65-23-106 - Grant of specific powers.
65-23-106. Grant of specific powers.
The authority has the power to:
(1) Sue and be sued;
(2) Have a seal and alter the same at pleasure;
(3) Render service to the inhabitants of the state and, by contract or contracts with any person, federal agency or municipality or by its own employees, acquire, own, operate, maintain and improve a system or systems;
(4) Acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein, in its own name, subject to mortgages or other liens or otherwise and pay therefor in cash or on credit, and secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board shall determine;
(5) Cause surveys to be made of areas throughout the state for the purpose of determining the economic soundness of the acquisition of a system or systems therein, make plans and estimates of the cost of such system or systems and in connection therewith enter on any lands, waters and premises for the purpose of making such surveys, soundings and examinations;
(6) Have complete control and supervision of the system or systems and make such rules and regulations governing the rendering of service thereby as, in the judgment of the board, may be just and equitable;
(7) Fix, maintain and collect rates and charges for service;
(8) Use any right-of-way, easement or other similar property right necessary or convenient in connection with the acquisition, improvement, operation or maintenance of a system or systems, held by the state or any political subdivision thereof; provided, that the governing body of such political subdivision shall consent to such use;
(9) Execute all instruments necessary or convenient, including, but not limited to, indentures of trust, leases, and bonds;
(10) Borrow money and issue negotiable bonds and to provide for the rights of the holders thereof;
(11) Accept gifts or grants of money or property, real or personal, and voluntary and uncompensated services from any person, federal agency or municipality;
(12) Condemn either the fee or such right, title, interest, or easement in property as the board may deem necessary for any of the purposes mentioned in this chapter, and such property or interest in such property may be so acquired whether or not the same is owned or held for public use by corporations, associations or persons having the power of eminent domain, or otherwise held or used for public purposes, and such power of condemnation may be exercised in the mode or method of procedure prescribed by title 29, chapter 16, or in the mode or method of procedure prescribed by any other applicable statutory provisions now in force or hereafter enacted for the exercise of the power of eminent domain; provided, that where title to any property sought to be condemned is defective, it shall be passed by decree of court; and provided further, that where condemnation proceedings become necessary the court in which such proceedings are filed shall, upon application by the authority and upon the posting of a bond with the clerk of the court in such amount as the court may deem commensurate with the value of the property, order that the right of possession shall issue immediately or as soon and upon such terms as the court, in its discretion, may deem proper and just;
(13) Make any and all contracts necessary or convenient for the full exercise of the powers granted by this section, including, but not limited to, contracts with any persons, federal agency, or municipality for the:
(A) Purchase or sale of energy;
(B) Management and conduct of the business of the authority or any part thereof; and
(C) Acquisition of all or part of any system or systems;
and in connection with any such contract, stipulate and agree to such covenants, terms and conditions as the board may deem appropriate, including, but without limitations, covenants, terms and conditions with respect to the resale rates, financial and accounting methods, services, operation and maintenance practices, and the manner of disposing of the revenues of the system or systems conducted and operated by the authority; and
(14) Do any and all acts and things authorized in this section or necessary or convenient to carry out the powers expressly given in this chapter under, through or by means of its own officers, agents and employees, or by contracts with any person, federal agency or municipality.
[Acts 1935 (E.S.), ch. 3, § 12; mod. C. Supp. 1950, § 3708.36 (Williams, § 3708.37); T.C.A. (orig. ed.), § 65-2306.]