NJ Rev Stat § 32:36-8 (2021)
2021 New Jersey Revised Statutes|Title 32 - Interstate and Port Authorities and Commissions|Section 32:36-8 - Powers of the commission.

32:36-8 Powers of the commission.  8. Powers of the Commission. The Commission shall have the power to undertake the following:  a. Facilitate the project, including, but not limited to, through contracts and agreements and other documents and instruments which the Commission is otherwise authorized to make, enter into, execute, and deliver; provided, however, that the Commission shall not have the authority to operate or directly engage in transportation services such that the Commission would be subject to the jurisdiction of the federal Surface Transportation Board;  b. Sue and be sued in its own name in federal and state courts in Mercer county, New Jersey and New York county, New York, it being understood that the commissioners shall have no obligation or liability for the acts or omissions of the commission;  c. Accept, receive, disburse, encumber and expend funds from whatever source derived, including, without limitation, federal assistance, grants and loans; state and local government assistance, grants and loans; single state or bi-state agency assistance, grants and loans; and revenues received from the disposition of property; private sources, grants and loans; and Amtrak grants and loans, in each case as may be necessary to accomplish any lawful purpose which the commissioners determine will Facilitate the Project and achieve long-term stability and Full Funding;  d. Acquire (including, without limitation, by gift, purchase, exchange or condemnation in accordance with the requirements of this act), subdivide, lease, license, take, and hold property of every description and to manage such property and develop any undeveloped property owned, leased, or controlled by it in a manner necessary or appropriate to Facilitate the Project;  e. Make, procure, enter into, execute and deliver contracts and agreements and other documents and instruments as may be necessary or appropriate to carry out any power of the Commission under this act and to otherwise accomplish any lawful purpose which the commissioners determine will Facilitate the Project, including, without limitation, with the federal government, the state of New Jersey, any local government thereof, the state of New York, with any local government thereof, with any agency, instrumentality, department, commission or authority of any one or more of the foregoing, any bi-state agency, Amtrak, any individual or private firm, entity or corporation, or with any one or more of them;  f. Make applications for and accept funding, permits, authorizations and approvals as may be necessary or appropriate to accomplish any lawful purpose which the commissioners determine will Facilitate the Project, including, without limitation, with the federal government, the state of New Jersey, any local government thereof, the state of New York, any local government thereof, with any agency, instrumentality, department, commission or authority of any one or more of the foregoing, any bi-state agency, Amtrak, any individual or private firm, entity or corporation, or with any one or more of them;  g. Grant public and private entities the use of the Project or a portion thereof by way of franchise, concession, license, lease, or otherwise, provide for payments to and accept payments from such entities in exchange for value received from such use, work, or services performed or otherwise and to establish with Project users revenue sharing agreements for the use of the Project, through which the Commission may accept a portion of tolls, fees, rates, charges, and rentals established, levied, and collected by a Project user, provided that such tolls, fees, rates, charges, and rentals do not conflict with applicable federal law, the laws of the state of New Jersey and the state of New York, and paragraph (6) of subsection a. of section 4 of this act, and provided further that the Commission shall not have the authority to set passenger fares for Amtrak or any publicly owned and operated passenger service utilizing the Project;  h. In accordance with section 16 of this act, adopt its own public procurement rules and guidelines that the Commission deems necessary or appropriate to Facilitate the Project through any combination of means and methods otherwise available to the Commission under this act, regardless of whether such combination is generally available to the state of New Jersey, any local government thereof, the state of New York, any local government thereof, any agency, instrumentality, department, commission or authority of any one or more of the foregoing, or any bi-state agency, and engage and contract with third parties in accordance with such procurement rules and guidelines;  i. In accordance with section 18 of this act, dispose of, convey or transfer all or any portion of the Project for value as may be expeditious for the Facilitation of the Project, so long as it has determined that the transferee has or is provided with a sufficient source of financing to acquire, operate, maintain and own the Project;  j. Issue and guarantee bonds, notes, or other evidence of indebtedness, enter into loan agreements and otherwise borrow funds, or incur indebtedness or other future payment obligations for any corporate purpose, including to effectuate Full Funding, and to assign, pledge, mortgage, secure, encumber and use its funds, assets, properties, and revenues for repayment thereof, to be payable out of the funds, assets, properties, and revenues of the Commission without recourse to taxation, provided that the Commission shall have no power to pledge the full faith and credit of the federal government, the state of New Jersey, any local government thereof, the state of New York, any local government thereof or of Amtrak or the Port Authority of New York and New Jersey in connection with the project, or to impose any obligation for payment of the bonds upon the federal government, the state of New Jersey, any local government thereof, the state of New York, any local government thereof or of Amtrak or the Port Authority of New York and New Jersey, in each case except as set forth in a binding agreement, or to otherwise commit any party to incur any liability in excess of its contractual obligations in connection with the Project, and provided further that neither the commissioners nor any person executing any bonds issued or guaranteed by the Commission shall be liable personally on such bonds or be subject to any personal liability or accountability by reason of the issuance thereof;  k. Acquire and hold securities for investment purposes or in connection with the Facilitation of the Project;  l. Appoint, employ, contract with, and compensate such officers, employees and agents, including engineers, attorneys, consultants, financial advisors, and such other persons or entities as the business of the Commission may require and to engage and dismiss such officers, employees, and agents at will, and fix and provide for the qualification, appointment, removal, term, tenure, compensation, pension, and retirement rights of its officers and employees;  m. Obtain insurance as the Commission may deem advisable and to create a captive insurer to self-insure risk as deemed appropriate by the Commission;  n. Cooperate with the federal government, the state of New Jersey, any local government thereof, the state of New York, any local government thereof, with any agency, instrumentality, department, commission or authority of any one or more of the foregoing, any bi-state agency, Amtrak, any individual or private firm, entity or corporation, or with any one or more of them, in connection with the Project, and to enter into an agreement or agreements, notwithstanding any other provision of law of the states, general, special, charter or local, with the federal government, with the state of New Jersey, any local government thereof, the state of New York, any local government thereof, any agency, instrumentality, department, commission, or authority of any one or more of the foregoing, any bi-state agency, Amtrak, any individual or private firm, entity, or corporation, or with any one or more of the same for or relating to the Project;  o. Indemnify individuals and entities to the extent required to facilitate the project;  p. Establish or acquire subsidiaries as required to Facilitate the Project;  q. Utilize the existing labor force in the states and foster labor harmony in allowing for adoption of efficient labor work rules and practices during construction of the Project; and  r. Exercise all other powers as may be necessary or appropriate in furtherance of, and consistent with, the purposes of this act. L.2019, c.195, s.8.