NY Educ L § 478 (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 10-B - City of Yonkers Educational Construction Fund 478 - General Powers and Duties of Fund.

§ 478. General  powers  and  duties  of  fund. The fund shall have the   following powers in addition to those specifically  conferred  elsewhere   in this article:1. To sue and be sued;2. To have a seal and alter the same at pleasure;3.  To  make  and  alter  by-laws  for  its  organization and internal   management;4. With the approval of the commissioner of finance  of  the  city  of   Yonkers to prescribe a system of accounts;5.  To  make  rules  and  regulations  governing  the  exercise of its   corporate powers and the fulfillment of  its  corporate  purposes  under   this  article,  which  rules  and  regulations  shall  be filed with the   secretary of state in the manner provided by section one hundred two  of   the executive law;6.  With the approval of the board of education, to purchase, receive,   lease or otherwise acquire  real  and  personal  property  necessary  or   convenient for its corporate purposes;7. Subject to the terms and conditions of any lease, sublease or other   agreement with the board of education, to possess, hold, use and improve   real  and personal property acquired by or on behalf of the fund so long   as its corporate existence shall continue;8. Upon a two-thirds vote of the trustees of the fund, and subject  to   the  approval  of the board of education, to design, construct, acquire,   reconstruct, rehabilitate and improve combined occupancy structures  and   incidental  or  appurtenant facilities thereto, or cause such structures   and facilities to be  designed,  constructed,  acquired,  reconstructed,   rehabilitated  and  improved  in  accordance with the provisions of this   article;9.  In  connection  with  such  design,   construction,   acquisition,   reconstruction,  rehabilitation  and improvement, to install or cause to   be installed water, sewer,  gas,  electrical,  telephone,  heating,  air   conditioning   and   other   utility   services,  including  appropriate   connections;10. Subject to the terms and conditions  of  any  lease,  sublease  or   other  agreement  with  the  board of education, to maintain, repair and   keep up the  real  property  held  by  it  and  all  combined  occupancy   structures   and   facilities   constructed,   acquired,  reconstructed,   rehabilitated or improved pursuant to this article;11. Subject to the terms and conditions  of  any  lease,  sublease  or   other agreement with third parties and to the determination of the board   of  education  that such real property is unnecessary for the present or   foreseeable future school building needs of  the  city  of  Yonkers,  to   surrender  to the appropriate city official, for other public use or for   sale, lease or other disposition in accordance with law,  real  property   held by the fund for its corporate purposes;12.  Subject to the approval of the corporation counsel as to form, to   make and execute contracts, leases, subleases, and all other instruments   or agreements necessary or convenient for the exercise of its  corporate   powers and the fulfillment of its corporate purposes under this article;   the  term  of any such lease or sublease or renewal thereof shall not be   limited by any provision of any general, special or local law or charter   applicable to the city of Yonkers or to the board of  education  of  the   city of Yonkers;13.  To  procure  insurance  against  any  loss in connection with its   property and other assets in such amounts and from such insurers  as  it   deems desirable;14.  With  the  consent  of  the board of education to use the agents,   employees and facilities of the board; 15.   To   engage   the   services   of   construction,   engineering,   architectural,   legal   and   financial   consultants,   surveyors  and   appraisers, on a  contract  basis  or  as  employees,  for  professional   service and technical assistance and advice;16.  To  assist  generally, the public works department of the city of   Yonkers in making land  surveys,  topographical  surveys  and  valuation   appraisals  of  real  property  sought  to  be  acquired by the board of   education of the city of Yonkers;17. To borrow  money  and  issue  negotiable  notes,  bonds  or  other   obligations and to provide for the rights of the holders thereof;18.  To  invest  any  funds  held in reserves or sinking funds, or any   funds not required for immediate use or disbursement, at the  discretion   of  the fund, in obligations of the city, the state or the United States   government or obligations  the  principal  and  interest  of  which  are   guaranteed by the city, the state or the United States government;19.  To  accept  any gifts or grants or loans of funds and property or   financial or other aid in any form from the federal  government  or  any   agency  or  instrumentality  thereof or from the state or from any other   source and to comply, subject to the provisions of  this  article,  with   the terms and conditions thereof;20.  At the request or with the approval of the board of education, to   grant, sell, lease or  otherwise  transfer  without  public  auction  or   bidding any real property or any rights or interests therein or thereto,   including  fee interests, easements, space rights or air rights, held by   it and occupied or reserved for school purposes and needed therefor,  to   a  private  individual  or  private  or  public  corporation  solely and   exclusively for the purpose of developing and  constructing  therein  or   thereon  a  combined  occupancy structure, or a part or portion thereof,   within the meaning of this article subject to a  prior  and  enforceable   agreement  approved  by  the  board  of  education for the reconveyance,   retransfer or lease back of the school portion thereof, upon completion,   for use and occupancy by the said board of education; provided, however,   that no such sale, lease or transfer  of  lands  or  rights  therein  or   thereto  is  authorized  where  the  development of a combined occupancy   structure  contemplates  the  erection  of   nonschool   facilities   or   improvements  over an existing school or playground unless such combined   occupancy structure to be constructed over such playground shall provide   playground area at least equal in size to the then  existing  playground   area;21.  At the request or with the approval of the board of education, to   contract with the owner or  other  developer  of  a  combined  occupancy   structure  for  the purchase or lease of the school portion thereof upon   completion for use and occupancy by the board of education of  the  city   of Yonkers;22.  To  grant,  sell,  lease, sublease or otherwise convey the school   portion of combined occupancy structures to the city of Yonkers for  use   and occupancy by the board of education of the city of Yonkers; and23.  To do any and all things necessary or convenient to carry out its   corporate purposes and exercise the powers given and granted  to  it  in   this article.