§ 1306. General powers of the authority. A. Except as otherwise\nlimited by this title, the authority 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 borrow money and issue negotiable notes, bonds or other\nobligations and to provide for the rights of the holders thereof;\n 4. 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\nauthority, in obligations of the state or the United States government\nor obligations the principal and interest of which are guaranteed by the\nstate or the United States government; or certificates of deposit of\nbanks or trust companies or in bank or trust accounts of banks in this\nstate secured by obligations of the United States or of the state of New\nYork of a market value equal at all times to the amount of the deposit\nwith the approval of the Comptroller;\n 5. To make and alter by-laws for its organization and internal\nmanagement, and rules and regulations governing the exercise of its\npowers and the fulfillment of its purposes under this title;\n 6. To enter into contracts and leases and to execute all instruments\nnecessary or convenient;\n 7. To acquire, hold and dispose of real or personal property in the\nexercise of its powers;\n 8. To appoint a general manager, who shall serve at the pleasure of\nthe authority, and such officers and employees as the authority may\nrequire for the performance of its duties, and to fix and determine\ntheir qualifications, duties, and compensation and to retain or employ\ncounsel, auditors, engineers and private consultants on a contract basis\nor otherwise for rendering professional, management or technical\nservices and advice; such general manager, counsel, auditors, engineers,\nand private consultants, officers and employees may not be a member of\nthe authority;\n 9. (a) Notwithstanding section one hundred thirteen of the retirement\nand social security law or any other general or special law, the\nauthority and any of its subsidiary corporations may continue or provide\nto its affected officers and employees any retirement, disability, death\nor other benefits provided or required for railroad personnel pursuant\nto federal or state law. Notwithstanding any provisions of the civil\nservice law, no officer or employee of a subsidiary corporation, of the\nauthority, other than a public benefit subsidiary corporation, shall be\na public officer or a public employee;\n (b) The authority and any of its public benefit subsidiary\ncorporations may be a "participating employer" in the New York state\nemployees' retirement system with respect to one or more classes of\nofficers and employees of such authority or any such public benefit\nsubsidiary corporation, as may be provided by resolution of such\nauthority or any such public benefit subsidiary corporation, as the case\nmay be, or any subsequent amendment thereof, filed with the comptroller\nand accepted by him pursuant to section thirty-one of the retirement and\nsocial security law. In taking any action pursuant to this paragraph\n(b), the authority and any of its public benefit subsidiary corporations\nshall consider the coverages and benefits continued or provided pursuant\nto paragraph (a) of this subdivision.\n 10. To make plans, surveys, and studies necessary, convenient or\ndesirable to the effectuation of the purposes and powers of the\nauthority and to prepare recommendations in regard thereto and shall\nundertake feasibility studies, at such time as the authority deems best,\nof merging into the authority the Port of Albany authority and of\nacquiring the Albany county airport, the Schenectady county airport, the\nUnited Traction Company, the Schenectady Transportation Corporation or\nany successor entities.\n 11. To enter upon such lands, waters or premises as in the judgment of\nthe authority may be necessary, convenient or desirable
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