§ 5. Powers of the agency. Except as otherwise limited by this act,\nthe agency shall have power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To make and execute contracts and all other instruments necessary\nor convenient for the exercise of its powers and functions under this\nact;\n 4. To make and alter by-laws for its organization and internal\nmanagement;\n 5. To acquire, hold and dispose of personal property for its corporate\npurposes;\n 6. To appoint officers, agents and employees, prescribe their duties\nand qualifications and fix their compensation;\n 7. To borrow money and issue negotiable notes, bonds or other\nobligations and to provide for the rights of the holders thereof;\n 8. To invest any funds held in reserve or sinking funds, or any monies\nnot required for immediate use or disbursement, at the discretion of the\nagency, in obligations of the state or the United States government or\nobligations the principal and interest of which are guaranteed by the\nstate or the United States government, or in any other obligations in\nwhich the comptroller of the state of New York is authorized to invest\npursuant to section ninety-eight of the state finance law;\n 9. Subject to the approval of the commissioner of health pursuant to\nthe provisions of article twenty-eight-A of the public health law, to\nmake mortgage and project loans to nursing home companies and to\nundertake commitments to make any such mortgage and project loans;\n * 10. Subject to the approval of the commissioner of health pursuant\nto the provisions of article twenty-eight-B of the public health law, to\nmake mortgage and project loans to non-profit hospital corporations and\nnon-profit medical corporations constituting eligible borrowers and\neligible secured hospital borrowers and to undertake commitments to make\nany such mortgage and project loans;\n * NB Expired December 31, 2015\n 10. Subject to the approval of the commissioner of health pursuant to\nthe provisions of article 28-B of the public health law, to make\nmortgage loans and project loans to non-profit hospital corporations and\nnon-profit medical corporations constituting eligible borrowers and to\nundertake commitments to make any such mortgage loans and project loans;\n 10-a. To make federally-aided mortgage loans pursuant to section\nfive-a of this act and, in connection with such federally-aided mortgage\nloans, to exercise the powers and undertake the responsibilities as\nrequired by any law, regulation or other requirement of the federal\ngovernment.\n 10-b. To make equipment loans pursuant to section five-b of this act\nand, in connection with such equipment loans, to enter into agreements\nwith respect to the repayment of such loans.\n 10-c. Subject to any agreement with bondholders and noteholders as may\nthen exist, to permit eligible borrowers and nursing home companies to\nincur, assume or guarantee indebtedness from a lender other than the\nagency or from the agency under a separate bond resolution, as provided\nfor in agreements with bondholders and noteholders and section five-c of\nthis act.\n 11. Subject to the approval of the commissioner of health, to sell, at\npublic or private sale, any mortgage or other obligation securing a\nmortgage loan made by the agency;\n 12. In connection with the making of mortgage or project loans and\ncommitments therefor to non-profit hospital corporations and non-profit\nmedical corporations constituting eligible borrowers or nursing home\ncompanies, to make and collect from such corporations and companies such\nfees and charges, including but not limited to reimbursement of all\ncosts of financing by the agency, service charges and insurance\npremiums, as the agency shall determine to be reasonable;\n 12-a. In connection with the financing or refinancing of a mental\nhealth services facility pursuant to lease, sublease, loan or other\nfinancing agreements for the purpose of
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