Section 3 - Corporate powersThe citizens of the state of New York, from time to time inhabitants of the territory comprised within the boundaries of the city, shall continue to be a municipal corporation in perpetuity under its corporate name, and the same shall in that name be a body politic and corporate in fact and in law, with power of perpetual succession. The city shall have power:
1. To take, purchase, hold, lease, sell and convey such real and personal property as the purposes of the corporation may require.2. To take by gift, grant, bequest and devise and hold real and personal estate absolutely or in trust for any public use including that of education, art, ornament, health, charity or amusement, for parks or gardens, or for the use or erection of statues, monuments, buildings or structures, upon such terms or conditions as may be prescribed by the grantor or donor and accepted by said corporation and to provide for the proper administration of the same.3. To make, have and use, and from time to time alter, a common seal.4. To contract and be contracted with, to sue and be sued, to complain and defend and to institute, prosecute, maintain and defend any action or proceeding in any court.5. To have and exercise all of the rights, privileges and jurisdiction essential to a proper exercise of its corporate functions, including all that may be necessarily incident to, or may be fairly implied from, the powers specifically conferred upon such corporation.6. To have and exercise all the rights, privileges, functions and powers now prescribed and exercised by it under existing or subsequent laws and not inconsistent with the provisions of this chapter.N.Y. Second Class Cities Law § 3