§ 373. General powers and duties of fund. The fund shall have the\nfollowing powers in addition to those specifically conferred elsewhere\nin this article:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To make and alter by-laws for its organization and internal\nmanagement;\n 4. With the approval of the comptroller, to prescribe a system of\naccounts;\n 5. To make rules and regulations governing the exercise of its\ncorporate powers and the fulfillment of its corporate purposes under\nthis article, which rules and regulations shall be filed with the\nsecretary of state in the manner provided by section one hundred two of\nthe executive law;\n 6. To accept jurisdiction over and to hold, use and improve, in\naccordance with such terms and conditions as the fund and the state\nuniversity shall determine, any or all real property acquired by the\nstate university trustees in the name of the state for state university\npurposes, together with such rights and privileges as may be incidental\nand appurtenant thereto;\n 7. To purchase, receive, lease or otherwise acquire in accordance with\nthe requirements of article eleven of the state finance law personal\nproperty necessary and convenient for its corporate purposes, provided\nthat such personal property shall not be construed to include\nfurnishings and equipment for completed facilities;\n 8. To design, construct, acquire, reconstruct, rehabilitate and\nimprove academic buildings, dormitories and other facilities for the\nstate university in accordance with sections three hundred seventy-five\nand three hundred seventy-six of this chapter;\n 9. In connection with such design, construction, acquisition,\nreconstruction, rehabilitation and improvement, (i) to install or cause\nto be installed water, sewer, gas, electrical, telephone, heating, air\nconditioning and other utility services, including appropriate\nconnections, (ii) to construct or cause to be constructed walkways,\nroadways and other improvements on adjacent real property made available\nby the state university, and (iii) to landscape adjacent real property\nor cause the same to be landscaped;\n 10. To maintain, repair and keep up the real property held by it and\nthe facilities constructed, acquired, reconstructed, rehabilitated or\nimproved pursuant to this article until responsibility therefor is\ntransferred to the state university in accordance with section three\nhundred seventy-nine of this chapter;\n 11. Subject to the terms of any lease or agreement with third parties,\nwith respect to approved university-related economic development\nfacilities or approved university related economic development projects\nto develop, manage, operate, and/or lease, solely or in cooperation with\none or more entities or individuals, or to surrender to the appropriate\nstate official, for other public use or for sale, lease or other\ndisposition in accordance with law, real property made available to the\nfund for its corporate purposes by the state university whenever the\nstate university trustees determine that such real property is\nunnecessary for present or foreseeable future needs of the state\nuniversity;\n 12. To make and execute contracts, lease agreements, and all other\ninstruments necessary or convenient for the exercise of its corporate\npowers and the fulfillment of its corporate purposes under this article\nto an amount not exceeding seventy-five thousand dollars without prior\napproval by any other state officer or agency; notwithstanding the\nforegoing, all contracts, lease agreements, and all other instruments\nexceeding seventy-five thousand dollars in amount shall be subject to\nsection one hundred twelve of the state finance law;\n 13. To procure insurance against any loss in connection with any\nfacility leased to the fund under section three hundred seventy-eight of\nthis chapter, in such amounts, and from such insurers, as it deems\ndesirable;\n 14. To ac
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.