§ 1379. Purposes and powers of the authority. The authority shall have power over the survey, development and operation of port facilities in such port district as hereinafter more specifically set forth, and the coordination of the same with existing or future agencies of transportation with a view to the increase and efficiency of all such facilities and the furtherance of commerce and industries in the district. It shall make a thorough investigation of port conditions in the district and such other places as it may deem proper and shall prepare a comprehensive plan for the development of port facilities in such district. It shall be provided with an office which shall be located by such authority within the port district and it shall have power to equip the same with suitable furniture and supplies for the performance of the work of the authority. The authority also shall have power to: (1) Sue and be sued. (2) Have a seal and alter the same at pleasure. (3) Confer with the governing body of the city and with any other body or official having to do with port and harbor facilities within and without the district, and to hold public hearings as to such facilities. (4) Confer with railroad, steamship, warehouse and other officials in the district with reference to the development of transportation facilities in such district and the coordination of the same, and assist and cooperate with the Ogdensburg bridge authority in the establishment, maintenance and operation of a public bus transportation system as authorized by subdivision eighteen of section seven hundred three of this chapter, including the payment of such financial assistance as may be required for the proper functioning of the said public bus transportation system. (5) Confer with the proper state officials as to means and measures for stimulating use of the Ogdensburg port. (6) Determine upon the location, type, size and construction of requisite port facilities, subject, however, to the approval of any department, commission or official of the United States of America or the state of New York where federal or state statute or regulation requires it. (7) Lease, erect, construct, make, equip and maintain port facilities in the district and for any such purpose to acquire in the name of the authority by purchase, grant, gift or condemnation, except as hereinafter limited, real property, including easements therein, lands under water and riparian rights. (8) Make surveys, maps and plans for, and estimates of the cost of, the development and operation of requisite port facilities and for the coordination of such facilities with existing agencies, both public and private, with the view of increasing the efficiency of all such facilities in the furtherance of commerce and industry in the city. (9) Make contracts and leases and to execute all instruments necessary or convenient. (10) Issue negotiable bonds within the provisions and limitations of this title and to provide for the rights of the holders thereof. (11) Issue notes within the provisions and limitations of this act. (11-a) Issue notes or other indentures to the federal government or any agency thereof secured by mortgages on real or personal property acquired from the proceeds of loans or grants or a combination of both obtained from the federal government or any agency thereof. (12) Fix fees, rates, rentals or other charges for the purpose of all port facilities owned by the authority and collect such fees, rates, rentals and other charges for such facilities owned by the authority, which fees, rates, rentals or other charges shall at all times besufficient to comply fully with all covenants and agreements with the holders of any bonds issued under the provisions of this act. (13) Operate and maintain all port facilities owned by it; use the revenues therefrom for the corporate purposes of the authority, and in accordance with any covenants or agreements contained in the proceedings authorizing the issuance of any bonds hereunder. (14) Have power to regulate and supervise the construction of all port facilities constructed or installed by any private individual or corporation commenced after this act takes effect, and the power to regulate the operation of all privately owned port facilities in so far as such operation may adversely affect the flow of transportation or the enforcement of approved plans for the development of port facilities. The power granted by this subdivision shall be subject to the rules, regulations or other directives of any federal or state department, commission or other agency having jurisdiction, and such grant of power shall not operate to deprive any person or corporation, private or public, of any property without due process of law. (15) Accept gifts, grants, loans or contributions from the United States, the state of New York or an agency or instrumentality of either of them, the city of Ogdensburg, or a person or corporation, by conveyance, bequest or otherwise, and to expend the proceeds for any purpose of the authority, and to enter into a contract with the United States, the state of New York or an agency or instrumentality of either of them, to accept gifts, grants, loans or contributions on such terms and conditions as may be provided by law authorizing the same. The city of Ogdensburg is hereby authorized to loan, donate or contribute any available fund to the port authority for any of its corporate purposes, and to appropriate such moneys for such purposes; but the city may not borrow money or otherwise pledge its faith and credit for the purpose of making any such loan, donation or contribution. (16) Have power to grant and maintain a traffic bureau in connection with the operation of port facilities. (17) Use the officers, employees, facilities and equipment of the city, with the consent of the city, and of the town, with the consent of the town, paying a proper portion of the compensation or cost. (18) Appoint officers, agents and employees and fix and determine their qualifications, duties and compensation subject to the provisions of the civil service law of the state of New York and such rules as the civil service commission of the city of Ogdensburg may adopt and make applicable to such authority. (19) Designate the depositories of its moneys. (20) Have power to do all things necessary to promote and to make Ogdensburg bridge, harbor and its port facilities and industrial projects useful and productive and to assist and cooperate with the Ogdensburg bridge authority and other public agencies for such purposes. (21) Negotiate with the officials of the city of Ogdensburg for the acquisition of the Ogdensburg municipal airport, to acquire such airport, and when so acquired, to operate, maintain and improve such airport and to construct, extend, operate and maintain runways, hangars, shops, passenger stations, control towers, and all facilities necessary or convenient in connection with a modern municipal airport; to contract for the construction, operation or maintenance of any parts thereof or for services to be performed; to rent parts thereof, and grant concessions; all on such terms and conditions as it may determine subject to all federal, state and local regulations. (22) Proceed with the development of the port district and to improve, construct and develop such facilities as it may deem necessary including the leasing or rental of its properties and facilities for public orprivate purposes in order to make the development thereof economically feasible; provided, however, that no lease shall be made for a period of more than thirty years from the date of its execution. (23) Make application to the Foreign-Trade Zones Board established by the act of Congress, approved June eighteenth, nineteen hundred thirty-four, entitled "an act to provide for the establisment, operation and maintenance of foreign trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes," for a grant to such authority of the privilege of establishing, operating and maintaining a foreign trade zone on premises owned by such authority within such city, pursuant to the provisions of such act, and if such application be granted, to accept such grant and to establish, operate and maintain such zone in accordance with law. (24) To develop and establish an industrial park on lands acquired or to be acquired by the authority for the purposes of building, constructing or causing the building or constructing of industrial projects thereon. (25) To arrange or contract with a municipality for the planning, replanning, opening, grading or closing of streets, roads, roadways, alleys or other places or for the furnishing of facilities or for the furnishing of services in connection with an industrial project. (26) To sell, lease, assign, transfer, convey, exchange, mortgage, or otherwise dispose of or encumber any industrial project, and in the case of the sale of any industrial project, to accept a purchase money mortgage in connection therewith; and to lease, repurchase or otherwise acquire and hold any industrial project which the authority has theretofore sold, leased or otherwise conveyed, transferred or disposed of. (27) To grant options to purchase any industrial project or to renew any leases entered into by it in connection with any industrial project, on such terms and conditions as it may deem advisable. (28) To prepare or cause to be prepared plans, specifications, designs and estimates of costs for the construction, reconstruction, rehabilitation, improvement, alteration or repair of any industrial project, and from time to time to modify such plans, specifications, designs or estimates. (29) In connection with any property on which it has made a mortgage loan, to foreclose on any such property or commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract or other agreement, and to bid for and purchase such property at any foreclosure or at any other sale, or acquire or take possession of any such property; and in such event the corporation may complete, administer, pay the principal of and interest on any obligations incurred in connection with such property, dispose of, and otherwise deal with such property, in such manner as may be necessary or desirable to protect the interests of the authority therein. (30) To borrow money and to issue its negotiable bonds and notes in connection with any industrial project and to provide for the rights of the holders thereof. (31) As security for the payment of the principal and interest on any bonds issued in connection with any industrial project and any agreements made in connection therewith, to mortgage and pledge any or all of its industrial projects and to pledge the revenues and receipts therefrom or from any industrial project thereof, and to assign or pledge the lease or leases on any portion or all of said industrial projects and to assign or pledge the income received by virtue of said lease or leases.(32) To invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursement, at the discretion of the authority, in obligations of the state, or of the United States government, or obligations the principal and interest of which are guaranteed by the state or the United States government. (33) The authority may acquire by purchase, gift, grant, transfer, contract or lease any railroad transportation facility and may on such terms and conditions as the authority may determine necessary establish, construct, effectuate, operate, maintain, renovate, improve or repair such line of railroad. (34) The authority may acquire, hold, own, lease, establish, construct, effectuate, operate, maintain, renovate, improve, extend or repair any of its facilities through, and cause any one or more of its powers, duties, functions or activities to be exercised or performed by, one or more wholly owned subsidiary corporations of the authority and may transfer to or from any such corporation any moneys, real property or other property for any of the purposes of this title. The directors or members of each such subsidiary corporation shall be the same persons holding the offices of members of the authority. Each such subsidiary corporation and any of its property, functions and activities shall have all of the privileges, immunities, tax exemptions and other exemptions of the authority and of the authority's property, functions and activities. Each such subsidiary corporation shall be subject to the restrictions and limitations to which the authority may be subject. Each such subsidiary corporation shall be subject to suit in accordance with section thirteen hundred sixteen of this title. The employees of any such subsidiary corporation, except those who are also employees of the authority, shall not be deemed employees of the authority. If the authority shall determine that one or more of its subsidiary corporations should be in the form of a public benefit corporation, it shall create each such public benefit corporation by executing and filing with the secretary of state a certificate of incorporation, which may be amended from time to time by filing, which shall set forth the name of such public benefit subsidiary corporation, its duration, the location of its principal office, and any or all of the purposes of acquiring, owning, leasing, establishing, constructing, effectuating, operating, maintaining, renovating, improving, extending or repairing one or more facilities of the authority. Each such public benefit subsidiary corporation shall be a body politic and corporate and shall have all those powers vested in the authority by the provisions of this title which the authority shall determine to include in its certificate of incorporation except the power to contract indebtedness. Whenever any state, political subdivision, municipality, commission, agency, officer, department, board, division or person is authorized and empowered for any of the purposes of this title to cooperate and enter into agreements with the authority such state, political subdivision, municipality, commission, agency, officer, department, board, division or person shall have the same authorization and power for any of such purposes to cooperate and enter into agreements with a subsidiary corporation of the authority.
§ 1379. Purposes and powers of the authority. The authority shall have power over the survey, development and operation of port facilities in such port district as hereinafter more specifically set forth, and the coordination of the same with existing or future agencies of transportation with a view to the increase and efficiency of all such facilities and the furtherance of commerce and industries in the district. It shall make a thorough investigation of port conditions in the district and such other places as it may deem proper and shall prepare a comprehensive plan for the development of port facilities in such district. It shall be provided with an office which shall be located by such authority within the port district and it shall have power to equip the same with suitable furniture and supplies for the performance of the work of the authority. The authority also shall have power to: (1) Sue and be sued. (2) Have a seal and alter the same at pleasure. (3) Confer with the governing body of the city and with any other body or official having to do with port and harbor facilities within and without the district, and to hold public hearings as to such facilities. (4) Confer with railroad, steamship, warehouse and other officials in the district with reference to the development of transportation facilities in such district and the coordination of the same, and assist and cooperate with the Ogdensburg bridge authority in the establishment, maintenance and operation of a public bus transportation system as authorized by subdivision eighteen of section seven hundred three of this chapter, including the payment of such financial assistance as may be required for the proper functioning of the said public bus transportation system. (5) Confer with the proper state officials as to means and measures for stimulating use of the Ogdensburg port. (6) Determine upon the location, type, size and construction of requisite port facilities, subject, however, to the approval of any department, commission or official of the United States of America or the state of New York where federal or state statute or regulation requires it. (7) Lease, erect, construct, make, equip and maintain port facilities in the district and for any such purpose to acquire in the name of the authority by purchase, grant, gift or condemnation, except as hereinafter limited, real property, including easements therein, lands under water and riparian rights. (8) Make surveys, maps and plans for, and estimates of the cost of, the development and operation of requisite port facilities and for the coordination of such facilities with existing agencies, both public and private, with the view of increasing the efficiency of all such facilities in the furtherance of commerce and industry in the city. (9) Make contracts and leases and to execute all instruments necessary or convenient. (10) Issue negotiable bonds within the provisions and limitations of this title and to provide for the rights of the holders thereof. (11) Issue notes within the provisions and limitations of this act. (11-a) Issue notes or other indentures to the federal government or any agency thereof secured by mortgages on real or personal property acquired from the proceeds of loans or grants or a combination of both obtained from the federal government or any agency thereof. (12) Fix fees, rates, rentals or other charges for the purpose of all port facilities owned by the authority and collect such fees, rates, rentals and other charges for such facilities owned by the authority, which fees, rates, rentals or other charges shall at all times besufficient to comply fully with all covenants and agreements with the holders of any bonds issued under the provisions of this act. (13) Operate and maintain all port facilities owned by it; use the revenues therefrom for the corporate purposes of the authority, and in accordance with any covenants or agreements contained in the proceedings authorizing the issuance of any bonds hereunder. (14) Have power to regulate and supervise the construction of all port facilities constructed or installed by any private individual or corporation commenced after this act takes effect, and the power to regulate the operation of all privately owned port facilities in so far as such operation may adversely affect the flow of transportation or the enforcement of approved plans for the development of port facilities. The power granted by this subdivision shall be subject to the rules, regulations or other directives of any federal or state department, commission or other agency having jurisdiction, and such grant of power shall not operate to deprive any person or corporation, private or public, of any property without due process of law. (15) Accept gifts, grants, loans or contributions from the United States, the state of New York or an agency or instrumentality of either of them, the city of Ogdensburg, or a person or corporation, by conveyance, bequest or otherwise, and to expend the proceeds for any purpose of the authority, and to enter into a contract with the United States, the state of New York or an agency or instrumentality of either of them, to accept gifts, grants, loans or contributions on such terms and conditions as may be provided by law authorizing the same. The city of Ogdensburg is hereby authorized to loan, donate or contribute any available fund to the port authority for any of its corporate purposes, and to appropriate such moneys for such purposes; but the city may not borrow money or otherwise pledge its faith and credit for the purpose of making any such loan, donation or contribution. (16) Have power to grant and maintain a traffic bureau in connection with the operation of port facilities. (17) Use the officers, employees, facilities and equipment of the city, with the consent of the city, and of the town, with the consent of the town, paying a proper portion of the compensation or cost. (18) Appoint officers, agents and employees and fix and determine their qualifications, duties and compensation subject to the provisions of the civil service law of the state of New York and such rules as the civil service commission of the city of Ogdensburg may adopt and make applicable to such authority. (19) Designate the depositories of its moneys. (20) Have power to do all things necessary to promote and to make Ogdensburg bridge, harbor and its port facilities and industrial projects useful and productive and to assist and cooperate with the Ogdensburg bridge authority and other public agencies for such purposes. (21) Negotiate with the officials of the city of Ogdensburg for the acquisition of the Ogdensburg municipal airport, to acquire such airport, and when so acquired, to operate, maintain and improve such airport and to construct, extend, operate and maintain runways, hangars, shops, passenger stations, control towers, and all facilities necessary or convenient in connection with a modern municipal airport; to contract for the construction, operation or maintenance of any parts thereof or for services to be performed; to rent parts thereof, and grant concessions; all on such terms and conditions as it may determine subject to all federal, state and local regulations. (22) Proceed with the development of the port district and to improve, construct and develop such facilities as it may deem necessary including the leasing or rental of its properties and facilities for public orprivate purposes in order to make the development thereof economically feasible; provided, however, that no lease shall be made for a period of more than thirty years from the date of its execution. (23) Make application to the Foreign-Trade Zones Board established by the act of Congress, approved June eighteenth, nineteen hundred thirty-four, entitled "an act to provide for the establisment, operation and maintenance of foreign trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes," for a grant to such authority of the privilege of establishing, operating and maintaining a foreign trade zone on premises owned by such authority within such city, pursuant to the provisions of such act, and if such application be granted, to accept such grant and to establish, operate and maintain such zone in accordance with law. (24) To develop and establish an industrial park on lands acquired or to be acquired by the authority for the purposes of building, constructing or causing the building or constructing of industrial projects thereon. (25) To arrange or contract with a municipality for the planning, replanning, opening, grading or closing of streets, roads, roadways, alleys or other places or for the furnishing of facilities or for the furnishing of services in connection with an industrial project. (26) To sell, lease, assign, transfer, convey, exchange, mortgage, or otherwise dispose of or encumber any industrial project, and in the case of the sale of any industrial project, to accept a purchase money mortgage in connection therewith; and to lease, repurchase or otherwise acquire and hold any industrial project which the authority has theretofore sold, leased or otherwise conveyed, transferred or disposed of. (27) To grant options to purchase any industrial project or to renew any leases entered into by it in connection with any industrial project, on such terms and conditions as it may deem advisable. (28) To prepare or cause to be prepared plans, specifications, designs and estimates of costs for the construction, reconstruction, rehabilitation, improvement, alteration or repair of any industrial project, and from time to time to modify such plans, specifications, designs or estimates. (29) In connection with any property on which it has made a mortgage loan, to foreclose on any such property or commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract or other agreement, and to bid for and purchase such property at any foreclosure or at any other sale, or acquire or take possession of any such property; and in such event the corporation may complete, administer, pay the principal of and interest on any obligations incurred in connection with such property, dispose of, and otherwise deal with such property, in such manner as may be necessary or desirable to protect the interests of the authority therein. (30) To borrow money and to issue its negotiable bonds and notes in connection with any industrial project and to provide for the rights of the holders thereof. (31) As security for the payment of the principal and interest on any bonds issued in connection with any industrial project and any agreements made in connection therewith, to mortgage and pledge any or all of its industrial projects and to pledge the revenues and receipts therefrom or from any industrial project thereof, and to assign or pledge the lease or leases on any portion or all of said industrial projects and to assign or pledge the income received by virtue of said lease or leases.(32) To invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursement, at the discretion of the authority, in obligations of the state, or of the United States government, or obligations the principal and interest of which are guaranteed by the state or the United States government. (33) The authority may acquire by purchase, gift, grant, transfer, contract or lease any railroad transportation facility and may on such terms and conditions as the authority may determine necessary establish, construct, effectuate, operate, maintain, renovate, improve or repair such line of railroad. (34) The authority may acquire, hold, own, lease, establish, construct, effectuate, operate, maintain, renovate, improve, extend or repair any of its facilities through, and cause any one or more of its powers, duties, functions or activities to be exercised or performed by, one or more wholly owned subsidiary corporations of the authority and may transfer to or from any such corporation any moneys, real property or other property for any of the purposes of this title. The directors or members of each such subsidiary corporation shall be the same persons holding the offices of members of the authority. Each such subsidiary corporation and any of its property, functions and activities shall have all of the privileges, immunities, tax exemptions and other exemptions of the authority and of the authority's property, functions and activities. Each such subsidiary corporation shall be subject to the restrictions and limitations to which the authority may be subject. Each such subsidiary corporation shall be subject to suit in accordance with section thirteen hundred sixteen of this title. The employees of any such subsidiary corporation, except those who are also employees of the authority, shall not be deemed employees of the authority. If the authority shall determine that one or more of its subsidiary corporations should be in the form of a public benefit corporation, it shall create each such public benefit corporation by executing and filing with the secretary of state a certificate of incorporation, which may be amended from time to time by filing, which shall set forth the name of such public benefit subsidiary corporation, its duration, the location of its principal office, and any or all of the purposes of acquiring, owning, leasing, establishing, constructing, effectuating, operating, maintaining, renovating, improving, extending or repairing one or more facilities of the authority. Each such public benefit subsidiary corporation shall be a body politic and corporate and shall have all those powers vested in the authority by the provisions of this title which the authority shall determine to include in its certificate of incorporation except the power to contract indebtedness. Whenever any state, political subdivision, municipality, commission, agency, officer, department, board, division or person is authorized and empowered for any of the purposes of this title to cooperate and enter into agreements with the authority such state, political subdivision, municipality, commission, agency, officer, department, board, division or person shall have the same authorization and power for any of such purposes to cooperate and enter into agreements with a subsidiary corporation of the authority.
§ 1379. Purposes and powers of the authority. The authority shall have power over the survey, development and operation of port facilities in such port district as hereinafter more specifically set forth, and the coordination of the same with existing or future agencies of transportation with a view to the increase and efficiency of all such facilities and the furtherance of commerce and industries in the district. It shall make a thorough investigation of port conditions in the district and such other places as it may deem proper and shall prepare a comprehensive plan for the development of port facilities in such district. It shall be provided with an office which shall be located by such authority within the port district and it shall have power to equip the same with suitable furniture and supplies for the performance of the work of the authority. The authority also shall have power to: (1) Sue and be sued. (2) Have a seal and alter the same at pleasure. (3) Confer with the governing body of the city and with any other body or official having to do with port and harbor facilities within and without the district, and to hold public hearings as to such facilities. (4) Confer with railroad, steamship, warehouse and other officials in the district with reference to the development of transportation facilities in such district and the coordination of the same, and assist and cooperate with the Ogdensburg bridge authority in the establishment, maintenance and operation of a public bus transportation system as authorized by subdivision eighteen of section seven hundred three of this chapter, including the payment of such financial assistance as may be required for the proper functioning of the said public bus transportation system. (5) Confer with the proper state officials as to means and measures for stimulating use of the Ogdensburg port. (6) Determine upon the location, type, size and construction of requisite port facilities, subject, however, to the approval of any department, commission or official of the United States of America or the state of New York where federal or state statute or regulation requires it. (7) Lease, erect, construct, make, equip and maintain port facilities in the district and for any such purpose to acquire in the name of the authority by purchase, grant, gift or condemnation, except as hereinafter limited, real property, including easements therein, lands under water and riparian rights. (8) Make surveys, maps and plans for, and estimates of the cost of, the development and operation of requisite port facilities and for the coordination of such facilities with existing agencies, both public and private, with the view of increasing the efficiency of all such facilities in the furtherance of commerce and industry in the city. (9) Make contracts and leases and to execute all instruments necessary or convenient. (10) Issue negotiable bonds within the provisions and limitations of this title and to provide for the rights of the holders thereof. (11) Issue notes within the provisions and limitations of this act. (11-a) Issue notes or other indentures to the federal government or any agency thereof secured by mortgages on real or personal property acquired from the proceeds of loans or grants or a combination of both obtained from the federal government or any agency thereof. (12) Fix fees, rates, rentals or other charges for the purpose of all port facilities owned by the authority and collect such fees, rates, rentals and other charges for such facilities owned by the authority, which fees, rates, rentals or other charges shall at all times besufficient to comply fully with all covenants and agreements with the holders of any bonds issued under the provisions of this act. (13) Operate and maintain all port facilities owned by it; use the revenues therefrom for the corporate purposes of the authority, and in accordance with any covenants or agreements contained in the proceedings authorizing the issuance of any bonds hereunder. (14) Have power to regulate and supervise the construction of all port facilities constructed or installed by any private individual or corporation commenced after this act takes effect, and the power to regulate the operation of all privately owned port facilities in so far as such operation may adversely affect the flow of transportation or the enforcement of approved plans for the development of port facilities. The power granted by this subdivision shall be subject to the rules, regulations or other directives of any federal or state department, commission or other agency having jurisdiction, and such grant of power shall not operate to deprive any person or corporation, private or public, of any property without due process of law. (15) Accept gifts, grants, loans or contributions from the United States, the state of New York or an agency or instrumentality of either of them, the city of Ogdensburg, or a person or corporation, by conveyance, bequest or otherwise, and to expend the proceeds for any purpose of the authority, and to enter into a contract with the United States, the state of New York or an agency or instrumentality of either of them, to accept gifts, grants, loans or contributions on such terms and conditions as may be provided by law authorizing the same. The city of Ogdensburg is hereby authorized to loan, donate or contribute any available fund to the port authority for any of its corporate purposes, and to appropriate such moneys for such purposes; but the city may not borrow money or otherwise pledge its faith and credit for the purpose of making any such loan, donation or contribution. (16) Have power to grant and maintain a traffic bureau in connection with the operation of port facilities. (17) Use the officers, employees, facilities and equipment of the city, with the consent of the city, and of the town, with the consent of the town, paying a proper portion of the compensation or cost. (18) Appoint officers, agents and employees and fix and determine their qualifications, duties and compensation subject to the provisions of the civil service law of the state of New York and such rules as the civil service commission of the city of Ogdensburg may adopt and make applicable to such authority. (19) Designate the depositories of its moneys. (20) Have power to do all things necessary to promote and to make Ogdensburg bridge, harbor and its port facilities and industrial projects useful and productive and to assist and cooperate with the Ogdensburg bridge authority and other public agencies for such purposes. (21) Negotiate with the officials of the city of Ogdensburg for the acquisition of the Ogdensburg municipal airport, to acquire such airport, and when so acquired, to operate, maintain and improve such airport and to construct, extend, operate and maintain runways, hangars, shops, passenger stations, control towers, and all facilities necessary or convenient in connection with a modern municipal airport; to contract for the construction, operation or maintenance of any parts thereof or for services to be performed; to rent parts thereof, and grant concessions; all on such terms and conditions as it may determine subject to all federal, state and local regulations. (22) Proceed with the development of the port district and to improve, construct and develop such facilities as it may deem necessary including the leasing or rental of its properties and facilities for public orprivate purposes in order to make the development thereof economically feasible; provided, however, that no lease shall be made for a period of more than thirty years from the date of its execution. (23) Make application to the Foreign-Trade Zones Board established by the act of Congress, approved June eighteenth, nineteen hundred thirty-four, entitled "an act to provide for the establisment, operation and maintenance of foreign trade zones in ports of entry of the United States, to expedite and encourage foreign commerce, and for other purposes," for a grant to such authority of the privilege of establishing, operating and maintaining a foreign trade zone on premises owned by such authority within such city, pursuant to the provisions of such act, and if such application be granted, to accept such grant and to establish, operate and maintain such zone in accordance with law. (24) To develop and establish an industrial park on lands acquired or to be acquired by the authority for the purposes of building, constructing or causing the building or constructing of industrial projects thereon. (25) To arrange or contract with a municipality for the planning, replanning, opening, grading or closing of streets, roads, roadways, alleys or other places or for the furnishing of facilities or for the furnishing of services in connection with an industrial project. (26) To sell, lease, assign, transfer, convey, exchange, mortgage, or otherwise dispose of or encumber any industrial project, and in the case of the sale of any industrial project, to accept a purchase money mortgage in connection therewith; and to lease, repurchase or otherwise acquire and hold any industrial project which the authority has theretofore sold, leased or otherwise conveyed, transferred or disposed of. (27) To grant options to purchase any industrial project or to renew any leases entered into by it in connection with any industrial project, on such terms and conditions as it may deem advisable. (28) To prepare or cause to be prepared plans, specifications, designs and estimates of costs for the construction, reconstruction, rehabilitation, improvement, alteration or repair of any industrial project, and from time to time to modify such plans, specifications, designs or estimates. (29) In connection with any property on which it has made a mortgage loan, to foreclose on any such property or commence any action to protect or enforce any right conferred upon it by any law, mortgage, contract or other agreement, and to bid for and purchase such property at any foreclosure or at any other sale, or acquire or take possession of any such property; and in such event the corporation may complete, administer, pay the principal of and interest on any obligations incurred in connection with such property, dispose of, and otherwise deal with such property, in such manner as may be necessary or desirable to protect the interests of the authority therein. (30) To borrow money and to issue its negotiable bonds and notes in connection with any industrial project and to provide for the rights of the holders thereof. (31) As security for the payment of the principal and interest on any bonds issued in connection with any industrial project and any agreements made in connection therewith, to mortgage and pledge any or all of its industrial projects and to pledge the revenues and receipts therefrom or from any industrial project thereof, and to assign or pledge the lease or leases on any portion or all of said industrial projects and to assign or pledge the income received by virtue of said lease or leases.(32) To invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursement, at the discretion of the authority, in obligations of the state, or of the United States government, or obligations the principal and interest of which are guaranteed by the state or the United States government. (33) The authority may acquire by purchase, gift, grant, transfer, contract or lease any railroad transportation facility and may on such terms and conditions as the authority may determine necessary establish, construct, effectuate, operate, maintain, renovate, improve or repair such line of railroad. (34) The authority may acquire, hold, own, lease, establish, construct, effectuate, operate, maintain, renovate, improve, extend or repair any of its facilities through, and cause any one or more of its powers, duties, functions or activities to be exercised or performed by, one or more wholly owned subsidiary corporations of the authority and may transfer to or from any such corporation any moneys, real property or other property for any of the purposes of this title. The directors or members of each such subsidiary corporation shall be the same persons holding the offices of members of the authority. Each such subsidiary corporation and any of its property, functions and activities shall have all of the privileges, immunities, tax exemptions and other exemptions of the authority and of the authority's property, functions and activities. Each such subsidiary corporation shall be subject to the restrictions and limitations to which the authority may be subject. Each such subsidiary corporation shall be subject to suit in accordance with section thirteen hundred sixteen of this title. The employees of any such subsidiary corporation, except those who are also employees of the authority, shall not be deemed employees of the authority. If the authority shall determine that one or more of its subsidiary corporations should be in the form of a public benefit corporation, it shall create each such public benefit corporation by executing and filing with the secretary of state a certificate of incorporation, which may be amended from time to time by filing, which shall set forth the name of such public benefit subsidiary corporation, its duration, the location of its principal office, and any or all of the purposes of acquiring, owning, leasing, establishing, constructing, effectuating, operating, maintaining, renovating, improving, extending or repairing one or more facilities of the authority. Each such public benefit subsidiary corporation shall be a body politic and corporate and shall have all those powers vested in the authority by the provisions of this title which the authority shall determine to include in its certificate of incorporation except the power to contract indebtedness. Whenever any state, political subdivision, municipality, commission, agency, officer, department, board, division or person is authorized and empowered for any of the purposes of this title to cooperate and enter into agreements with the authority such state, political subdivision, municipality, commission, agency, officer, department, board, division or person shall have the same authorization and power for any of such purposes to cooperate and enter into agreements with a subsidiary corporation of the authority.
