§ 45-50-12. Powers of authority. The authority is authorized and empowered:

(1) To adopt bylaws for the regulation of its affairs and the conduct of its business;

(2) To adopt an official seal and alter the seal at pleasure;

(3) To maintain an office at a place or places within the municipality as it may designate;

(4) To sue and be sued in its own name, plead, and be impleaded; provided, that any and all actions against the authority are brought only in the county in which the principal office of the authority is located;

(5) To acquire, purchase, hold, and use any property, real, personal, or mixed, tangible or intangible, or any interest in it necessary or desirable for carrying out the purposes of the authority, and to mortgage, lease, or sell any of that property; and (without limitation of the preceding) to lease, as lessee, any property, real, personal, or mixed, or any interest in it, to lease as lessor to the municipality in which it is established, any project of the authority, and to sell, transfer, and convey to any lessee or to any other person upon terms and conditions and for considerations that the authority determines;

(6) To acquire by purchase, lease, or otherwise, and to construct, improve, equip, furnish, maintain, renovate, repair, and operate projects, and to establish rules and regulations for the use of any project;

(7) To rent space in public facilities, as from time to time may not be needed by any governmental entity, to any person for any other purposes that the authority may determine and upon terms and in a manner that the authority may determine;

(8) To employ, in its discretion, planning, architectural, or engineering consultants, attorneys, accountants, construction and financial experts, superintendents, managers, and any other officers, employees, and agents as may be necessary in its judgment, and to fix their compensation;

(9) To fix and revise from time to time, subject to the provisions of this chapter, and to charge and collect fees, rentals, and other charges for the use of the facilities of, or for the services rendered by, the authority or projects of the authority, at rates to be determined by the authority, for the purpose of providing for the payment of the expenses of the authority, the acquisition, construction, improvement, repair, equipping, furnishing, maintenance, and operation of its facilities and properties, and for the payment of the principal of and interest on its obligations, and to fulfill the terms and provisions of any agreements made with the purchasers or holders of any obligations;

(10) To issue bonds of the authority for any of its purposes, payable solely from the revenues pledged for their payment, and to refund its bonds, all as provided in this chapter;

(11) To borrow money in anticipation of the issuance of bonds for any of its purposes and to issue notes, certificates, or other evidences of the borrowing upon terms as may be authorized by resolution of the authority;

(12) To make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this chapter;

(13) Without limitation of the preceding, to borrow money from, to receive and accept grants for or in aid of construction or acquisition of projects authorized under this chapter from, and to enter into contracts, leases, or other transactions with any federal agency; and to receive and accept from the state or any municipality, and from any other source, aid or contributions of money, property, labor, or other things of value, to be held, used, and applied only for the purposes for which the grants and contributions may be made;

(14) To combine for financing purposes any two (2) or more projects authorized to be acquired or constructed under the provisions of this chapter;

(15) To be a promoter, partner, member, owner, associate, or manager of any partnership, condominium, or other enterprise or venture;

(16) To acquire in the name of the authority by purchase or otherwise, on terms and conditions and in the manner that it may deem proper, or by the exercise of the rights of condemnation in the manner provided, any public or private lands, including public parks, playgrounds, or reservations, or parts of them or rights in them, rights of way, property, rights, easements, and interests as it may deem necessary for carrying out the provisions of this chapter; provided, that all public property damaged in carrying out the powers granted by this chapter shall be restored or repaired and placed in its original condition as nearly as practicable; and

(17) To do all other acts and things necessary or convenient to carry out the powers expressly granted in this chapter.

History of Section. (P.L. 1987, ch. 475, § 1.)