engineering,
  architectural,  legal,  financial  or  other  consultants  surveyors and
  appraisors, necessary or convenient for its  corporate  purposes,  on  a
  contract  basis  or as employees, for professional service and technical
  assistance and advice;
    13. To construct, reconstruct, improve, maintain, or operate or  cause
  to  be constructed, reconstructed, improved, maintained or operated such
  buildings, structures, parking and other facilities as may be  necessary
  or convenient;
    14.  To  fix  and  collect  rents,  rates,  fees and other charges for
  service rendered by the authority or for the use of its property;
    15. To procure such insurance as the authority deems necessary;
    16. With the consent of the mayor to  form  or  cause  to  be  formed,
  subsidiary  corporations  pursuant  to  any  general  law  of  the state
  necessary or convenient for its corporate purposes;
    17.  To  undertake  planning,  design  and  feasibility   studies   in
  accordance with the terms and conditions of any agreement with the city;
  or,  subject  to  the approval of the mayor in accordance with the terms
  and conditions of any agreement to which the city is not a party;
    18. To enter into agreements with the  city  and  the  state  and  the
  United  States,  or  any  agency or instrumentality thereof, individual,
  firm or corporation for any lawful purpose necessary or  convenient  for
  its corporate purposes; and

    19.  To  do  all  things  necessary  or  convenient  for its corporate
  purposes.
    * NB (Discontinued-Board of Directors never appointed)