Section 219-C. Additional powers of certain authorities

An authority
  operating in a city having more than one million inhabitants shall  have
  the  following  powers  in  addition to the other powers granted by this
  chapter:
    1.  Prepare  or  arrange  for  preparation  of  plans  for,   acquire,
  construct,  lease,  carry  out, manage, operate and dispose of emergency
  projects, and with regard to emergency projects shall have and exercise,
  except as in this article otherwise expressly provided, all the  powers,
  rights  and  privileges  granted  to  an authority under this chapter in
  reference to any project of an authority,  but  without  regard  to  the
  limitations  prescribed by sections ninety-seven, one hundred fifty, one
  hundred fifty-one, one hundred fifty-five, and one hundred fifty-six  of
  this chapter.
    2.  Act  as agent for, or enter into contracts and otherwise cooperate
  with a government in connection with emergency projects.
    3. Issue  bonds  and  notes  for  the  purposes  of  this  article  in
  accordance  with the powers granted under article three of this chapter,
  except that such bonds may be  issued  for  periods  not  exceeding  the
  probable  life of the emergency project for which they are issued, which
  probable life is hereby determined to be ten years. The  powers  granted
  by  this  section shall include the power of such authority to issue its
  bonds or notes to finance  all  or  any  part  of  the  development  and
  operation  of emergency projects which a city has undertaken by contract
  with a government, and as to which the authority will act  as  agent  or
  lessee  for  the city, notwithstanding that the city agrees to reimburse
  the authority for all or any part of the development  and  operation  of
  the emergency project.
    4.  Issue  refunding bonds for the purpose of paying or retiring bonds
  previously issued by it for emergency projects  but  no  such  refunding
  bonds shall have a maturity date later than the end of the probable life
  of the emergency project for which they are issued.