2006 New York Code - Powers Of The Corporation.

 
    § 604. Powers of the corporation. The corporation shall have power:
    1. To sue and be sued;
    2. To have a seal and to alter the same at its pleasure;
    3.  To acquire, hold, lease, rent and dispose of personal property for
  its corporate purpose;
    4. To acquire, in the name of the  city,  by  purchase,  condemnation,
  gift,  grant  or devise or otherwise, and to use, real property which is
  necessary or convenient for carrying out its corporate purpose; provided
  that the corporation shall not condemn any real property  without  first
  having  obtained the consent of the mayor. All real property acquired by
  the corporation by condemnation shall be acquired in the manner provided
  by law for the condemnation of real property by the city;
    5. To make by-laws for the management and regulation of its affairs;
    6. With the consent of the city, to use agents,  officers,  employees,
  and  facilities of the city, paying to the city its agreed proportion of
  the compensation or costs;
    7. To appoint officers,  agents  and  employees,  to  prescribe  their
  qualifications  and  to fix their compensation; subject, however, to the
  provisions of section six hundred six of this article;
    8. To make contracts  and  leases,  and  to  execute  all  instruments
  necessary  or  convenient to accomplish its corporate purpose; provided,
  however, that the corporation may only enter  into  agreements  for  the
  purchase  or  lease of any property to be used in whole or in part as an
  off-track betting branch office which is conditioned upon  the  location
  thereof  being  approved  by  the  site  selection  board;  and  further
  provided, that such location prior to its use as such off-track  betting
  branch office shall have been approved by the site selection board;
    9.  To  construct  such buildings, structures and facilities as may be
  necessary;
    10. To accept grants, loans and contributions from the United  States,
  the  state  or  any  agency or instrumentality of either of them, or the
  city, or  any  person,  including  gifts  or  transfers  by  bequest  or
  otherwise,  and  to  use  same  or  expend  the proceeds thereof for its
  corporate purpose;
    11. In the manner and subject to the terms and conditions set forth in
  this article, and article  five-a  of  this  chapter  to  establish  and
  conduct  a  system of off-track pari-mutuel betting in the city on horse
  races;
    12. a. To promulgate, amend and repeal  such  rules  and  regulations,
  consistent with the provisions of this article, as it may deem necessary
  or  desirable for the carrying out of the purposes of this article. Such
  rules and regulations shall have the force and effect of law.
    b. No rule or regulation promulgated by the  corporation  pursuant  to
  the  provisions  of  this  subdivision  shall  be effective until a copy
  thereof is filed with the clerk of the city.
    c. Any violation of any rule or regulation, filed with the city  clerk
  and designated by the letter "R" by resolution of the board of directors
  of  the  corporation,  shall  be  an  offense  triable by a judge of the
  criminal court of the city, and shall be punishable by imprisonment  for
  not  more  than  six  months, or by a fine of not more than one thousand
  dollars, or by both such imprisonment and fine. All such fines collected
  shall be paid to the commissioner of finance and shall be  paid  by  him
  into  the general fund of the city. Any such rule or regulation shall be
  effective, notwithstanding that any act or omission made an  offense  or
  punishable  thereby  may  be  a crime or offense or punishable under any
  other provision of law;
    13. To perform such other acts and engage in such other activities  as
  may be necessary and proper for exercising its powers and performing its
  duties under this article.