PARRIS N. GLENDENING, Governor

Ch. 10

3-905.

(A) The Authority is granted and has and may exercise all powers necessary for
carrying out the purposes of this subtitle, including but not limited to, the following rights
and powers:

[(a)](1) To have perpetual existence as a corporation;

[(b)](2) To adopt bylaws, rules, regulations, policies, and procedures for the
regulation of its affairs and the conduct of its business;

[(c)] (3) To adopt an official seal and alter the same at pleasure;

[(d)](4) To maintain an office or offices at such place or places as it may
designate;

[(e)] (5) To appoint officers, agents and employees, and to prescribe their duties
and to fix their compensation as set forth in this subtitle;

[(f)] (6) To sue and be sued in its own name;

[(g)](7) To acquire, construct, reconstruct, rehabilitate, improve, maintain,
equip, lease (as lessor or as lessee), repair, and operate projects within or without the
State of Maryland and to establish reasonable rules and regulations relating to any
project;

[(h)](8) To acquire, purchase, hold, lease as lessee, and use any franchise, patent
or license and any property (real, personal or mixed or tangible or intangible), or any
interest therein, necessary or convenient for carrying out the purposes of the Authority;

[(i)] (9) To sell, lease as lessor, transfer, and dispose of any property or interest
therein at any time acquired by it;

[(j)] (10) To acquire, either directly or by or through any person or political
subdivision, by purchase or by gift or devise such lands, structures, property (real or
personal) rights, rights-of-way, franchises, easements and other interests in lands,
including lands lying under water and riparian rights which are located within or without
the State as it may deem necessary or convenient for the construction or operation of a
project, upon such terms and at such prices as may be considered by it to be reasonable
and can be agreed upon by it and the owner thereof, and to take title thereto in the name
of the Authority;

[(k)](11) To borrow money and to issue bonds for the purpose of paying all or any
part of the cost of any one or more projects or for any other corporate purpose of the
Authority; to secure the payment of such borrowing or any part thereof by pledge of or
mortgage or deed of trust on all or any part of its properties or revenues; to combine
projects for financing or operating purposes; to make agreements with or for the benefit
of the purchasers or holders of bonds or with others in connection with the issuance of
any such bonds, whether issued or to be issued, as the Authority may deem advisable; and
in general to provide for the security of such bonds and the rights of the holders thereof;

[(l)] (12) To take and hold title to any project which may be transferred to the
Authority, and to assume jurisdiction-over and provide for the maintenance and operation

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