§ 731 - General powers - Vermont Statutes

§ 731. General powers

(a) The authority has the following powers for carrying out the purposes of this chapter:

(1) To sue and be sued in its own name and to plead and be impleaded and to litigate or adjust, compromise or settle all claims or litigation in which it may be involved;

(2) To adopt an official seal and alter the same at pleasure;

(3) To borrow money and issue negotiable notes, bonds or other obligations and to provide for the payment thereof and for the rights of the holders;

(4) To invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursement, at the discretion of the authority in the same manner as permitted for investment of funds belonging to the state or held in the treasury;

(5) To adopt and amend bylaws for the management and regulation of its affairs and make, alter and enforce rules and regulations governing the conduct of its business and for use of its services and facilities;

(6) To enter into and enforce all contracts, agreements or leases necessary, and to execute all instruments necessary or convenient for the purposes of the authority or for the performance of its duties and the execution or carrying out of any of its powers under this chapter;

(7) To acquire, hold and dispose of real or personal property in the exercise of its powers;

(8) To appoint and discharge at its pleasure officers and employees it may require for the performance of its duties and to fix and determine their qualifications, duties and compensation all without regard to Title 3 of V.S.A. and to retain or employ counsel, auditors, engineers and private consultants on a contract basis or otherwise for rendering professional or technical services and advice;

(9) To make plans, surveys, and studies necessary, convenient or desirable to the effectuation of the purposes and powers of the authority and to prepare recommendations in regard thereto;

(10) To enter upon any lands, waters or premises necessary, convenient or desirable for the purpose of making surveys, soundings, borings and examinations to accomplish any purpose authorized by this chapter. The authority shall be liable for actual damage done;

(11) To conduct investigations and hearings in the furtherance of its general purposes and to have access to any relevant books, records or papers. If any person, whose testimony is required for the proper performance of the duties of the authority, shall fail or refuse to aid or assist the authority in the conduct of any investigation or hearing, or to produce any relevant books, records or other papers, the authority may apply for process of subpoena, to issue out of any superior court whose process can reach the person, upon due cause shown; and

(12) To do all things necessary, convenient or desirable to carry out the purposes of this chapter or the powers expressly granted or necessarily implied in this chapter.

(b) Notwithstanding any other law, the authority and any of its subsidiary corporations may continue to provide any retirement, disability, death or other benefits provided or required for railroad personnel pursuant to federal or state law. (Added 1973, No. 14, § 2, eff. Feb. 23, 1973; amended 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)