§ 703. Powers of the authority. The authority shall have power:

1. To sue and be sued;

2. To have a seal and alter the same at pleasure;

3. To acquire, hold and dispose of personal property for its corporate purposes;

4. To acquire, by purchase or condemnation pursuant to the condemnation law, such real property or rights or easements therein, as may be necessary or proper for the construction or operation of the bridge, and to sell any such property not needed for its corporate purposes;

5. To make by-laws for the management and regulation of its affairs;

6. To contract for professional services and to employ consulting engineers for the design of the bridge and supervision of its construction, and to employ legal consultants in both the United States and Canada; to appoint officers, agents and employees and engineers, and fix their compensation;

7. To make contracts and to execute all instruments necessary or convenient;

8. By contract or contracts or by its own employees to construct and to maintain and operate a bridge across the Saint Lawrence river at or near the city of Ogdensburg, in the county of Saint Lawrence, New York, and the approach roads which are necessary to connect the bridge with the state highway system in the state of New York at a point and in a manner approved by the state department of transportation and with the nearest highway in the province of Ontario and to acquire any property or rights of any person, firm or corporation deemed by the authority to be necessary or desirable in connection with the construction or operation of the bridge;

9. To charge tolls for the use of the bridge at rates sufficient to provide for payment of all expenses of the authority, the conservation, maintenance and operation of the bridge, the payment of the interest on and the principal of all bonds issued by the authority under the provisions of this title, and reserves for such purposes, subject to and in accordance with such agreements with bondholders as may be made as hereinafter provided;

10. To exercise in Canada all rights, powers and authority which shall be granted or permitted to the authority by the proper authorities of Canada or of the province of Ontario, including the entering upon lands and acquiring, condemning, occupying, possessing, and using such real estate and other property in Canada as may be needed by the authority in carrying out the powers herein granted;

11. Prior to the opening of the bridge for automotive traffic, to purchase, maintain and operate all or any ferries across the Saint Lawrence river within five miles of the location which shall be selected for said bridge, subject to the conditions and limitations contained in this title, and subject to the approval of the proper authorities in the government of Canada, subject to the approval of the comptroller of the state of New York and subject to the approval of the form of contract by the attorney general of the state of New York. Nothing contained in this title shall require the authority or its successors to maintain or operate any ferry or ferries purchased under the authority of this title and upon opening of the bridge for automotive traffic such automotive ferry or automotive ferry operations shall be terminated, but nothing in this article shall prohibit any party from operating a non-automotive ferry between Ogdensburg and Prescott. Upon the termination of such ferry or ferries operations any ferry or ferries so purchased, with the appurtenances and property thereto connected and belonging, shall be sold in such manner, at such time or times and for such amounts as shall be approved by the director of the budget of the state of New York. The authority and its successors may fix such rates and tolls for the use of such ferry or ferries as it may deem proper, subject to the same conditions provided by this title as to tolls for traffic over the bridge. All tolls collected for the use of the ferry or ferries and the proceeds from any sale or disposition of any ferry or ferries shall be used, as far as may be necessary, to pay the cost of maintaining, repairing and operating the same, and any residue thereof shall be paid to the state comptroller as agent of the authority and deposited by him to the credit of the Ogdensburg bridge fund;

12. To construct and maintain over, under, along or across the bridge and approach roads telephone, telegraph or electric wires and cables, gas mains, water mains, and other mechanical equipment not inconsistent with the appropriate use of the bridge and approach roads, and to contract for such construction and to lease the right to construct or use the same on such terms and for such considerations as it shall determine; provided, however, that no such lease shall extend for a period of more than twenty years or beyond the final date of maturity of any bonds issued and outstanding under the authority of this title;

13. To purchase, construct and maintain facilities for the public, consistent with the use of the bridge, to contract for such construction, and to lease the right to construct 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 thirty years from the date when it is made;

14. To issue its negotiable bonds and to provide for the rights of the holders thereof;

15. To enter on any lands, waters and premises for the purpose of making surveys, soundings and examinations;

16. To accept grants of money or real or personal property from the federal or state governments or agencies thereof, or from municipal corporations, or any other lawful source for its corporate purposes;

17. To do all things necessary or convenient to carry out the powers expressly given in this title except that the construction of the bridge herein authorized shall not be begun or any property acquired until after the necessary consents and approvals of the federal government and of the government of Canada or any subdivision or agency thereof having jurisdiction shall have been obtained.

18. To establish, maintain and operate, either by contract or contracts or by its own employees, a public bus transportation system, from an area in the vicinity of Sophia street in the city of Prescott, province of Ontario, Canada, over and across the Ogdensburg bridge to an area in the vicinity of Saint Lawrence avenue in the city of Ogdensburg, county of Saint Lawrence, state of New York, in a manner to be determined by the authority subject to the laws, rules and regulations pertaining to public bus transportation of the government of Canada, province of Ontario and the city of Prescott and subject to the laws, rules and regulations pertaining to public bus transportation of the government of the United States of America, state of New York, county of Saint Lawrence and the city of Ogdensburg.

19. To rehabilitate and modernize the building known as "Garden Cottage" and utilize, operate and maintain such building as a port facilities building including therein suitable accommodations for the authority's administration headquarters, a tourist information and service center and other office accommodations which may be leased or rented for public or private purposes.

20. To assist and cooperate with the Ogdensburg port authority and other official agencies in promoting the development and use of the Ogdensburg bridge, harbor and port facilities and when requested by it to make available to the Ogdensburg port authority at a nominal rental suitable accommodations in the port facilities building for the administration headquarters of such port authority.