9.11 - General powers and duties of the corporation.
§ 9.11. General powers and duties of the corporation. For carrying out its purposes, the corporation shall have power: 1. To sue and be sued; 2. To have a seal and alter the same at pleasure; 3. To acquire, hold and dispose of personal property for its corporate purposes, including the power to purchase, alter, install and dispose of fixtures, installations and equipment. The corporation may dispose of its own property valued in excess of five thousand dollars, provided however, that any such action is subject to a resolution which must be approved by a majority of the board of directors at a meeting and such resolution must be approved by the director of the budget; 4. To lease other real property from the state and other entities for such terms and such conditions as may be agreed upon and, subject to the provisions of such lease or leases, to sublease said property to others; 5. To appoint such employees as it may require for the performance of its duties, and to fix and determine their qualifications, duties, and compensation and to retain or employ counsel, auditors, and private consultants on a contract basis or otherwise for rendering professional or technical services and advice; 6. To make all contracts necessary and convenient to carry out its purposes of production, education and operations and to execute all instruments necessary and convenient; 7. To accept gifts, grants, loans or contributions from the United States, the state of New York, or any agency or instrumentality of either of them, or the city, the county, or an individual, foundation, firm or corporation, by bequest or otherwise, and to expend the proceeds for any purposes of the corporation; 8. To be required to pay no taxes or assessments upon any of the property acquired by or under its jurisdiction, control or supervision or upon its activities; and 9. To do all things necessary or convenient to carry out the functions, powers and duties expressly set forth in this article.