§ 2-408. Powers

(a) The powers of the [transit] authority shall include, but shall not be limited to, those powers generally conferred upon authorities pursuant to law and shall also include those specifically granted by this division which may be exercised only to accomplish the purpose for which the authority is created, namely to own and operate a transit system for the purpose of transporting persons within and without the City of Macon and the County of Bibb and:

(1) To receive and administer gifts, grants, and donations.

(2) To adopt a seal to be impressed upon its instruments and may provide for the impression of such seal by printed or lithographed facsimile thereof. Any executed instrument bearing the seal of the authority shall be prima facie evidence of its execution by the authority and that its execution was duly, regularly, and legally authorized by the authority.

(3) To acquire by grant, purchase, gift, device, or lease, and to hold, use, sell, lease, or dispose of real and personal property of every kind and nature whatsoever, licenses, patents, rights, and interests necessary for the full exercise, or convenient or useful for the carrying on of any of its powers pursuant to this division.

(4) To acquire, construct, complete, develop, own, operate, and maintain a transit system including power to acquire by purchase, lease, gift, or otherwise all or any part of any patents, licenses, rights, interest, engineering studies, data, or reports owned or held by any person, firm, or corporation and determined by the authority to be necessary, convenient, or useful to the authority in connection with the acquisition, construction, completion, development, operation, or maintenance of such transit system.

(5) To appoint, select, and employ officers, agents, and employees, including engineering, architectural, and construction experts, fiscal agents, and attorneys; to fix or to provide for their respective compensation; and to provide for pension and retirement plans for these officers, agents, and employees including, but not limited to, the transfer to the authority and maintenance of a pension or retirement plan identical or similar to that heretofore in existence for the officers and employees of the Macon Transit System of the City of Macon; and to provide for or contract for group life, medical, and hospitalization insurance plans for said officers and employees and, except for members of the board of the authority, to pay the costs thereof either in whole or in part. To be a self-insurer as to workers' compensation claims without being required to comply with the provisions of O.C.G.A. § 34-9-121, which relates to self-insurers and the posting of security indemnity or bonds.

(6) To borrow money for any of its corporate purposes and to issue notes or bonds therefor and to sell, convey, mortgage, pledge, and assign any and all of its funds, property, or income as security therefor and to provide for the payment of the same and the rights of the holders thereof.

(7) To sue and to be sued in its corporate name in such actions as are permitted by law. The authority board members shall be immune from suits as to those actions for the recovery of damages; however, such immunity shall be waived as to those actions for the recovery of damages for any claim for which liability insurance protection for such claim has been provided, but only to the extent of the amount of any such liability insurance.

(8) To have and to exercise the usual powers of public and private corporations performing similar functions which are not in conflict with the constitution and laws of this state or of the United States of America.

(9) To make and execute all instruments and contracts for the acquisition of existing transportation facilities, acquisition of new facilities and properties and such other matters and things as may be needful and necessary to the proper and efficient operation of the business of the authority.

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

(11) To procure and enter into contracts for any type of insurance and indemnity against loss or damage to its property from any cause, including loss of use and occupancy, against death or injury of any person, against employers' liability, against any act of any member, officer, or employee of the board or the authority in the performance of the duties of his office or employment of any other insurable risk.

(12) To adopt, alter, or repeal its own bylaws, rules, and regulations governing the manner in which its business may be transacted and in which the powers granted to it may be enjoyed as the board may deem necessary or expedient in facilitating the business of the authority.

(13) To have the continuing power and authority at any time and from time to time to provide by resolution for the issuance of negotiable revenue bonds pursuant to and in accordance with the Revenue Bond Law of the State of Georgia for the purpose of paying all or any part of the cost of acquisition, construction, alteration, and improvement of said transit system and charges incident thereto. The authority shall likewise have the power and authority to issue refunding bonds. For the purpose of evidencing the obligation of the authority to repay any money borrowed by the authority for any of the aforesaid purposes, the authority may, pursuant to resolution adopted by the board, from time to time issue and dispose of its interest-bearing revenue bonds and may also from time to time issue and dispose of its interest-bearing bonds and refund any such bonds at maturity or pursuant to redemption provisions, or at any time before maturity with the consent of the holders thereof. Said authority may issue such types of revenue bonds as may be determined by the board, including bonds on which principal and interest are payable:

a. Exclusively from income or revenues of the operations of the authority financed with proceeds of such bonds, or together with any proceeds and grants from any governmental agency, subdivision, instrumentality, corporation, person, or any other source; or

b. From income and revenues of any unpledged assets of the authority generally. Any such bonds may be secured by mortgage or deed to secure debt on any real or personal property of the authority, except as may be prohibited by law.

(b) Neither the members of the board nor any person executing bonds on behalf of the authority shall be personally liable thereon by reason of the issuance thereof. The bonds shall not be, and shall so state on the face thereof, a debt of the City of Macon, the County of Bibb, or the State of Georgia, and they shall not directly or indirectly or contingently be obligated to levy or pledge any form of taxation whatever therefor or to make any appropriation for the payment thereof.

(c) Bonds of the authority shall be confirmed and validated in accordance with the provisions of the State Revenue Bond Law, hereinbefore referred to, and as the same may hereafter be amended, and when validated, the judgment of validation shall be final and conclusive with respect to such bonds and against the authority issuing the same.

(1980 Ga. Laws (Act No. 1284), page 4313, § 3.1; 1986 Ga. Laws (Act No. 1124), page 4601, §§ 2, 3)