§ 4. Powers.

The authority is authorized:

(1)

To have a seal and alter the same at pleasure;

(2)

To 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)

To acquire in its own name, by purchase, on such terms and conditions and in such manner as it may deem proper, or by condemnation in accordance with the provisions of any and all existing laws applicable to the condemnation of property for public use, real property, rights or easements therein, or franchises necessary for its corporate purposes and to use the same so long as its corporate existence shall continue, and to lease or make contracts with respect to the use or disposition of the same in any manner it deems to the best advantage of the authority, the authority having no power to accept and pay for any property condemned under this act [article], except from the funds provided under the authority of this act [article]. In any proceedings to condemn, such orders may be made by the court having jurisdiction of the suit, action or proceedings as may be just to the authority and to the owners of the property to be condemned, and no property shall be acquired under the provisions of this act [article] upon which any lien or other encumbrance exists unless, at the time such property is acquired, a sufficient sum of money is deposited in trust to pay and redeem the fair value of such lien or encumbrance;

(4)

To appoint, select and employ officers, agents and employees, including engineering, architectural and construction experts, fiscal agents and attorneys, and to fix their respective compensation;

(5)

To make contracts and leases and to execute all instruments necessary or convenient, including contracts for construction of projects and leases of projects or contracts with respect to the use of projects which it causes to be constructed or acquired or which are constructed or acquired by any other persons, firms or corporations; and any and all persons, firms and corporations, the state, 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 deem advisable. Without limiting the generality of the above, authority is specifically granted to municipal corporations, counties and other political subdivisions and to the authority to enter into contracts, lease agreements or other undertakings relative to the furnishing of services and facilities by the authority to such municipal corporations, counties and political subdivisions for terms not exceeding 50 years;

(6)

To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve, equip, operate and manage projects, as defined in section 3 of this act [article], 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 of America or any agency or instrumentality thereof or from the State of Georgia or any agency or instrumentality thereof;

(6.1)

To operate, manage, administrate or provide related services for projects constructed or acquired by other persons, firms or corporations;

(7)

To make loans with, and accept loans and grants of money or materials or property of any kind from, the United States of America or any agency or instrumentality thereof, upon such terms and conditions as the United States of America or such agency or instrumentality may impose;

(8)

To make loans with, and accept loans and grants of money or materials or property of any kind from, the State of Georgia or any agency or instrumentality or political subdivision thereof, upon such terms and conditions as the State of Georgia or such agency or instrumentality or political subdivision may impose;

(9)

To borrow money for any of its corporate purposes, to execute evidences of such indebtedness, to secure the same, to issue negotiable revenue bonds payable solely from funds pledged for that purpose, and to provide for the payment of the same and for the rights of the holders thereof;

(10)

To exercise any power usually possessed by private corporations performing similar functions, including the power to make short-term loans and to approve, execute and deliver appropriate evidence of any such indebtedness, which is not in conflict with the constitution and laws of this state; and

(11)

To do all things necessary or convenient to carry out the powers expressly given in this act [article].

(1999 Ga. Laws, page 3549)