The authority shall have the following powers together with all powersincidental thereto or necessary for the performance of those hereinafterstated:
1. To sue and be sued and to prosecute and defend, at law or in equity, inany court having jurisdiction of the subject matter and of the parties;
2. To adopt and use a corporate seal and to alter the same at its pleasure;
3. To enter into contracts;
4. To acquire, whether by purchase, exchange, gift, lease or otherwise, andto improve, maintain, equip, and furnish one or more authority facilitiesincluding all real and personal properties that the board of directors of theauthority may deem necessary in connection therewith and regardless ofwhether any such facilities shall then be in existence;
5. To lease to others any or all of its facilities and to charge and collectrent therefor and to terminate any such lease upon the failure of the lesseeto comply with any of the obligations thereof; and to include in any suchlease, if desired, a provision that the lessee thereof shall have options torenew such lease or to purchase any or all of the leased facilities, or thatupon payment of all of the indebtedness of the authority it may lease orconvey any or all of its facilities to the lessee thereof with or withoutconsideration;
6. To sell, exchange, donate, and convey any or all of its facilities orproperties whenever its board of directors shall find any such action to bein furtherance of the purposes for which the authority was organized;
7. To employ and pay compensation to such employees and agents, includingattorneys and real estate brokers whether engaged by the authority orotherwise, as the board of directors shall deem necessary in carrying on thebusiness of the authority;
8. To exercise all powers expressly given the authority by the governing bodyof the locality that established the authority and to establish bylaws andmake all rules and regulations, not inconsistent with the provisions of thischapter, deemed expedient for the management of the authority's affairs;
9. To accept contributions, grants, and other financial assistance from theUnited States of America and agencies or instrumentalities thereof, theCommonwealth, or any political subdivision, agency, or public instrumentalityof the Commonwealth, for or in aid of the construction, acquisition,ownership, maintenance, or repair of the authority facilities; or in order tomake loans in furtherance of the purposes of this chapter of suchcontributions, grants, and other financial assistance, and to this end theauthority shall have the power to comply with such conditions and to executesuch agreements, trust indentures, and other legal instruments as may benecessary, convenient, or desirable and to agree to such terms and conditionsas may be imposed;
10. To make loans or grants to any person, partnership, association,corporation, business, or governmental entity in furtherance of the purposesof this chapter including for the purposes of promoting economic development,and to enter into such contracts, instruments, and agreements as may beexpedient to provide for such loans and any security therefor. An authoritymay also be permitted to forgive loans or other obligations if it is deemedto further economic development. The word "revenues" as used in thissubdivision includes contributions, grants, and other financial assistance,as set out in subdivision 9; and
11. To establish a revolving loan fund or loan guarantee program to helpcarry out its powers and promote establishment of tourism infrastructure.
The authority shall have the following powers together with all powersincidental thereto or necessary for the performance of those hereinafterstated:
1. To sue and be sued and to prosecute and defend, at law or in equity, inany court having jurisdiction of the subject matter and of the parties;
2. To adopt and use a corporate seal and to alter the same at its pleasure;
3. To enter into contracts;
4. To acquire, whether by purchase, exchange, gift, lease or otherwise, andto improve, maintain, equip, and furnish one or more authority facilitiesincluding all real and personal properties that the board of directors of theauthority may deem necessary in connection therewith and regardless ofwhether any such facilities shall then be in existence;
5. To lease to others any or all of its facilities and to charge and collectrent therefor and to terminate any such lease upon the failure of the lesseeto comply with any of the obligations thereof; and to include in any suchlease, if desired, a provision that the lessee thereof shall have options torenew such lease or to purchase any or all of the leased facilities, or thatupon payment of all of the indebtedness of the authority it may lease orconvey any or all of its facilities to the lessee thereof with or withoutconsideration;
6. To sell, exchange, donate, and convey any or all of its facilities orproperties whenever its board of directors shall find any such action to bein furtherance of the purposes for which the authority was organized;
7. To employ and pay compensation to such employees and agents, includingattorneys and real estate brokers whether engaged by the authority orotherwise, as the board of directors shall deem necessary in carrying on thebusiness of the authority;
8. To exercise all powers expressly given the authority by the governing bodyof the locality that established the authority and to establish bylaws andmake all rules and regulations, not inconsistent with the provisions of thischapter, deemed expedient for the management of the authority's affairs;
9. To accept contributions, grants, and other financial assistance from theUnited States of America and agencies or instrumentalities thereof, theCommonwealth, or any political subdivision, agency, or public instrumentalityof the Commonwealth, for or in aid of the construction, acquisition,ownership, maintenance, or repair of the authority facilities; or in order tomake loans in furtherance of the purposes of this chapter of suchcontributions, grants, and other financial assistance, and to this end theauthority shall have the power to comply with such conditions and to executesuch agreements, trust indentures, and other legal instruments as may benecessary, convenient, or desirable and to agree to such terms and conditionsas may be imposed;
10. To make loans or grants to any person, partnership, association,corporation, business, or governmental entity in furtherance of the purposesof this chapter including for the purposes of promoting economic development,and to enter into such contracts, instruments, and agreements as may beexpedient to provide for such loans and any security therefor. An authoritymay also be permitted to forgive loans or other obligations if it is deemedto further economic development. The word "revenues" as used in thissubdivision includes contributions, grants, and other financial assistance,as set out in subdivision 9; and
11. To establish a revolving loan fund or loan guarantee program to helpcarry out its powers and promote establishment of tourism infrastructure.
The authority shall have the following powers together with all powersincidental thereto or necessary for the performance of those hereinafterstated:
1. To sue and be sued and to prosecute and defend, at law or in equity, inany court having jurisdiction of the subject matter and of the parties;
2. To adopt and use a corporate seal and to alter the same at its pleasure;
3. To enter into contracts;
4. To acquire, whether by purchase, exchange, gift, lease or otherwise, andto improve, maintain, equip, and furnish one or more authority facilitiesincluding all real and personal properties that the board of directors of theauthority may deem necessary in connection therewith and regardless ofwhether any such facilities shall then be in existence;
5. To lease to others any or all of its facilities and to charge and collectrent therefor and to terminate any such lease upon the failure of the lesseeto comply with any of the obligations thereof; and to include in any suchlease, if desired, a provision that the lessee thereof shall have options torenew such lease or to purchase any or all of the leased facilities, or thatupon payment of all of the indebtedness of the authority it may lease orconvey any or all of its facilities to the lessee thereof with or withoutconsideration;
6. To sell, exchange, donate, and convey any or all of its facilities orproperties whenever its board of directors shall find any such action to bein furtherance of the purposes for which the authority was organized;
7. To employ and pay compensation to such employees and agents, includingattorneys and real estate brokers whether engaged by the authority orotherwise, as the board of directors shall deem necessary in carrying on thebusiness of the authority;
8. To exercise all powers expressly given the authority by the governing bodyof the locality that established the authority and to establish bylaws andmake all rules and regulations, not inconsistent with the provisions of thischapter, deemed expedient for the management of the authority's affairs;
9. To accept contributions, grants, and other financial assistance from theUnited States of America and agencies or instrumentalities thereof, theCommonwealth, or any political subdivision, agency, or public instrumentalityof the Commonwealth, for or in aid of the construction, acquisition,ownership, maintenance, or repair of the authority facilities; or in order tomake loans in furtherance of the purposes of this chapter of suchcontributions, grants, and other financial assistance, and to this end theauthority shall have the power to comply with such conditions and to executesuch agreements, trust indentures, and other legal instruments as may benecessary, convenient, or desirable and to agree to such terms and conditionsas may be imposed;
10. To make loans or grants to any person, partnership, association,corporation, business, or governmental entity in furtherance of the purposesof this chapter including for the purposes of promoting economic development,and to enter into such contracts, instruments, and agreements as may beexpedient to provide for such loans and any security therefor. An authoritymay also be permitted to forgive loans or other obligations if it is deemedto further economic development. The word "revenues" as used in thissubdivision includes contributions, grants, and other financial assistance,as set out in subdivision 9; and
11. To establish a revolving loan fund or loan guarantee program to helpcarry out its powers and promote establishment of tourism infrastructure.
