Section 204 - Powers of Agency generally(a) To carry out the purposes of this part, the Agency of Transportation shall have power, subject to subsection (b) of this section:(1) To contract in the name of the State with individuals, firms, or corporations, with officials of a town, city, or village, with officials of a group of either or both of such governmental units, with officials of another state, or with officials or agencies of the federal government to carry out the purposes of this part.(2) To receive, manage, use, or expend, for purposes directed by the donor, gifts, grants, or contributions of any name or nature made to the State for the promotion or development of aeronautics or for aeronautics facilities. The authority granted in this subdivision shall be subject to the provisions of 32 V.S.A. § 5.(3) To operate, manage, use, exchange, lease, or otherwise deal with or dispose of, in whole or in part, land and rights in land acquired in the name of the State by purchase, gift, or otherwise, under authorization of this part, and to charge reasonable fees for such use or the use of landing areas, parking areas, buildings, and other facilities, or for services rendered. Monies received from the fees shall be paid into the State Treasury and credited to the Transportation Fund.(4) To acquire on behalf of the State, acting either alone or with local governmental units or the federal government, by purchase or by the exercise of the right of eminent domain, property, easements, or other rights in property needed to carry out the purposes of this part. In taking property, easements, or rights in property located in this State, the right of eminent domain shall be exercised in the manner and subject to the limitations provided for in 19 V.S.A. chapter 5, except as otherwise provided in chapter 15, subchapter 2 of this part.(b) An acquisition or transfer under this section of property or rights in property with an appraised or other estimated value of $500,000.00 or above, or of an option to acquire property with an appraised or other estimated value of $500,000.00 or above, shall be made with the specific prior approval of the General Assembly of the acquisition or transfer and its terms or, if the General Assembly is not in session, with the specific prior approval of the Joint Transportation Oversight Committee. The requirement of this subsection shall not apply, however, if the General Assembly has approved a specific project described in the annual transportation program and the scope of the project includes the acquisition or transfer of property.Added 1985, No. 222 (Adj. Sess.), § 2; amended 2011, No. 153 (Adj. Sess.), § 48; 2015 , No. 40, § 13.