2006 New York Code - Additional Powers Of Municipality.

 
    §  403.  Additional  powers of municipality. In addition to the powers
  which it may now have, any municipality  shall  have  power  under  this
  article;  (a) to acquire by gift, purchase, or the exercise of the right
  of eminent domain, to construct, reconstruct, improve, better or  extend
  any undertaking, within or without the municipality, or partially within
  or partially without the municipality, and to acquire by gift, purchase,
  or the exercise of the right of eminent domain, lands or rights in lands
  or water rights in connection therewith, (b) to operate and maintain any
  undertaking   within  or  without  the  territorial  boundaries  of  the
  municipality, (c) to prescribe and collect rates, fees,  tolls,  charges
  for   the   services,  facilities  and  commodities  furnished  by  such
  undertaking and (d) to pledge to  the  punctual  payment  of  any  bonds
  issued  to carry out any of the purposes of this article and interest on
  such  bonds  an  amount  of  revenues  of  such  undertaking  (including
  improvements, betterments, or extensions thereto, thereafter constructed
  or  acquired) or of any part of such undertaking, sufficient to pay said
  bonds and interest as the same  shall  become  due  and  to  create  and
  maintain reasonable reserves therefor. Such amount may consist of all or
  any part or portion of such revenues.