§ 2-306. Powers

The powers of the authority shall include, but not be limited to, the power:

(1) Of public authorities provided by the Revenue Bond Law of Georgia (O.C.G.A. § 36-82-60 et seq.) as it has been or may hereafter be amended, and where the same are additional to or complementary of and not inconsistent with the powers herein expressly enumerated;

(2) To receive and administer gifts, grants, loans, appropriations and donations and to administer trusts, and to sell, lease, transfer, convey, appropriate, pledge, mortgage or encumber any and all of its properties and assets;

(3) To borrow money, to issue notes, bonds and revenue certificates, to execute trust agreements or indentures, and to sell, convey, mortgage, pledge and assign any and all of its funds, property and income as security therefor;

(4) To contract with the State of Georgia, agencies thereof, political subdivisions of the State of Georgia, and agencies thereof, and with private persons and corporations and to sue and be sued in its corporate name;

(5) To have and exercise any and all of the usual powers of private and public corporation except such as are inconsistent with this division, including the power to adopt and alter a corporate seal and to adopt and amend by-laws and regulations for the conduct and management of the authority;

(6) To encourage, induce, assist, promote and develop the location and expansion of industrial and commercial facilities throughout the territorial limits of the County of Bibb so as to relieve, insofar as possible, abnormal unemployment within its boundaries, and to otherwise support and expand the economy thereof;

(7) To accumulate its funds from year to year and to invest accumulated funds in any manner that public funds of the State of Georgia or any of its political subdivisions may be invested;

(8) To designate officers to sign and act for the authority generally or in any specific matter;

(9) To do any and all acts and things necessary or convenient to accomplish or to complement the purpose and powers of the authority as herein stated.

(1962 Ga. Laws (Act No. 647), page 2323, § 4)