The Authority, as a public corporation and governmental instrumentalityexercising public powers of the state, may exercise all powers necessary orappropriate to carry out the purposes of this chapter, including the power to:
1. Acquire, own, hold and dispose of property, real and personal, tangibleand intangible; provided that, the Authority shall not acquire such propertythrough the exercise of the power of eminent domain;
2. Lease property, whether as lessee or lessor, and acquire or grant througheasement, license or other appropriate legal form, the right to develop anduse property and open it to the use of the public;
3. Mortgage or otherwise grant security interests in its property;
4. Procure insurance against any losses in connection with its property,license or easements, contracts, including hold-harmless agreements,operations or assets in such amounts and from such insurers as the Authorityconsiders desirable;
5. Maintain such sinking funds and reserves as the board determinesappropriate for the purposes of meeting future monetary obligations and needsof the Authority;
6. Sue and be sued, implead and be impleaded, and complain and defend in anycourt;
7. Adopt, use, and alter at will a corporate seal;
8. Make, amend, repeal, and adopt bylaws for the management and regulation ofits affairs;
9. Make contracts of every kind and nature and execute all instrumentsnecessary or convenient for carrying on its business, including contractswith any other governmental agency of this state or of the federal governmentor with any person, individual, partnership, or corporation to effect any orall of the purposes of this chapter;
10. Accept grants and loans from and enter into contracts and othertransactions with any federal agency;
11. Maintain an office at such places within the state as it may designate;
12. Borrow money and issue bonds, security interests, or notes and providefor and secure the payment of the bonds, security interests, or notes andprovide for the rights of the holders of the bonds, security interests, ornotes and purchase, hold, and dispose of any of its bonds, securityinterests, or notes;
13. Accept gifts or grants of property, funds, security interests, money,materials, labor, supplies, or services from the federal government or fromany governmental unit or any person, firm, or corporation and to carry outthe terms or provisions of or make agreements with respect to or pledge anygifts or grants and to do any and all things necessary, useful, desirable, orconvenient in connection with the procuring, acceptance, or disposition ofgifts or grants;
14. Enter into contract with landowners and other persons holding an interestin the land being used for its recreational facilities to hold thoselandowners and other persons harmless with respect to any claim in tortgrowing out of the use of the land for public recreation or growing out ofthe recreational activities operated or managed by the Authority from anyclaim except a claim for damages proximately caused by the willful ormalicious conduct of the landowner or other person or any of his or heragents or employees;
15. Assess and collect a reasonable fee from those persons who use thetrails, parking facilities, visitor centers, or other facilities which arepart of the Southwest Regional Recreation Area and to retain and utilize thatrevenue for any purposes consistent with this chapter;
16. Adopt rules to regulate the use and maintenance of the Southwest RegionalRecreation Area;
17. Cooperate with the states of Kentucky, Tennessee, and West Virginia andappropriate state and local officials and community leaders in those statesto connect the trails in Virginia with similar recreation facilities in thosestates; and
18. Exercise all of the powers that a corporation may lawfully exercise underthe laws of the Commonwealth.
The Authority, as a public corporation and governmental instrumentalityexercising public powers of the state, may exercise all powers necessary orappropriate to carry out the purposes of this chapter, including the power to:
1. Acquire, own, hold and dispose of property, real and personal, tangibleand intangible; provided that, the Authority shall not acquire such propertythrough the exercise of the power of eminent domain;
2. Lease property, whether as lessee or lessor, and acquire or grant througheasement, license or other appropriate legal form, the right to develop anduse property and open it to the use of the public;
3. Mortgage or otherwise grant security interests in its property;
4. Procure insurance against any losses in connection with its property,license or easements, contracts, including hold-harmless agreements,operations or assets in such amounts and from such insurers as the Authorityconsiders desirable;
5. Maintain such sinking funds and reserves as the board determinesappropriate for the purposes of meeting future monetary obligations and needsof the Authority;
6. Sue and be sued, implead and be impleaded, and complain and defend in anycourt;
7. Adopt, use, and alter at will a corporate seal;
8. Make, amend, repeal, and adopt bylaws for the management and regulation ofits affairs;
9. Make contracts of every kind and nature and execute all instrumentsnecessary or convenient for carrying on its business, including contractswith any other governmental agency of this state or of the federal governmentor with any person, individual, partnership, or corporation to effect any orall of the purposes of this chapter;
10. Accept grants and loans from and enter into contracts and othertransactions with any federal agency;
11. Maintain an office at such places within the state as it may designate;
12. Borrow money and issue bonds, security interests, or notes and providefor and secure the payment of the bonds, security interests, or notes andprovide for the rights of the holders of the bonds, security interests, ornotes and purchase, hold, and dispose of any of its bonds, securityinterests, or notes;
13. Accept gifts or grants of property, funds, security interests, money,materials, labor, supplies, or services from the federal government or fromany governmental unit or any person, firm, or corporation and to carry outthe terms or provisions of or make agreements with respect to or pledge anygifts or grants and to do any and all things necessary, useful, desirable, orconvenient in connection with the procuring, acceptance, or disposition ofgifts or grants;
14. Enter into contract with landowners and other persons holding an interestin the land being used for its recreational facilities to hold thoselandowners and other persons harmless with respect to any claim in tortgrowing out of the use of the land for public recreation or growing out ofthe recreational activities operated or managed by the Authority from anyclaim except a claim for damages proximately caused by the willful ormalicious conduct of the landowner or other person or any of his or heragents or employees;
15. Assess and collect a reasonable fee from those persons who use thetrails, parking facilities, visitor centers, or other facilities which arepart of the Southwest Regional Recreation Area and to retain and utilize thatrevenue for any purposes consistent with this chapter;
16. Adopt rules to regulate the use and maintenance of the Southwest RegionalRecreation Area;
17. Cooperate with the states of Kentucky, Tennessee, and West Virginia andappropriate state and local officials and community leaders in those statesto connect the trails in Virginia with similar recreation facilities in thosestates; and
18. Exercise all of the powers that a corporation may lawfully exercise underthe laws of the Commonwealth.
The Authority, as a public corporation and governmental instrumentalityexercising public powers of the state, may exercise all powers necessary orappropriate to carry out the purposes of this chapter, including the power to:
1. Acquire, own, hold and dispose of property, real and personal, tangibleand intangible; provided that, the Authority shall not acquire such propertythrough the exercise of the power of eminent domain;
2. Lease property, whether as lessee or lessor, and acquire or grant througheasement, license or other appropriate legal form, the right to develop anduse property and open it to the use of the public;
3. Mortgage or otherwise grant security interests in its property;
4. Procure insurance against any losses in connection with its property,license or easements, contracts, including hold-harmless agreements,operations or assets in such amounts and from such insurers as the Authorityconsiders desirable;
5. Maintain such sinking funds and reserves as the board determinesappropriate for the purposes of meeting future monetary obligations and needsof the Authority;
6. Sue and be sued, implead and be impleaded, and complain and defend in anycourt;
7. Adopt, use, and alter at will a corporate seal;
8. Make, amend, repeal, and adopt bylaws for the management and regulation ofits affairs;
9. Make contracts of every kind and nature and execute all instrumentsnecessary or convenient for carrying on its business, including contractswith any other governmental agency of this state or of the federal governmentor with any person, individual, partnership, or corporation to effect any orall of the purposes of this chapter;
10. Accept grants and loans from and enter into contracts and othertransactions with any federal agency;
11. Maintain an office at such places within the state as it may designate;
12. Borrow money and issue bonds, security interests, or notes and providefor and secure the payment of the bonds, security interests, or notes andprovide for the rights of the holders of the bonds, security interests, ornotes and purchase, hold, and dispose of any of its bonds, securityinterests, or notes;
13. Accept gifts or grants of property, funds, security interests, money,materials, labor, supplies, or services from the federal government or fromany governmental unit or any person, firm, or corporation and to carry outthe terms or provisions of or make agreements with respect to or pledge anygifts or grants and to do any and all things necessary, useful, desirable, orconvenient in connection with the procuring, acceptance, or disposition ofgifts or grants;
14. Enter into contract with landowners and other persons holding an interestin the land being used for its recreational facilities to hold thoselandowners and other persons harmless with respect to any claim in tortgrowing out of the use of the land for public recreation or growing out ofthe recreational activities operated or managed by the Authority from anyclaim except a claim for damages proximately caused by the willful ormalicious conduct of the landowner or other person or any of his or heragents or employees;
15. Assess and collect a reasonable fee from those persons who use thetrails, parking facilities, visitor centers, or other facilities which arepart of the Southwest Regional Recreation Area and to retain and utilize thatrevenue for any purposes consistent with this chapter;
16. Adopt rules to regulate the use and maintenance of the Southwest RegionalRecreation Area;
17. Cooperate with the states of Kentucky, Tennessee, and West Virginia andappropriate state and local officials and community leaders in those statesto connect the trails in Virginia with similar recreation facilities in thosestates; and
18. Exercise all of the powers that a corporation may lawfully exercise underthe laws of the Commonwealth.
