§ 54.07. Purposes and powers of the trust. The purposes of the trust shall be to preserve, improve and promote the executive mansion as a historical and cultural resource of the state of New York, including by operation of an executive mansion museum, and to serve as a focal point for the receipt and administration of private, gifts, devises, loans, and bequests made or donated to these ends. To carry out such purposes, the trust shall have power:

1. To accept unconditional gifts, devises and bequests, and, with the approval of the director of the budget, conditional gifts, devises, loans, and bequests, of real or personal property for the purposes of preserving, improving or promoting the executive mansion as a historical and cultural resource of the state of New York.

2. To accept, administer and expend funds made available to the trust by private donation or public grant or appropriation for any of its purposes.

3. To operate an executive mansion museum within the executive mansion.

4. To acquire artifacts or furnishings to enhance the historical and cultural character of the executive mansion, and other real or personal property by purchase, gift, bequest, loan, or exchange, for use in, on, or to benefit the executive mansion, its grounds, and any executive mansion museum operated by the trust. The cost of acquisition of such property, exclusive of services provided by any state department, board, commission or agency, shall be paid from funds available to the trust.

5. To retain or, as appropriate, transfer immediate jurisdiction and control over any property acquired by the trust to the office of general services or other appropriate public body or agency with its consent and the prior approval of the director of the budget.

6. To undertake any work, including furnishing of services and materials, required to preserve, restore, maintain, improve or promote the historical or cultural significance or character of the executive mansion and the executive mansion museum, or any property associated with them related to their historical and cultural character, upon request or approval of the office of general services, and with the prior approval of the director of the budget.

7. To undertake or commission research or studies and to make reports relating to the executive mansion, including development of a master plan for the preservation and maintenance of the executive mansion and its grounds as a historic and cultural resource of the state of New York.

8. To appoint and employ such officers, employees and staff, qualified by training and experience, who shall be deemed to be state employees, and to retain such expert legal, financial, architectural, curatorial, conservation and other consultant services as it deems necessary to carry out its corporate purposes, including operation of an executive mansion museum.

9. To sell and convey real or personal property or interest therein, acquired by and under the jurisdiction of the trust and surplus to its needs and the needs of the executive mansion, excluding property to which the state of New York has title, in accordance with generally accepted museum standards, provided such sale and conveyance receives the prior approval of the director of the budget and does not contravene the terms or conditions of any gift, devise, loan, or bequest. The trust shall retain the proceeds derived therefrom for its corporate purposes in accordance with generally accepted museum standards.

10. To participate and cooperate with other public and private agencies having mutual interests and purposes in appropriate programs and projects intended to preserve, improve and promote the historic and cultural significance and character of the executive mansion or of the properties and activities associated with the historic or cultural significance of such mansion or executive mansion museum.

11. To administer, manage or operate any property acquired by the trust pending transfer or jurisdiction thereof, and to retain for its corporate purposes any receipts, revenues or income derived from the operation or use of such property during the pendency of such transfer.

12. To sue and be sued.

13. To have a seal and alter the same at pleasure.

14. To do all things necessary or convenient to carry out the purposes of this trust.