§ 1974. Powers of the authority. 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 acquire, lease, hold, mortgage and dispose of real property and\npersonal property or any interest therein for its corporate purposes;\n 4. To acquire, construct, improve, enlarge, operate and maintain a\nproject within the project area as defined herein and all other\nstructures, appurtenances and facilities necessary or convenient in\nconnection therewith, provided, however, that all contracts for\nconstruction let by the authority shall be let in conformity with the\nprovisions of section one hundred thirty-five of the state finance law,\nexcept that contracts for construction let by subsidiaries of the\nauthority shall be governed instead by the applicable provisions of the\nprivate housing finance law;\n 5. To appoint officers, agents and employees, prescribe their\nqualifications and duties and fix their compensation;\n 6. To make by-laws for the management and regulation of its affairs,\nand, subject to agreements with bondholders, for the regulation of the\nprojects;\n 7. With the consent of the city to use agents, employees and\nfacilities of the city, paying to the city its agreed proportion of the\ncompensation or cost;\n 8. To make contracts and to execute all necessary or convenient\ninstruments, including leases and subleases, evidences of indebtedness,\nnegotiable or non-negotiable;\n 9. To engage the services of consultants on a contract basis for\nrendering professional and technical assistance and advice;\n 10. To accept grants, loans or contributions from the United States,\nor the state or the city, or any agency or instrumentality of any of\nthem, or from any other source and to expend the proceeds for any\ncorporate purpose;\n 11. To fix, establish and collect rates, rentals, fees and other\ncharges for the use of the project, subject to and in accordance with\nsuch agreements with bondholders and noteholders as may be made as\nhereinafter provided;\n 12. To create subsidiaries pursuant to section nineteen hundred\nseventy-four-a of this title;\n 13. To lend or donate monies, whether secured or unsecured, to any\nsubsidiary, and to purchase, sell or pledge the shares, bonds or other\nobligations or securities thereof, on such terms and conditions as the\nauthority may deem advisable;\n 14. To make loans secured by a first mortgage, and to make temporary\nloans or advances, to any housing company organized to provide housing\nwithin the Battery Park city project area pursuant to and subject to the\nprovisions of article two, article four or article eleven of the private\nhousing finance law, including any subsidiary of the authority, and to\nundertake commitments therefor. Any such commitments or loans may\ncontain such terms and conditions not inconsistent with the provisions\nof this title as the authority may deem necessary or desirable to secure\nrepayment of its loan, the interest, if any, thereon and other charges\nin connection therewith;\n 15. Subject to the provisions of any contract with noteholders or\nbondholders, to sell, at public or private sale, any mortgage or other\nsecurity for a mortgage loan made by the authority;\n 16. In connection with the making of mortgage loans and commitments\ntherefor, to make, fix or establish and collect such fees and charges,\nincluding but not limited to reimbursement of all costs of financing by\nthe authority, service charges and insurance premiums, as the authority\nshall determine to be reasonable subject to the provisions of any\ncontract with noteholders or bondholders;\n 17. To procure or agree to the procurement of insurance or guarantees\nfrom the federal government of the payment of any bonds or notes,\nmortgages or any other evidences of indebtedness issued by the authority\nor its subsidiaries, including the power to pay premiums on any such\ninsurance;\n 18. Subject to the provis
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