§ 160A-556. Purpose and powers of the authority. - North Carolina Statutes

§ 160A‑556. Purpose and powers of the authority.

An authority incorporated under this Article shall constitute a publicbody and a body corporate and politic, exercising public powers as an agency orinstrumentality of the city with which it is coterminous. The purpose of theauthority shall be to relieve traffic congestion of the streets and publicplaces in the city by means of parking facilities, and to that end to acquire,construct, improve, operate and maintain one or more parking projects in the city.To carry out said purpose, the authority shall have power:

(1)        To sue and be sued;

(2)        To have a seal and alter the same at pleasure;

(3)        To acquire, hold and dispose of personal property for itscorporate purposes, including the power to purchase prospective or tentativeawards in connection with the condemnation of real property;

(4)        To acquire by purchase or condemnation, and use realproperty necessary or convenient. All real property acquired by the authorityby condemnation shall be acquired in the manner provided by law for thecondemnation of land by the city;

(5)        To make bylaws for the management and regulation of itsaffairs, and subject to agreements with bondholders, for the regulation ofparking projects;

(6)        To make contracts and leases, and to execute allinstruments  necessary or convenient;

(7)        To construct such buildings, structures and facilities asmay be necessary or convenient;

(8)        To construct, reconstruct, improve, maintain and operateparking projects;

(9)        To accept grants, loans or contributions from the UnitedStates, the State of North Carolina, or any agency or instrumentality of eitherof them, or the city, and to expend the proceeds for any purposes of theauthority;

(10)      To fix and collect rentals, fees and other charges for theuse of parking projects or any of them subject to and in accordance with suchagreements with bondholders as may be made as hereinafter provided;

(11)      To do all things necessary or convenient to carry out thepurpose of the authority and the powers expressly given to it by this Article;

(12)      To issue revenue bonds under the Local Government RevenueBond Act. (1951, c. 779, s.7; 1965, c. 998, s. 2; 1971, c. 780, s. 18; 1979, 2nd Sess., c. 1247, s. 44.)