Section 2535. General powers of the corporation

The corporation 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 pleasure; (3) to make and alter by-laws for its organization and
  internal management and,  subject  to  agreements  with  noteholders  or
  bondholders,  to  make  rules  and  regulations governing the use of its
  property and facilities; (4) to  make  and  execute  contracts,  leases,
  subleases   and   all  other  instruments  or  agreements  necessary  or
  convenient for the exercise of  its  powers  and  functions  under  this
  title;   (5)  to  purchase  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 sell or otherwise to dispose
  of such  real  or  personal  property  that,  in  the  judgment  of  the
  corporation,  is  no longer necessary for its corporate purposes; (6) to
  appoint officers, agents  and  employees,  prescribe  their  duties  and
  qualifications and fix their compensation; (7) to commence any action to
  protect  or  enforce any right conferred upon it by any law, contract or
  other agreement; (8) subject to other provisions of law, to transfer  to
  the  city such sums of money as are not required for other purposes; (9)
  to borrow money  and  to  issue  negotiable  notes  or  bonds  or  other
  obligations  and  to  fund  or  refund  the same, and to provide for the
  rights of the holders of its obligations; (10) subject to the provisions
  of any contract with noteholders or bondholders,  to  invest  any  funds
  held  in  reserves  or  sinking  funds,  or  any  funds not required for
  immediate use or disbursement, at the discretion of the corporation,  in
  obligations  of  the  city, state or federal government, obligations the
  principal of and interest on which are guaranteed by the city, state  or
  federal government, or obligations of agencies of the federal government
  which  may,  from time to time, be legally purchased by savings banks of
  the state as investments of funds belonging to them or in their  control
  and which have been approved by the state comptroller or in secured time
  deposits or other interest bearing accounts secured by such obligations;
  (11)  subject  to  the  provisions  of  any contract with noteholders or
  bondholders, to purchase notes or bonds  of  the  corporation;  (12)  to
  procure  insurance  against  any  loss  in  such  amounts  and from such
  insurers  as  it  deems  desirable;  (13)  to  engage  the  services  of
  consultants on a contract basis for rendering professional and technical
  assistance  and  advice; (14) to contract for and to accept any gifts or
  grants or loans of funds or property or financial or other  aid  in  any
  form  from  the  federal  government  or  any  agency or instrumentality
  thereof, or from any other source and  to  comply  with  the  terms  and
  conditions thereof; (15) as security for the payment of the principal of
  and  interest  on  any  bonds  so  issued  and  any  agreements  made in
  connection therewith, to pledge all or any part of its revenues; (16) to
  do any and all things necessary or convenient to carry out its  purposes
  and exercise the powers expressly given and granted in this title.