9-3-506 - Authority -- Powers.
9-3-506. Authority -- Powers.
(1) The authority shall operate and maintain a scenic and historic railroad in and aroundthe Heber Valley.
(2) The authority has perpetual succession as a body politic and corporate and may:
(a) adopt, amend, and repeal rules, policies, and procedures for the regulation of itsaffairs and the conduct of its business;
(b) sue and be sued in its own name;
(c) maintain an office at any place or places within this state it may designate;
(d) adopt, amend, and repeal bylaws and rules, not inconsistent with this part, to carryinto effect the powers and purposes of the authority and the conduct of its business;
(e) purchase, lease, sell, and otherwise dispose of property and rights-of-way;
(f) employ experts and other professionals it considers necessary;
(g) employ and retain independent legal counsel;
(h) make and execute contracts and all other instruments necessary or convenient for theperformance of its duties and the exercise of its duties under this part to operate and maintain ascenic railroad in and around the Heber Valley;
(i) procure insurance for liability and against any loss in connection with its property andother assets in amounts and from insurers it considers desirable;
(j) receive appropriation from the Legislature and receive other public money and acceptaid or contributions from any source of money, property, labor, or other things of value to beheld, used, and applied to carry out the purposes of this part subject to the conditions upon whichthe grants and contributions are made, including, but not limited to, gifts or grants from anydepartment, agency, or instrumentality of the United States or of this state for any purposeconsistent with this part;
(k) enter into agreements with any department, agency, or instrumentality of the UnitedStates or this state for the purpose of providing for the operation and maintenance of a scenicrailway in and around the Heber Valley; and
(l) do any act necessary or convenient to the exercise of the powers granted by this part.
(3) All money received by the authority under Subsection (2)(j) and from any othersource shall be for the exclusive use of the authority to operate, maintain, improve, and providefor a scenic and historic railway in and around the Heber Valley. The money received by theauthority may not be used for any other purpose or by any other entity.
Enacted by Chapter 364, 2010 General Session