N.Y. Education Law 6275 – General powers
§ 6275. General powers. The fund shall have the following powers in addition to those specially conferred elsewhere in this article:
Terms Used In N.Y. Education Law 6275
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) to sue and to be sued;
(2) to have a seal and alter the same at its pleasure;
(3) to make and alter by-laws for its organization and internal management;
(4) to prescribe a system of accounts, with the approval of the state comptroller;
(5) to accept jurisdiction over and to hold, use and improve, in accordance with such terms and conditions as the fund and the city university shall determine any or all real property acquired by, under the jurisdiction of, or assigned to the use of the board of higher education for purposes of the city university, together with such rights and privileges as may be incidental and appurtenant thereto;
(6) to purchase real property necessary or convenient for its corporate purposes in its own name and to execute and deliver deeds for real property held in its own name;
(7) to purchase, receive, lease or otherwise acquire personal property necessary and convenient for its corporate purposes and to transfer, sublease or otherwise make such personal property available to the board of higher education or the dormitory authority or to sell or otherwise to dispose of such personal property that, in the judgment of the fund, is no longer necessary for its corporate purposes;
(8) subject to other provisions of law, to give, donate, transfer, grant or lend to the city university upon such terms and conditions as is deemed appropriate such sums of money as are not required for other purposes;
(9) to make and execute contracts, leases, subleases and all other instruments or agreements necessary or convenient for the exercise of its corporate powers and purposes to an amount not exceeding seventy-five thousand dollars without prior approval by any other state officer or agency; notwithstanding the foregoing, all contracts, leases, subleases, and all other instruments or agreements exceeding seventy-five thousand dollars in amount shall be subject to § 112 of the state finance law;
(10) with the consent of the board of higher education, to use the agents, employees and facilities of the city university;
(11) to engage the services of construction, engineering, architectural, legal and financial consultants, surveyors and appraisers, on a contract basis or as employees, for professional service and technical assistance and advice;
(12) to cause facilities to be designed, constructed, acquired, reconstructed, rehabilitated, improved, operated, maintained, furnished and equipped and made secure in accordance with the provisions of this article;
(13) to procure insurance against loss in connection with any facility in such amounts and from such insurers as it deems desirable;
(14) to accept, administer and disburse federal, state, and city aid; and
(15) to do any and all things necessary or convenient to carry out its corporate powers and purposes.