(a) The authority shall have the following powers, together with all powers incidental thereto or necessary to the discharge thereof in corporate form:
(1) To have succession by its corporate name for the duration of time which may be perpetuity, subject to Section 45-46-90.18, specified in its certificate of incorporation.
(2) To sue and be sued in its own name in civil suits and actions, excepting actions in tort, and to defend suits against it.
(3) To adopt and make use of a corporate seal and to alter the same at pleasure.
(4) To adopt and alter bylaws for the regulation and conduct of its affairs and business.
(5) To acquire, receive, and take, by purchase, gift, lease, devise, or otherwise, and to hold property of every description, real, personal, or mixed.
(6) To make, enter into, and execute such contracts, agreements, leases, and other instruments and to take such other actions as may be necessary or convenient to accomplish any purpose for which the authority was organized or to exercise any power expressly granted hereunder.
(7) To plan, establish, develop, acquire, purchase, lease, construct, reconstruct, enlarge, improve, maintain, equip, operate, regulate, and protect industrial and commercial facilities and port or dock facilities in Marengo County, and in such other areas as may be developed under subdivision (22), including the acquisition, construction, installation, equipment, maintenance, and operation at such port of facilities, buildings, wharves, and other facilities and the improvements that may be needed for economical and convenient use of the inland waterways in or near such county or any municipality therein, and the purchase and sale of supplies, goods, and commodities as are incident to navigation and commerce on such waterways.
(8) To construct, acquire, establish, improve, extend, enlarge, reconstruct, equip, maintain, repair, and operate inland ports, by whatever name such may be known, landing, loading, or storage areas and transportation terminals.
(9) To construct, acquire, establish, improve, extend, reconstruct, equip, maintain, and repair buildings, structures, and facilities, suitable for use as parks, exhibits, or exhibitions at, upon, or adjacent to any port or dock facility owned or operated by such authority, and to lease or let such buildings, structures, and facilities or any one or more of them to such tenant or tenants, for such term or terms, at such compensation or rental, and subject to such provisions, limitations, and conditions as the authority may require or approve.
(10) To furnish or supply upon any port or docking area owned or operated by or under the jurisdiction of the authority to persons and boats and other vessels for reward or compensation, goods, commodities, area, facilities, and services convenient or useful to the owners, operators, and users of the inland waterways, and to persons upon such waterways including, without limiting the generality of the foregoing, food, lodging, shelter, lawful drinks, confections, reading matter, oil, gasoline, boats, motors, and parts and equipment therefor, space in buildings, space for buildings and structures, parking spaces for boats and other watercraft, and the services of mechanics, instructors, and hostlers.
(11) To confer upon individuals, firms, corporations, or companies for reward or compensation the privilege or concession of supplying upon any port or docking area owned or operated by or under the jurisdiction of the authority, all or any part of the goods, commodities, things, services, and facilities in subdivision (10) authorized to be supplied.
(12) To acquire, by purchase, gift, devise, lease, or otherwise, existing ports, docks, and other navigation facilities in the county, provided, however, that the authority shall not acquire or take over any port or navigation facility owned or controlled by any county, municipality or public agency of the state, or any one or more thereof, without the consent of such county, municipality, or public agency.
(13) To sell and issue bonds of the authority in order to provide funds for any corporate function, use, or purpose, any such bonds to be payable solely out of the revenues derived from any facilities of the authority.
(14) To assume obligations secured by a lien on, or payable out of or secured by a pledge of the revenues from, any ports, docks, or related facilities or any part thereof, that may be acquired by the authority, any obligation so assumed to be payable by the authority solely out of the revenues derived from the operation of any such facilities of the authority.
(15) To pledge for payment of any bonds issued or obligations assumed by the authority any revenues from which those bonds or obligations are made payable as herein provided.
(16) To execute and deliver, in accordance with this section and of Section 45-46-90.08, mortgages, deeds of trust, and trust indentures, and any other legal instruments necessary to carry out the intent of this article.
(17) To exercise the power of eminent domain in the manner provided in and subject to Title 18, with respect to any property, real, personal, or mixed, including structures and obstructions to navigation and the commercial use of the inland waterways that may be necessary for the construction, extension, maintenance, operation, protection, enlargement, improvement, or preservation of a port or related facility. The right of eminent domain would apply only to a corridor on either side of the river, and may exempt up to one acre where residential structures exist. Nothing herein shall be construed to authorize the acquisition by eminent domain of any real property or interest therein devoted to public use.
(18) Subject to Section 45-46-90.16, to appoint, employ, contract with, and provide for the compensation of, such officers, employees, and agents including, but without limitation to, engineers, attorneys, management consultants, and fiscal advisers, as the business of the authority may require, and at its option to provide a system of disability pay, retirement compensation, and pensions, or any part of them.
(19) To make and enforce reasonable rules and regulations governing the use of any ports, docks, or other facilities owned or controlled by the authority.
(20) To provide for such insurance including, but without limitation to, use and occupancy insurance, as the board may deem advisable.
(21) To invest any funds of the authority that the board may determine are not presently needed in the operation of its properties in bonds of the United States of America, bonds of the state, bonds of any county or municipality, and interest-bearing deposits of banks and savings and loan institutions, or any thereof.
(22) To cooperate with the United States of America, any agency or instrumentality thereof, the state, any county, municipality, or other political subdivision of the state and any public corporation organized under the laws of the state, or any person as defined in Section 45-46-90.01, and to make such contracts with them, or any of them, as the board may deem advisable to accomplish the purposes for which the authority was established.
(23) To sell and convey any of its properties that may have become obsolete or worn out or that may no longer be needed or useful as a part of a port, dock, or any other facilities of the authority.
(24) To sell and convey, with or without valuable consideration, any of its properties to any one or more counties, municipalities, or public corporations organized under the laws of the state, which have the corporate power to operate the properties so conveyed and the property and income of which are not subject to taxation; provided, that any such sale and conveyance may be made:
a. Only with the consent of the authorizing county or municipality, as evidenced by a resolution adopted by such governing body; and
b. Only if any such conveyance would not constitute a breach of any then outstanding mortgage and deed of trust, trust indenture, or other agreement to which the authority is a party.
(25) To enter into a management agreement or agreements with any person for the management by or for the authority of any ports, docks, or other facilities upon such terms and conditions as may be mutually agreeable.
(26) To fix and revise from time to time reasonable fees, tolls, rents, and other charges for the use of any facilities owned or operated by the authority, and to collect all charges made by it.
(27) To apply to the United States Foreign Trade Zones Board for permission to establish, operate, and maintain a foreign trade zone in or adjacent to any port or docks facilities in the county of incorporation when the establishment of such zone, in the opinion of the board of directors, will promote the economical and convenient use of the inland waterways in and near such county. If such application is granted, then the authority shall have all powers and authority needed to establish, operate, and maintain a trade zone and to comply with all the federal laws and duly prescribed rules of the United States Foreign Trade Zones Board relating to the establishment, operation, and maintenance of such foreign trade zone.
(b) Nothing herein shall be construed to permit an authority to acquire, receive, take, hold, establish, develop, construct, reconstruct, enlarge, improve, maintain, equip, or operate any property located outside the county of incorporation, except as may be otherwise provided herein.