§ 39-16-8. Powers of authority.
The authority shall have power:
(1) To acquire property by voluntary purchase from the owner or owners thereof; and if
the authority deems it advisable, to acquire any of the properties through the purchase
of stock and obligations of a corporation owning the property and the dissolution
of the corporation. The owner or owners of any property that the authority is herein
authorized to acquire are hereby authorized to sell or otherwise transfer the same
to the authority, and in the case of a sale or other transfer of property pursuant
to this provision it shall be lawful to dissolve the corporation, any other provision
of law to the contrary notwithstanding.
(2) To own and operate, maintain, repair, improve, enlarge, and extend, in accordance
with the provisions of this chapter, any property acquired hereunder all of which,
together with the acquisition of the property, are hereby declared to be public purposes.
(3) To produce, distribute, and sell water within or without the territorial limits of
the district.
(4) To sue and be sued.
(5) To adopt and alter a corporate seal.
(6) To acquire, hold, use, lease, sell, transfer, and dispose of any property, real, personal,
or mixed, or interest therein for its corporate purposes, and to mortgage, pledge,
or lease any such property; provided, however, that in the case of any sale or proposed
sale of any real property hereunder, the authority shall first grant to the city or
town in which the real property, or any part thereof, is situated the right to purchase
the real property, or portion thereof situated within its boundaries, upon the same
terms and conditions as the authority offers or proposes to offer to any other prospective
purchaser.
(7) To make bylaws for the management and regulation of its affairs.
(8) To borrow money for any of its corporate purposes, including the creation and maintenance
of working capital, and to issue negotiable bonds, notes, or other obligations, and
to fund or refund the same.
(9) To fix rates and collect charges for the use of the facilities of or services rendered
by or any commodities furnished by the authority, such as to provide revenues sufficient
at all times to pay, as the same shall become due, the principal and interest on the
bonds of the authority, together with the maintenance of proper reserves therefor,
in addition to paying, as the same shall become due, the expense of operating and
maintaining the properties of the authority, together with proper reserves for depreciation,
maintenance, and contingencies and all other obligations and indebtedness of the authority.
The authority shall charge any city, county, or town for the use of any facility of
or service rendered by or any commodities furnished to it by the authority at rates
applicable to other users taking similar service.
(10) To contract in its own name for any lawful purpose that would effectuate the provisions
of this chapter; to execute all instruments necessary to carry out the purposes of
this chapter; and to do all things necessary or convenient to carry out the powers
expressly granted by this chapter; provided, however, that the full faith, credit,
and taxing power of the state or of any city, county, town, or other political subdivision
shall never be pledged, nor shall any bond, note, or other evidence of indebtedness
of the authority constitute the obligation of the state or of any city, county, town,
or other political subdivision, but shall be solely the obligation of the authority.
It is the intention of the legislature that any property acquired by the authority
pursuant to the provisions of this chapter shall be financed as a self-liquidating
enterprise, and that any indebtedness incurred by the authority shall be payable solely
from the earnings or revenues derived from all or part of the property acquired by
the authority.
(11) To enter into cooperative agreements with cities, counties, towns, or water companies
within or without the district for the interconnection of facilities or for any other
lawful corporate purposes necessary or desirable to effect the purposes of this chapter.