§ 5104. Purposes and powers

(a) The authority may purchase, own, operate, or provide for the operation of land transportation facilities, and may contract for transit services, conduct studies, and contract with other governmental agencies, private companies, and individuals.

(b) The authority shall be a body politic and corporate with the powers incident to a municipal corporation under the laws of the State of Vermont consistent with the purposes of the authority, and may exercise all powers necessary, appurtenant, convenient, or incidental to the carrying out of its functions, including the following:

(1) to sue and be sued;

(2) to adopt, use, and alter at will a corporate seal;

(3) to acquire, purchase, hold, lease as a lessee, and use any franchise, property, real, personal, or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority, and to sell, lease as lessor, transfer, or dispose of any property or interest acquired by it;

(4) to fix, alter, charge, and establish rates, fares, and other charges for the services and facilities within its area of operation, which rates, fees, and charges shall be equitable and just;

(5) to acquire and operate, or provide for the operation of local transportation systems, public or private, within its area of operation;

(6) to make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business;

(7) to enter into management contracts with any person or persons for the management of a public transportation system or controlled by the authority for such period or periods of time, and under such compensation and other terms and conditions as shall be deemed advisable by the authority;

(8) to accept gifts or grants or loans of money or other property, and to enter into contracts, leases, or other transactions with any federal agency, the State, any agency of the State, or with any other public body of the State, including municipalities, school districts, and other authorities;

(9) to borrow money and issue evidence of indebtedness as provided by chapter 53 of this title;

(10) to develop transportation plans, and to coordinate its planning and programs with those of appropriate municipal, county, and State agencies and other political subdivisions of the State;

(11) within its area of operation, to acquire by the exercise of the power of eminent domain any real property which it may have found necessary for its purposes, in the manner provided for the condemnation of land or rights therein as set forth in 19 V.S.A. §§ 500-514 and 519;

(12) to adopt necessary rules;

(13) to do all things necessary or convenient for the conduct of its business and the general welfare of the authority in order to carry out the powers granted to it by this chapter or any other law;

(14) to enter into joint compacts with transportation authorities of other states provided that the compact has been approved by the general assembly of that state and the Congress of the United States. (Added 1975, No. 153 (Adj. Sess.), § 1, eff. March 10, 1976; amended 2011, No. 126 (Adj. Sess.), § 8; 2015, No. 23, § 125.)