* § 1124. Powers of the authority. The authority shall have the power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To borrow money and issue bonds or other obligations and to provide\nfor the rights of the holders thereof;\n 4. To enter into contracts and to execute all instruments necessary or\nconvenient or desirable for the purposes of the authority to carry out\nany powers expressly given it in this title;\n 5. To acquire by purchase, gift, grant, transfer, contract or lease or\nby condemnation pursuant to the eminent domain procedure law, lease as\nlessee, hold, and use any real or personal property or any interest\ntherein, as the authority may deem necessary, convenient or desirable to\ncarry out the purpose of this title. In connection with the acquisition\nof such properties, the authority may assume any obligations of the\nowner of such properties and, to the extent required by the terms of any\nindentures or other instruments under which such obligations were\nissued, the authority may assume and agree to perform covenants and\nobserve the restrictions contained in such instruments; and furthermore\nthe owner or any properties which the authority is authorized to\nacquire, is hereby authorized to sell or otherwise transfer the same to\nthe authority, whereupon the authority shall become charged with the\nperformance of all public duties with respect to such properties with\nwhich such owner was charged and such owner shall become discharged from\nthe performance thereof, and as a means of so acquiring for such\npurpose, the authority may purchase all of the stock of any existing\nprivately owned water or sewage corporation or company and in the case\nof a sale or other transfer of properties of a public utility\ncorporation pursuant to this provision, upon the purchase of the stock\nof such corporation or company it shall be lawful to dissolve such\ncorporation within a reasonable time, and in the case of an acquisition\nof properties from a municipality pursuant to this provision, it may\nassume the primary responsibility for the payment of any bonds or notes\nissued by such municipality for such properties;\n 6. To develop, construct or maintain a project; provided, however,\nthat the authority shall not enter into any contract for the\nconstruction of a project without having first submitted such project,\nfollowing completion of compliance with the requirements of the state\nenvironmental quality review act and the regulations promulgated in\nconnection therewith in connection with such project, to the county\nlegislature for county legislative review, as herein described. For\npurposes of such county legislative review, construction shall not\ninclude such engineering, architectural, legal, fiscal and economic\ninvestigations and studies, surveys, designs, plans, procedures and\nother actions necessary or reasonably required to develop a project or\nto present a project to the county legislature for county legislative\nreview. County legislative review shall encompass a process by which the\ncounty legislature shall have the opportunity to review and deny a\nproject proposed to be constructed by the authority. County legislative\nreview shall commence with the authority's delivering, by mail or\npersonally, to the clerk of the county legislature a notification that\nthe authority proposes to construct a project. Such notification shall\ninclude a description of the project, the proposed cost and the proposed\nplan for the financing of such cost and such engineering, architectural,\nfiscal and economic investigations and studies, surveys, designs and\nplans prepared by the authority in connection with the project.\nFollowing receipt of such notification, the county legislature shall\ntake such action as it may determine in its discretion to be appropriate\nin connection with its review of the project, which action may include\nadoption of a resolution, by the affirmati
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