N.Y.
Public Authorities Law Section 553
Powers of the authority
2.
To have a seal and alter the same at pleasure; * 3. To acquire, hold and dispose of personal property for its corporate purposes, including, the power to dispose of personal property with a value of five hundred thousand dollars or less by public auction in accordance with guidelines adopted by the authority pursuant to title five-A of article 9 (General Provisions)article nine of this chapter. The board shall adopt guidelines that shall provide for advertising and such other safeguards as the authority may deem appropriate in the public interest. * NB Effective until June 30, 2028 * 3. To acquire, hold and dispose of personal property for its corporate purposes; * NB Effective June 30, 2028 4. To acquire, in the name of the city, by purchase or condemnation real property or rights or easements therein necessary or convenient for its corporate purposes, and, except as may otherwise be provided herein, to use the same so long as its corporate existence shall continue; 4-a. Whenever any real property is determined by the authority to be unnecessary for its corporate purpose.(a)
to surrender such real property to the board of estimate of the city for other public use or purpose of such city, or(b)
to sell and convey or lease in behalf of such city any real property acquired by the city at the expense of the authority. The proceeds of any such sale or lease shall be paid to the authority and applied to its corporate purpose. Any such lease shall run for a term not to exceed ten years, and a renewal thereof for a term not to exceed ten years. 4-b. To apply for and receive and accept grants of property, money and services and other assistance offered or made available to it by any person, government or agency whatever, which it may use to meet capital or operating expenses and for any other use within the scope of its powers, and to negotiate for the same upon such terms and conditions as the authority may determine to be necessary, convenient or desirable. Subject to the rights of the holders of any outstanding bonds, notes or other obligations of the authority, metropolitan transportation authority, and New York city transit authority, and to facilitate the efficient financial management of the authority, metropolitan transportation authority, its subsidiary corporations, and New York city transit authority and its subsidiary corporations (the “affiliated entities”), the authority may, and may permit and direct any affiliated entity to, transfer revenues, subsidies and other monies or securities to one or more funds or accounts of another affiliated entity for use by such other affiliated entity, provided at the time of such transfer it is reasonably anticipated that the monies and securities so transferred will be reimbursed, repaid or otherwise provided for by the end of the next succeeding calendar year if reimbursement or repayment is required by law or by any agreement to which any of the affected affiliated entities is subject. Any revenues of an affiliated entity that are transferred to another affiliated entity, which transfer was not authorized by a provision of law other than this subdivision, shall be considered to be required to be repaid to the affiliated entity which was the source of such revenues by the end of the next succeeding calendar year following such transfer.5.
To make by-laws for the management and regulation of its affairs, and subject to agreements with bondholders, rules and regulations for the regulation of the use of the project and the establishment and collection of tolls thereon. Violations of such rules and regulations shall be a misdemeanor punishable by a fine of not exceeding fifty dollars or by imprisonment for not longer than thirty days, or both, except that violation of any rule or regulation governing or regulating traffic on the projects of the authority shall be a traffic infraction as the same is defined in the vehicle and traffic law and shall be punishable as such;6.
With the consent of the city to use agents, employees and facilities of the city, paying its proper proportion of the compensation or cost, and to use the corporation counsel as legal adviser;7.
To appoint officers, agents and employees and fix their compensation; subject, however, to the provisions of the civil service law, as hereinafter provided; 7-a. Notwithstanding any inconsistent provision of law, the bridge and tunnel officers employed by the authority shall have the power to issue simplified traffic informations for traffic infractions as defined in Vehicle & Traffic Law § 155 (Traffic infraction)section one hundred fifty-five of the vehicle and traffic law, committed on the sites owned, operated and maintained by the triborough bridge and tunnel authority, such informations to be administered pursuant to the provisions of title A of chapter forty of the administrative code of the city of New York or article two-A of the vehicle and traffic law, as applicable and also shall have the power to issue notices of violation for transit infractions committed in and about any or all of the facilities, equipment or real property owned, occupied or operated by the metropolitan transportation authority or its subsidiaries and the New York city transit authority and its subsidiaries, as provided and in accordance with § 1209-A (Transit adjudication bureau)section twelve hundred nine-a of this chapter. Nothing set forth in this subdivision shall be construed to impede, infringe or diminish the rights and benefits that accrue to employees and employers through collective bargaining agreements, or impact or change an employee’s membership in a bargaining unit.8.
To make contracts, and to execute all instruments necessary or convenient;9.
To acquire, design, construct, maintain, operate, improve and reconstruct, so long as its corporate existence shall continue, the following projects, (a) a bridge heretofore constructed, known as Robert F. Kennedy bridge, over the East river from the borough of Queens to the boroughs of Manhattan and the Bronx, over and across Ward’s island and Randall’s island in said river, together with such incidental bridges and structures as shall be necessary or convenient in order to give access from the bridge to both of said islands, together with approaches to said bridges (herein collectively referred to as the “Robert F. Kennedy bridge project”); and(b)
a bridge heretofore constructed, known as Bronx-Whitestone bridge, over the East river from a point at or near Whitestone in the borough of Queens to the borough of the Bronx, together with approaches to such bridge (herein collectively referred to as the “Whitestone bridge project”); and(c)
a bridge heretofore constructed, known as Henry Hudson bridge, across the Harlem river ship canal together with approaches to such bridge and together with so much of the parkway known as Henry Hudson parkway as extends southerly from said bridge through Inwood Hill park to the northerly end of Riverside drive, (as it was before the construction of said parkway) (herein collectively referred to as the “Henry Hudson bridge project”); and(d)
a bridge heretofore constructed, known as Marine parkway bridge, to be known hereafter as the Marine parkway-Gil Hodges memorial bridge, from the borough of Brooklyn across the waters of Rockaway inlet to Jacob Riis park in the borough of Queens, together with the approaches to such bridge and together with the parkway of which said bridge is a part, (and the parking field connected therewith), from and including the toll plaza north of said bridge extending eastwardly from said bridge to the easterly boundary of Jacob Riis park (herein collectively referred to as the “Marine parkway bridge project”); and(e)
a bridge heretofore constructed known as Cross Bay parkway bridge, to be known hereafter as the Cross Bay Veterans Memorial bridge, from Big Egg marsh in Jamaica bay in the borough of Queens across the waters of Beach channel to Rockaway peninsula in said borough, together with the parkway known as Cross Bay parkway, of which said bridge is a part, from and including the toll plaza north of said bridge southerly to the right of way of the Long Island railroad on Rockaway peninsula (herein collectively referred to as the “Cross Bay parkway bridge project”); and(f)
a vehicular tunnel or tunnels heretofore constructed, known as Queens Midtown tunnel, under the East river from the borough of Manhattan to the borough of Queens, together with such incidental bridges and tunnels, including but not limited to, a tunnel or tunnels or bridge across Newtown creek from the borough of Queens to the borough of Brooklyn and such other structures, appurtenances, facilities and approaches as shall be necessary or convenient; and(g)
a vehicular tunnel or tunnels under construction, known as Hugh L. Carey tunnel, under the East river from the southerly end of the borough of Manhattan to the general vicinity of Hamilton avenue in the borough of Brooklyn, together with such incidental tunnels and such other structures, appurtenances, facilities and approaches as shall be necessary or convenient; and(h)
a vehicular tunnel or tunnels or bridge, herein called the Brooklyn Richmond project, under or across New York bay from the borough of Richmond to the borough of Brooklyn, together with such incidental tunnels, bridges and such other structures, appurtenances, facilities and approaches as shall be necessary or convenient; and(i)
a vehicular tunnel or tunnels or arterial highway across the borough of Manhattan connecting the Queens Midtown tunnel with the Lincoln (Midtown Hudson) tunnel, together with such incidental tunnels and such other structures, appurtenances, facilities and approaches as shall be necessary or convenient; and(j)
Bus stations or terminals or automobile parking garages at or in the vicinity of the Columbus circle in the borough of Manhattan and of the Manhattan plazas of the Queens Midtown and Hugh L. Carey tunnels. Any such project may, subject to zoning restrictions, include space and facilities for any or all of the following: public recreation, business, trade and other exhibitions, sporting and athletic events, public meetings, conventions and all kinds of assemblages, and in order to obtain additional revenues, space and facilities for business and commercial purposes. Whenever the authority deems it to be in the public interest, the authority may lease any such project or any part or parts thereof or contract for the management and operation thereof or of any part or parts thereof. Any such lease or contract may be for a period of not exceeding ten years, or, if any of the revenues therefrom are or are to be pledged to secure bonds then such lease or contract may be for a period extending not later by more than one year than the last maturity of such bonds.(k)
Subject to and in accordance with all contract provisions with respect to any bonds and the rights of the holders of bonds, a vehicular bridge across the East river between the boroughs of the Bronx and Queens, east of the Bronx-Whitestone bridge, together with such incidental bridges and other structures, appurtenances, facilities and approaches as shall be necessary or convenient (herein collectively referred to as the “Throgs Neck bridge project”). With the consent of the United States of America, the Throgs Neck bridge project or a portion thereof, if deemed necessary or convenient by the authority, may be constructed upon or pass over any part of the military reservation known as Fort Schuyler and owned by the United States of America. No lands, easements or rights in land shall be acquired by the authority for the purposes of this paragraph without the prior consent of the board of estimate of the city.(l)
Subject to § 553-B (Additional powers and provisions in relation to convention center)section five hundred fifty-three-b of this title, a convention and exhibition center, including facilities ancillary or functionally related thereto, to be built in New York county at a location generally bounded by thirty-ninth street on the north, thirtieth street on the south, eleventh avenue on the east and twelfth avenue on the west (herein referred to as the convention center).(m)
Subject to § 553-C (Additional powers and provisions in relation to railroad and rapid transit projects)section five hundred fifty-three-c of this title, the acquisition of new rapid transit cars and the transfer of the same to the New York city transit authority for a nominal consideration. The authority shall have no obligation to operate, repair, maintain or reconstruct such cars subsequent to their acquisition and transfer nor shall it be liable to the New York city transit authority by reason of any warranty, express or implied, in respect to such cars. Manufacturers or other warranties furnished to the authority in connection with the purchase of such cars shall be assigned to the New York city transit authority for enforcement.(n)
Subject to § 553-C (Additional powers and provisions in relation to railroad and rapid transit projects)section five hundred fifty-three-c of this title, the rehabilitation of existing rapid transit cars of the New York city transit authority upon such terms and conditions as shall be agreed to by the parties. The authority shall have no obligation to operate, repair, maintain or reconstruct such cars subsequent to the rehabilitation and transfer back to the New York city transit authority nor shall it be liable to the New York city transit authority by reason of any warranty, express or implied, in respect to such cars. Manufacturers or other warranties furnished to the authority in connection with the purchase of parts or materials for such cars shall be assigned to the New York city transit authority for enforcement.(o)
Subject to § 553-C (Additional powers and provisions in relation to railroad and rapid transit projects)section five hundred fifty-three-c of this title, the acquisition of new diesel self-propelled railroad passenger cars and the transfer of the same to the metropolitan transportation authority, for a nominal consideration, for use on commuter railroads owned or controlled by the metropolitan transportation authority. The authority shall have no obligation to operate, repair, maintain or reconstruct such cars subsequent to their acquisition and transfer, nor shall it be liable to the metropolitan transportation authority by reason of any warranty, express or implied, in respect of such cars. Manufacturers or other warranties furnished to the authority in connection with the purchase of such cars shall be assigned to the metropolitan transportation authority for enforcement.(p)
Subject to § 553-C (Additional powers and provisions in relation to railroad and rapid transit projects)section five hundred fifty-three-c of this title, the acquisition of land in the name of the authority in the vicinity of Penn Station in the city of New York and/or the improvement of such land for the benefit of the Long Island Rail Road for a lay-up yard and other railroad purposes and the transfer of the said land and any improvements thereon to the metropolitan transportation authority, parent corporation of the said railroad, for a nominal consideration. The authority shall have no obligation to operate, repair, maintain or reconstruct such land or its improvements subsequent to such transfer.(r)
In its discretion and subject to and in accordance with all contract provisions with respect to any bonds and the rights of the holders of bonds, at the request of the New York city transit authority or the metropolitan transportation authority, (i) the planning for and the design, acquisition, construction, improvement, reconstruction or rehabilitation, in the name of the authority, of any capital asset, whether in the nature of personal or real property (or any interest therein) which is used or useful for a transit or transportation purpose other than a marine or aviation purpose of the requesting authority or its designated subsidiary (and in the case of such assets then owned, operated by or under lease to the requesting authority or its designated subsidiary, the receipt by the authority of the use, occupancy, control or possession of such assets for the purpose of planning, designing, constructing, improving, reconstructing or rehabilitating the same) and the transfer or transfer back of such asset to the requesting authority, its designated subsidiary or other designee for a nominal consideration upon its acquisition or upon the completion of such improvement, construction, reconstruction or rehabilitation; or, alternatively or in combination with the foregoing, (ii) the making of capital grants to the requesting authority or its designated subsidiary to permit it to undertake and to finance such planning, design, acquisition, improvement, construction, reconstruction or rehabilitation, or, alternatively or in combination with the foregoing, (iii) the financing of all or any part of the costs to the authority or to any other person or entity, public or private, of such planning, design, acquisition, construction, improvement, reconstruction or rehabilitation of any such capital asset through or accompanied by a leasing of the asset by such person or entity to the authority or through or accompanied by a sale by the authority to any such person or entity and leaseback to the authority, in each case for subleasing to the requesting authority, its designated subsidiary or other designee for a nominal rental, except that such leasing or leaseback from such person or entity may be directly to the requesting authority or its designated subsidiary or other designee, for consideration, with the consent and at the expense of the authority. The foregoing authorization shall extend to and include the continuation of projects enumerated in paragraphs (m), (n), (o) and (p) of this subdivision without regard to any limitations set forth in § 553-C (Additional powers and provisions in relation to railroad and rapid transit projects)section five hundred fifty-three-c of this title. The authority shall have no obligation to operate or, except as may otherwise be provided in any lease to which it may be a party as aforesaid, repair or maintain any capital asset after its acquisition, construction, improvement, reconstruction or rehabilitation and subsequent transfer, lease or sublease, nor shall it be liable to the transferee, lessee or sublessee by reason of any warranty, express or implied, in respect thereof. Warranties furnished in connection with such acquisition, improvement, construction, reconstruction or rehabilitation shall be assignable and assigned as directed by the requesting authority and approved by the authority.(s)
The central business district tolling program to the extent specified in article forty-four-C of the vehicle and traffic law and in this title. The word “approaches” shall include all structures necessary or convenient to give access to the project from connecting streets and roads;10.
In its discretion (a) in the case of the Robert F. Kennedy bridge project and the Whitestone bridge project to pay to the city not exceeding thirty-five per centum of the cost (including awards for damages and expenses) of the acquisition of land for the widening of existing roads, streets, parkways or avenues and for new roads, streets, parkways or avenues, connecting with the approaches.(b)
to purchase from the persons, partnerships, associations or corporations who were the owners of any land acquired for the widening of existing roads, streets, parkways or avenues or for new roads, streets, parkways or avenues connecting with the approaches or of any interest in such land at the date title to such land was vested in the city in any proceeding heretofore or hereafter instituted for the acquisition thereof by condemnation, or from their successors in interest or legal representatives, their right, title, interest and/or claim in and to the award or awards or any part thereof to be made in such proceeding after the date of such purchase, and to take an assignment thereof to the authority, provided, however, that in the case of the Robert F. Kennedy bridge project and the Whitestone bridge project the aggregate amount expended by the authority on account of all such purchases together with the aggregate amount paid to the city in accordance with paragraph (a) of this subdivision, shall not exceed thirty-five per centum of the cost (including awards for damages and expenses) of the acquisition of land for the widening of existing roads, streets, parkways or avenues, and for new roads, streets, parkways or avenues, connecting with the approaches, (c) to construct, in whole or in part, an elevated parkway in the borough of Brooklyn from the southerly terminus of the Gowanus creek bridge project to a point at or near Owls Head park connecting with the Gowanus creek bridge project, and(d)
with the consent of the city to construct and develop for the purpose of public parks so much of the area of lands, selected as in this title provided, or otherwise acquired or to be acquired and used in connection with the project and with new or existing roads, streets, parkways or avenues connecting with such projects, and so much of the area of lands now owned by the city to be used in connection with such projects or with new or existing roads, streets, parkways or avenues connecting with such projects, as shall be agreed upon under a contract or contracts hereby authorized to be entered into between the authority and the city, at the sole expense of the authority and done under construction contracts let and supervised by the authority, pursuant to plans and specifications prepared by the authority, the commissioner of parks and recreation of the city or other agency. The city shall maintain such connecting roads, streets, parkways and avenues as provided by law. The public parks and the parkways herein referred to as connecting with the approaches, any part of the cost of which is paid by the authority, shall be under the jurisdiction of the department of parks and recreation of the city and shall be maintained by that department. Service roads appurtenant to said parkways shall be under the jurisdiction of the city commissioner of transportation and shall be maintained by him;11.
To design and with the consent of the city, to construct new parks, parkways or highways or improvements to existing parks, parkways or highways either connecting directly or indirectly with the project or for the purpose of attracting or facilitating traffic or improving approaches to and connections with the project. The authority shall have no jurisdiction or control over any new parks, parkways or highways constructed by it pursuant to the provisions of this paragraph eleven after the completion of the construction thereof. The general powers conferred in this subdivision eleven shall include the power heretofore conferred on the parkway authority to construct a northerly extension of Cross Bay parkway in the borough of Queens, as authorized in sections two hundred seventy-eight, two hundred eighty-two-a and two hundred eighty-two-b of this chapter, and such general powers shall not be construed to be limited by the provisions of this act granting the power to construct any particular improvement, but shall be construed as an extension of the powers of the authority.12.
To charge tolls, fees or rentals for the use of the project, subject to and in accordance with such agreement with bondholders as may be made as hereinafter provided. The toll rates charged for the use of either the Triborough or Whitestone bridge project shall, however, never be less than the toll rates charged for the use of the other, and this clause shall be deemed an obligation to the holders of any and all bonds at any time issued secured by the revenues of said projects. Subject to contracts with bondholders, all tolls and other revenues derived from any project shall be applied to the payment of operating, administration and other necessary expenses of the authority properly chargeable to such project and thereafter to the payment of interest or principal of bonds or for making sinking fund payments for bonds, not otherwise adequately provided for, whether issued in connection with such project or any other project. It is the intention hereof that surplus funds from any project remaining after providing for the payment of all operating, administration and other necessary expenses of the authority and all contract provisions with respect to any bonds, may be used to meet obligations incurred for other projects and if not so used or reserved for such use shall, at the discretion of metropolitan transportation authority, be transferred to metropolitan transportation authority or New York city transit authority pursuant to § 569-C (Transfer and receipt of surplus funds)section five hundred sixty-nine-c of this title. Subject to contracts with bondholders, the authority may treat one or more projects as a single enterprise in respect of revenues, expenses, the issuance of bonds, maintenance, operation or other purposes; 12-a. To establish and charge variable tolls, fees and other charges for vehicles entering or remaining within the central business district and to make rules and regulations for the collection of such tolls, fees and other charges, subject to and in accordance with such agreement with bondholders and applicable federal law as may be made as hereinafter provided. Subject to agreements with bondholders and applicable federal law, all tolls, fees and other revenues derived from the central business district tolling program shall be applied to the payment of operating, administration, and other necessary expenses of the authority properly allocable to such program, including the capital costs of such program, and to the payment of interest or principal of bonds, notes or other obligations of the authority or the metropolitan transportation authority issued for transit and commuter projects as provided in § 553-J (Additional powers and provisions in relation to central business district tolling program)section five hundred fifty-three-j of this title, and shall not be subject to distribution under § 569-C (Transfer and receipt of surplus funds)section five hundred sixty-nine-c of this title or § 1219-A (Transfer and receipt of surplus funds)section twelve hundred nineteen-a of this chapter. The provisions of § 2804 (Financial disclosure by public authorities or commissions prior to toll or fare increase)section twenty-eight hundred four of this chapter shall not be applicable to the tolls and fees established by the authority pursuant to this subdivision. Any such fares, tolls, and other charges shall be established and changed only if approved by resolution of the authority adopted by not less than a majority vote of the whole number of members of the authority then in office, with the chairman having one additional vote in the event of a tie vote, and only after a public hearing.13.
To construct and maintain over, under, along or across the project telephone, telegraph, or electric wires and cables, gas mains, water mains and other mechanical equipment not inconsistent with the appropriate use of the project, to contract for such construction and to lease the right to construct and/or use the same on such terms and for such considerations as it shall determine, provided, however, that no lease shall be made except with the approval of the board of estimate of the city, or for a period of more than twenty years from the date when it is made;14.
To construct and maintain facilities for the public, not inconsistent with the use of the project, to contract for such construction, and to lease the right to construct and/or use such facilities on such terms and for such considerations as it shall determine, provided, however, that no lease shall be made for a period of more than five years from the date when it is made except with the approval of the board of estimate of the city;15.
To issue negotiable bonds and to provide for the rights of the holders thereof;16.
To enter on any lands, waters, and premises for the purpose of making surveys, soundings and examinations; 16-a. With the consent of the city and notwithstanding any other provision of law, whenever real property having dwellings or other structures thereon has been acquired by the authority or the city for the purpose of constructing any project authorized by this title, (a) to acquire real property by purchase, gift, devise or condemnation in the manner provided in this title, and as the agent of the city, for the purpose of providing new sites on which such dwellings or other structures may be relocated;(b)
to sell such dwellings or other structures or to provide for the removal, relocation and improvement of such dwellings or other structures on new foundations at such new sites by contract or by its own labor force or by a combination of methods;(c)
to contract for the installation of water, sewer, gas and electrical facilities and other necessary appurtenances required for the completion and restoration of such dwellings or other structures;(d)
to landscape such new sites;(e)
to contract with any person, firm or corporation or with the city for the improvement or installation of streets, sewers, water lines or other facilities in connection with the relocation of such dwellings or other structures and to pay the cost thereof;(f)
to contract with the several owners of such property for the conveyance of the new sites with improvements thereon to such owner in settlement in part or in whole of the compensation and damage to which they are entitled; and(g)
to sell such sites with or without dwellings or other structures and improvements thereon. The authority may agree with the owners of property acquired, in settlement in part or in whole of the damages to which they are entitled, to compensate such owners for the cost of acquiring new sites, removing dwellings thereto on new foundations, the installation of water, sewer, gas and electrical facilities and other necessary appurtenances required for the complete restoration of such dwellings or other structures and landscaping of the new site. For the purposes of this subdivision, the term “structures” shall mean and include buildings used as and for hospitals, schools, community and religious institutions, cultural and recreational and other neighborhood and community facilities, but shall exclude retail stores, factories and commercial and industrial establishments of any kind.17.
To do all things necessary or convenient to carry out the powers expressly given in this title and to assist and cooperate with the metropolitan transportation authority to carry out the powers of the metropolitan transportation authority in furtherance of the purposes and powers of the authority as provided in this article, including, without limitation, the transactions described in sections twelve hundred sixty-six-c, twelve hundred sixty-nine, and twelve hundred seventy-d of this chapter.18.
A copy of any report submitted by the authority pursuant to sections twenty-eight hundred, twenty-eight hundred one and twenty-eight hundred two of this chapter shall be submitted contemporaneously to the mayor of the city.19.
To acquire in its own name certain real or personal property, or any interest therein, including leasehold interests, air and subsurface rights, easements and lands under water at a site located in New York county and generally bounded by thirty-third street on the north, thirtieth street on the south, tenth avenue on the east and eleventh avenue on the west, such property or any interest therein to be acquired for railroad or other corporate purposes, and in the event such real or personal property or any interest therein is determined by the authority to be unnecessary for railroad or other corporate purposes, to sell, convey or lease in its own name such real or personal property or any interest therein.20.
Prior to the adoption after January first, nineteen hundred eighty-seven by the authority of a general resolution pursuant to which it is authorized to issue any general or special obligation bonds or notes to finance a project pursuant to the authorization contained in paragraph (r) of subdivision nine of this section, not including any series resolution or resolutions, and prior to the adoption of any amendment to a general resolution, whenever adopted, pursuant to which it is authorized to issue any general or special obligation bonds or notes for such purpose, not including a series resolution or resolutions, the authority shall submit a copy of such proposed resolution to the metropolitan transportation authority capital program review board (hereinafter referred to as the “board”). Within fifteen days of such submission, the board may notify the authority of its unanimous approval of the same by the members entitled to vote thereon, or if the resolution is not approved and no individual member of the board who is entitled to vote on such resolution has notified the authority in writing of his disapproval, the resolution shall be deemed to have been approved. Neither the board nor any member thereof shall disapprove a proposed resolution by reason of any covenant requiring the authority to charge and fix tolls, rentals and other charges sufficient to pay its operating expenses and the debt service, including the funding of requisite reserves, on the bonds and notes authorized by such resolution. If the board or any member thereof entitled to vote thereon shall disapprove a proposed resolution, the authority may, at any time, resubmit a reformulated resolution. Within ten days of the submission of such reformulated resolution the board may notify the authority of its unanimous approval of the same by the members entitled to vote thereon, or, if the reformulated resolution is not approved and no individual member of the board who is entitled to vote thereon has notified the authority in writing of his disapproval within such period, the reformulated resolution shall have been deemed to have been approved. Any individual member of the board who votes against a resolution or a reformulated resolution or who notifies the authority of his disapproval shall state his reasons therefor. The member appointed on the recommendation of the mayor of the city of New York shall participate in the action of the board with respect to any resolution of the authority submitted pursuant to this subdivision. The authority shall not adopt a resolution or any amendment to a resolution disapproved by the board as herein provided.21.
To invest any funds, accounts or other monies not required for immediate use or disbursement, at the discretion of the authority, in any of the investments in which the metropolitan transportation authority is permitted to invest its monies pursuant to subdivision four of § 1265 (General powers of the authority)section twelve hundred sixty-five of this chapter. * 22. § 2879 (Procurement contracts)Section twenty-eight hundred seventy-nine of this chapter shall apply to the authority’s acquisition of goods or services of any kind, in the actual or estimated amount of fifteen thousand dollars or more, provided that (i) a contract for services in the actual or estimated amount of less than one hundred thousand dollars shall not require approval by the board of the authority regardless of the length of the period over which the services are rendered, and provided further that a contract for services in the actual or estimated amount of one hundred thousand dollars or more shall require approval by the board of the authority regardless of the length of the period over which the services are rendered unless such a contract is awarded to the lowest responsible bidder after obtaining sealed bids and (ii) the board of the authority may by resolution adopt guidelines that authorize the award of contracts to small business concerns, to service disabled veteran owned businesses certified pursuant to article seventeen-b of the executive law, or minority or women-owned business enterprises certified pursuant to article fifteen-a of the executive law, or purchases of goods or technology that are recycled or remanufactured, in an amount not to exceed four hundred thousand dollars without a formal competitive process and without further board approval. The board of the authority shall adopt guidelines which shall be made publicly available for the awarding of such contract without a formal competitive process. * NB Repealed June 30, 2028
Source:
Section 553 — Powers of the authority, https://www.nysenate.gov/legislation/laws/PBA/553 (updated May 12, 2023; accessed Apr. 27, 2024).
