Section 77-6-15 - Rights and powers of authorityThe authority shall have all of the rights and powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including, but without limiting the generality of the foregoing, the rights and powers:
(a) To adopt bylaws for the regulation of the affairs and the conduct of its business, and to prescribe rules, regulations and policies in connection with the performance of its functions and duties;(b) To adopt an official seal and alter the same at pleasure;(c) To sue and be sued in its own name, and to plead and be impleaded;(d) To receive, administer and comply with the conditions and requirements respecting any gift, grant or donation of any property or money;(e) To acquire by purchase, lease, gift or otherwise, or to obtain options for the acquisition of, any property, real or personal, improved or unimproved, including rights-of-way or other interests in land less than the fee thereof;(f) To sell, lease, exchange, transfer or otherwise dispose of, or to grant options for any such purposes with respect to, any real or personal property or interest therein;(g) To pledge or assign any money, rents, charges or other revenues and any proceeds derived by the authority from the sales of property, insurance or condemnation awards;(h) To issue bonds of the authority for the purpose of providing funds for any of its corporate purposes;(i) To study, plan, finance, construct, reconstruct, acquire, improve, enlarge, extend, better, own, operate and maintain, one or more projects, either individually or jointly, with one or more municipalities in this state or any other state or with any agencies or instrumentalities of any state, or any person, firm, association or corporation, public or private, engaged in the production, transmission, distribution or end-use of gas within this state or any other state, and to pay all or any part of the costs thereof from the proceeds of bonds of the authority or from any other funds made available to the authority;(j) To authorize the construction, operation or maintenance of any project or projects by any person, firm or corporation, including municipalities and agencies of any state, or of the United States;(k) To acquire by lease, purchase or otherwise an existing project or a project under construction, or any interest therein, or portion thereof; (l) With the consent of sixty percent (60%) of the member municipalities, to sell or otherwise dispose of any project or projects, or any interest therein or portion thereof. The member municipalities may enter into an agreement with the authority whereby certain types of property may be traded or otherwise disposed of without unanimous consent of the member municipalities;(m) To fix, charge and collect rents, rates, fees and charges for gas and other services, facilities and commodities sold, furnished or supplied through any project;(n) To transmit, distribute, exchange or purchase gas, and to enter into contracts for any or all such purposes;(o) To negotiate and enter into contracts for the purchase, sale, exchange, interchange, transportation, pooling, transmission, distribution, storage and processing of natural gas or use of gas with any municipality in this state or any other state owning gas distribution facilities, or with any municipalities, agencies or instrumentalities of any other state or with any gas association, any public or private utility, and any state, federal or municipal agency which owns gas production, transmission or distribution facilities end-use in this state or any other state;(p) To make and execute contracts and other instruments necessary or convenient in the exercise of the powers and functions of the authority under this chapter, including contracts with persons, firms, corporations and others;(q) To apply to the appropriate agencies of the state, the United States or any state thereof, and to any other proper agency for such permits, licenses, certificates or approvals as may be necessary to provide services, and to construct, maintain and operate projects in accordance with, and to obtain, hold and use, such licenses, permits, certificates or approvals in the same manner as any other person or operating unit of any other person;(r) To employ engineers, architects, geologists, economists, attorneys, real estate counselors, appraisers, financial advisors and such other consultants and employees as may be required in the judgment of the authority and to fix and pay their compensation from funds available to the authority therefor;(s) To purchase all kinds of insurance including, but not limited to, insurance against business interruption, and/or risks of damage to property;(t) To purchase gas and related services from any source on behalf of its members and other customers and to sell the same to its members and other customers in such amounts, with such characteristics, for such periods of time and under such terms and conditions as the board of commissioners shall determine;(u) To do any and all things necessary and proper to reduce the cost of gas furnished to municipalities contracting with the authority including, without limitation, entering into interest rate swaps and other arrangements for restructuring the authority's capitalization;(v) To provide management, technical, financial, informational, promotional and educational services to and for the benefit of the municipalities;(w) To do any and all things necessary, convenient or proper for the accomplishment of the objectives of this chapter and to exercise the powers granted to the authority herein.Laws, 1988, ch. 515, § 8; Laws, 2002, ch. 381, § 1, eff. 3/18/2002.