§ 7. Powers.

The authority shall have powers:

(a)

To have a seal and alter the same at pleasure;

(b)

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

(c)

To 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 therein or franchises necessary or convenient for its corporate purposes, and to use the same so long as its corporate existence shall continue and to lease or make contract with respect to the use of or disposition of the same in any manner it deems to the best advantage of the authority;

(d)

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

(e)

To make contracts and leases, and to execute all instruments necessary or convenient, including contracts for construction of projects or leases of projects or contracts with respect to the use of projects which it causes to be erected or acquired and any and all persons, firms and corporations and any and all political subdivisions, departments, institutions or agencies of the state are hereby authorized to enter into contracts, leases or agreements with the authority upon such terms and for such purposes as they may deem advisable. The said authority is further granted the authority to make contracts, leases and to execute all instruments necessary or convenient with the United States government or any agency or department thereof 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 hereunder, and by the resolution or trust indenture of the authority authorizing the issuance of any of its bonds or obligations as provided in section 21 of this act [article];

(f)

To construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve, equip, operate and manage projects, as hereinabove defined, 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;

(g)

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

(h)

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

(i)

To borrow money for any of its corporate purposes and to execute evidences of such indebtedness and to secure the same and 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;

(j)

To exercise any power usually possessed by private corporations performing similar functions, which is not in conflict with the constitution and laws of this state, except the right of eminent domain;

(k)

The authority and the trustee, acting under the trust indenture, are specifically authorized, subject from time to time, to sell, lease, grant, exchange or otherwise dispose of any surplus property, both real or personal, or interest therein, 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 section 2 and section 21 hereof;

(l)

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