State Codes and Statutes

Statutes > New-jersey > Title-58 > Section-58-1b > 58-1b-7

58:1B-7.  Powers
    Except as otherwise limited by the act, authority shall have power:

    a.  To sue and be sued.

     b.  To have an official seal and alter the same at pleasure.

     c.  To make and alter bylaws for its organization and internal management and for the conduct of its affairs and business.

     d.  To maintain an office at such place or places within the State as it may  determine.

     e.  To acquire, lease as lessee or lessor, rent, hold, use and dispose of real or personal property for its purposes.

     f.  To borrow money and to issue its negotiable bonds and to secure the same  by a mortgage on its property or any part thereof and otherwise to provide for  and secure the payment thereof and to provide for the rights of the holders  thereof.

    g.  To fix and revise from time to time and charge and collect rents, fees and charges for any of the services rendered by the authority, which shall be equitably assessed.

    h.  To procure insurance against any losses in connection with its property,  operations or assets in such amounts and from such insurers as it deems  desirable.

    i.  Subject to any agreement with bondholders to invest moneys of the authority not required for immediate use, including proceeds from the sale of any bonds, in such obligations, securities and other investments as the authority shall deem prudent.

    j.  To appoint and employ an executive director and such additional officers  who need not be members of the authority and accountants, financial advisors or  experts and such other or different officers, agents and employees as it may  require and determine their qualifications, terms of office, duties and  compensation, all without regard to the provisions of Title 11, Civil Service,  of the Revised Statutes, except with respect to those officers and employees of  the Water Supply Facilities Element who are transferred to the authority  pursuant to section 24 of this act, and these officers and employees shall  remain subject to the provisions of that Title.

    k.  To contract for and to accept any gifts or grants or loans of funds or property or financial or other aid in any form from the United States of America or any agency or instrumentality thereof, or from the State or any agency, instrumentality or political subdivision thereof, or from any other source and to comply, subject to the provisions of this act, with the terms and  conditions thereof.

      l  .  To acquire, hold, rent, lease, use and dispose of real or personal property in the exercise of its powers and the performance of its duties under this act.

    m.  To acquire, subject to the provisions of any other statute, in the name  of the authority by purchase or otherwise, on such terms and conditions and in  such manner as it may deem proper, except with respect to property owned by the  State, by the exercise of the power of eminent domain, any land and other  property, which it may determine is reasonably necessary for any of its  projects and any and all rights, title and interest in that land and other  property, including, providing there is no prudent and feasible alternative,  public lands, reservations, highways or parkways, owned by or in which the  State or any county, municipality, public corporation, or other political  subdivision of the State has any right, title or interest, or parts thereof or  rights therein and any fee simple absolute or any lesser interest in private  property, and any fee simple absolute in, easements upon or the benefit of  restrictions upon, abutting property to preserve and protect the project.

    n.  To do and perform any acts and things authorized by the act under, through, or by means of its officers, agents or employees or by contract with any person.

      o  .  To establish and enforce rules and regulations for the use and operation of its projects and the conduct of its activities, and provide for the policing and the security of its projects.

    p.  To do any and all things necessary or convenient to carry out its purposes in accordance with the powers given and granted in the act.

     L.1981, c. 293, s. 7, eff. Oct. 7, 1981.