§ 2-167. Powers.

The authority shall have powers to:

(1)

Have a seal and alter it at pleasure.

(2)

Acquire by purchase, lease or otherwise, and to hold, lease and dispose of real and personal property of every kind and character for its corporate purposes.

(3)

Acquire in its own name by purchase, gift or otherwise, on such terms and conditions and in such manner as it may deem proper, real property or rights of easements in such property or franchise necessary or convenient for its corporate purposes, and to use such property so long as its corporate existence shall continue and to lease or make contract with respect to the use of or disposition of such property in any manner it deems to be the best advantage of the authority.

(4)

Appoint, select and employ officers, agents and employees, including engineering, architectural and construction experts, fiscal agents and attorneys, and fix their respective compensations.

(5)

Make contracts and leases, and to execute all instruments necessary or convenient, including contracts for construction of projects, or lease of projects, or contracts with respect to the use of projects, which it causes to be erected or acquired, and any and all persons and any and all political subdivisions, departments, institutions or agencies of the state are authorized to enter into contracts, leases or agreements with the authority upon such terms and for such purposes as they may deem advisable; the authority is further granted the authority to make contracts and leases, and to execute all instruments necessary or convenient, with the United States government, or any agency or department of the U.S. government, concerning the projects of the authority, subject to the rights and interests of the holder of any of the bonds or obligations authorized to be issued and, by the resolution or trust indenture of the authority authorizing the issuance of any of its bonds or obligations, as provided in section 2-168.

(6)

Construct, erect, acquire, own, repair, remodel and maintain, and to extend, improve, equip, operate and manage projects, the cost of any such project to be paid, in whole or in part, from the proceeds of revenue bonds or other funds of the authority or from such proceeds or other funds, and any grant from the United States or any of its agencies or instrumentalities.

(7)

Accept loans and grants, or to accept loans or grants of money or materials or property of any kind from the United States or any of its agencies or instrumentalities or political subdivisions, or from any other source, upon such terms and conditions as the United States, or such agency or instrumentality, or other source may impose.

(8)

Accept loans and grants, or accept loans or grants of money or materials or property of any kind from the state or any of its agencies or instrumentalities or political subdivisions, or from any other source, upon such terms and conditions as the state or such agency or instrumentality or political subdivision, or any other source may impose.

(9)

Borrow money for any of its corporate purposes, and execute evidence of and secure such indebtedness, and issue negotiable revenue bonds payable solely from funds pledged for that purpose, and provide for the payment of such bonds and for the rights of the bondholders.

(10)

Exercise any power usually possessed by private corporations performing similar functions, which is not in conflict with the constitution and laws of the state.

(11)

Along with the trustees acting under the trust indenture, sell, lease, grant, exchange or otherwise dispose of any surplus property, both real and personal, or interest in such property, not required in the normal operation of and usable in the furtherance of the purpose for which the authority was created, except as such right and power may be limited as provided in this article.

(12)

Regulate traffic at the airport.

(13)

Do all things necessary or convenient to carry out the powers especially given in this division.

(Code 1991, § 16-107)