(a) Generally. The Authority has and may exercise all powers necessary or convenient for carrying out the purposes set forth in § 3-12-203, including:
(1) to have perpetual existence as a corporation;
(2) to sue and be sued;
(3) to adopt, use, and alter at will a corporate seal;
(4) to acquire, hold, and use any property, real, personal, or mixed, tangible or intangible, or interest necessary or desirable for carrying out the purposes of the Authority;
(5) to lease as lessee any property, real, personal, or mixed, or any interest in property, for a term not exceeding 99 years at a nominal rental or such annual rental as may be determined by the Authority;
(6) to lease, sublease, or license to the State, the County, any political subdivision, or any person, any project at any time constructed by the Authority, whether wholly or partially completed, and any property, real, personal, or mixed, tangible or intangible, or any interest in property, at any time acquired by the Authority, whether wholly or partially completed;
(7) to sell, transfer, and convey to the County at any time, the airport or any other property, real, personal, or mixed, tangible or intangible, or any interest in property, that is acquired by the Authority;
(8) to acquire by purchase, lease, or otherwise, and to construct, improve, equip, furnish, maintain, repair, and operate the airport;
(9) to appoint officers, to prescribe their duties, and to fix their compensation;
(10) to retain professional services;
(11) to make bylaws for the management and regulation of its affairs and to adopt personnel policies and procedures;
(12) to fix, charge, and collect rates, fees, rents, and charges for the use of any portion of the airport or any projects of the Authority, or for the services rendered by the Authority or its projects, at rates to be determined by it, for the purpose of:
(i) operating and maintaining the airport and projects of the Authority;
(ii) paying the principal of and interest on its bonds;
(iii) maintaining the funds as established in § 3-12-212 pledged and charged with payment of interest on and the principal of the bonds, administrative charges by the depository of the fund paying principal and interest, and any premium on the bonds retired by call or purchase;
(iv) providing for the payment of expenses of the Authority; and
(v) fulfilling the terms and provisions of any agreements made with the purchases or holders of any bonds;
(13) to borrow money and issue negotiable bonds and to secure the payment of bonds, or any part of the bonds, by pledge, mortgage, or indenture of trust of all or any part of its property, projects, revenues, rentals, receipts, and funds available from any source whatsoever, all as may be provided or authorized in the resolution authorizing the issuance of bonds, and to make agreements with the purchasers or holders of bonds or with others in connection with any bonds whether issued or to be issued, as the Authority considers advisable, and in general to provide for the security for bonds and the rights of the holders of bonds;
(14) to make contracts and to execute all instruments necessary or convenient for the carrying on of its business;
(15) to borrow money and accept grants or assignments from, and enter into contracts, leases, or other transactions with, any federal, State, County, or municipal agency;
(16) to pledge, hypothecate, or otherwise encumber all or any of the revenues or receipts of the Authority as security for all or any part of the obligations of the Authority;
(17) to acquire, by assignment from the State or the County, contracts that are not completed and that involve constructing, improving, equipping, furnishing, maintaining, and operating the structures, facilities, or undertakings that the Authority is authorized to undertake as projects;
(18) to convey to the County all of its rights, title, and interest in the airport if the bonds issued under this subtitle to provide funds for the costs of the project have been paid and retired;
(19) to accept grants from the County or any other party; and
(20) to do all acts and things necessary or convenient to carry out the powers granted to it by law.
(b) Delegation of powers and duties. The Authority may delegate to one or more of its members, or to its officers, agents, and employees, the powers and duties that it considers proper.
(1985 Code, Art. 2, § 12-210) (Bill No. 115-97)