§ 1804. General powers and duties of the authority. Subject to the\nother provisions of this title and the provisions of any contract with\nbondholders or noteholders, the authority shall have the following\npowers in addition to the powers specifically conferred upon the\nauthority elsewhere in this title:\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. To make rules and regulations governing the exercise of its\ncorporate powers and the fulfillment of its corporate purposes under\nthis title, which rules and regulations shall be filed with the\ndepartment of state in the manner provided by section one hundred two of\nthe executive law and to maintain its system of internal controls in\nconformity with the relevant standards specified by authoritative\nnational standard setting bodies;\n 5. To make loans and loan guaranties secured by loan agreements,\nmortgages, contracts and all other instruments necessary or convenient\nfor the exercise of its corporate powers and the fulfillment of its\ncorporate purposes under this title; and to require the inclusion in any\nlease or other agreement in respect of a project (a) such provisions as\nto the use of the project as the authority may deem necessary or\ndesirable for the fulfillment of its corporate purposes and (b) such\nprovisions as to the reporting to it by the parties to such lease or\nother agreement of such information as it deems necessary to monitor (i)\ncompliance by such parties with the provisions of this title and with\nthe provisions of any rules and regulations adopted pursuant to this\ntitle and (ii) the progress of the project occupant or of the business\nenterprise described in section eighteen hundred twenty-seven of this\ntitle in achieving the representations made in the application submitted\npursuant to section eighteen hundred twenty-four of this title;\n 6. In connection with loans, loan guarantees, or any applications or\ncommitments therefor, to make and collect such fees and charges as the\nauthority shall determine to be reasonable;\n 7. To purchase, receive, lease or otherwise acquire, and hold in the\nname of the state or otherwise, or contract to acquire from any person,\nfirm, corporation, municipality, federal or state agency, by grant,\npurchase, or otherwise, and to sell, convey, mortgage, lease, pledge or\notherwise dispose of, upon such terms and conditions as the authority\nmay deem advisable, real and personal property, together with such\nrights and privileges as may be incidental and appurtenant thereto and\nto the use thereof, including but not restricted to any real or personal\nproperty acquired by the authority from time to time upon foreclosure of\nany mortgage or in the satisfaction of debts or in the enforcement of\nobligations; provided, however, that the terms and conditions of any\nsale or other disposition by the authority of property conveyed to it\npursuant to section eighteen hundred thirty-a of this title including\nthe consideration involved, shall be subject to the approval of the\ndirector of the budget, prior to such sale or other disposition;\n 8. To sell at public or private sale, or pledge or assign, any loan\nmade by the authority and any mortgage or other obligation securing a\nloan made by the authority;\n 9. To foreclose on any real or personal property in respect of which\nit has made a loan or issued a loan guarantee or commence or join in any\naction or proceeding to protect or enforce any right conferred upon it\nby law or by contract and to bid for and purchase such property at any\nforeclosure or at any other sale or acquire or take possession of any\nsuch property; and in such event the authority may operate, maintain,\nadminister, pay the principal of and interest on any obligation incurred\nin connection with such property, and otherwise deal with, such\nproperty, in such manner as may
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