§ 38-26. Powers.

The authority shall have powers:

(1)

Seal. To have a seal and alter the same at pleasure;

(2)

Acquire property. 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)

Methods of acquiring property, easements. 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 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 contracts with respect to the use of or dispose of the same in any manner it deems to the best advantage of the authority, the authority being under no obligation to accept and pay for any property condemned under this article except from the funds provided under the authority of this article, and 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 article upon which any lien or other incumbrance exists, unless at the time such property is so acquired a sufficient sum of money be deposited in trust to pay and redeem the fair value of such lien or incumbrance; and if the authority shall deem it expedient to construct any project on any other lands the title to which shall then be in the State of Georgia. The governor is hereby authorized to convey, for and in behalf of the state, title to such lands to the authority upon payment to the state treasurer for the credit of the general fund of the state of the reasonable value of such lands, such value to be determined by three appraisers to be agreed upon by the governor and the chairman of the authority;

(4)

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

(5)

Contracts, leases. To make contracts, 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 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 deem advisable; and without limiting the generality of the above, authority is specifically granted to municipal corporations and counties and to the authority to enter into contracts, lease agreements, or other undertakings relative to the furnishing of water and related services and facilities by the authority to such municipal corporations and counties for a term not exceeding 50 years;

(6)

Projects. 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 of the authority or from such proceeds and any grant from the United States of America or any agency or instrumentality thereof;

(7)

Grants and loans from federal government. To accept loans and/or grants of money or materials or property of any kind from the United States of America or any agency or instrumentality thereof, including the Reconstruction Finance Corporation, upon such terms and conditions as the United States of America or such agency or instrumentality, including the Reconstruction Finance Corporation, may impose;

(8)

Borrowing money. To borrow money for any of its corporate purposes 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;

(9)

General. 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; and

(10)

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

(1951 Ga. Laws (Act No. 319), page 497, § 4)