The authority shall have the power:

(1) To have a seal and alter it at pleasure;

(2) To acquire, hold, and dispose of personal property for its corporate purposes;

(3) To appoint a director and select officers, agents, and employees, including engineering, architectural, and construction experts, and to fix their compensation;

(4) To make contracts and to execute all instruments necessary or convenient, including contracts for construction of projects or contracts with respect to the leasing or use of projects which it causes to be subdivided, erected, or acquired;

(5) To plan, survey, subdivide, improve, administer, construct, erect, acquire, own, repair, remodel, maintain, add to, extend, improve, equip, operate, and manage projects, as defined in Code Section 2-3-1, to be located on property owned or leased by the authority; the cost of any such project shall be paid from its income, from any grant from the United States government or any agency or instrumentality thereof or from this state;

(6) To accept loans or grants, or both, of money, materials, or property of any kind from the United States government or any agency or instrumentality thereof, upon such terms and conditions as the United States government or such agency or instrumentality may impose;

(7) To exercise any power usually possessed by private corporations performing similar functions which is not in conflict with the Constitution and laws of this state;

(8) To do all things necessary or convenient to carry out the powers expressly given in this article;

(9) To act as agent for the United States government or any agency, department, corporation, or instrumentality thereof in any manner within the purposes or powers of the authority;

(10) To adopt, alter, or repeal its own bylaws, rules, and regulations governing the manner in which its business may be transacted and in which the power granted to it may be enjoyed, as the authority may deem necessary or expedient in facilitating its business;

(11) To do any and all other acts and things authorized or required to be done by this article, whether or not included in the general powers mentioned in this Code section;

(12) To receive gifts, donations, or contributions from any person, firm, or corporation or from any county, municipal, or local governing body;

(13) To hold, use, administer, and expend such sum or sums as may hereafter be received as income or gifts or as may be appropriated by authority of the General Assembly for any of the purposes of this authority;

(14) To acquire, lease as lessee, purchase, hold, own, and use any franchise or real or personal property, whether tangible or intangible, or any interest therein and, whenever the same is no longer required for purposes of the authority, to sell, lease as lessor, transfer, or dispose thereof or to exchange the same for other property or rights which are useful for its purposes;

(15) To fix, alter, charge, and collect fares, rates, rentals, and other charges for its facilities and for admission to the museum at reasonable rates to be determined exclusively by the authority;

(16) To invest and reinvest any or all idle funds or moneys, including, but not limited to, contributions, gifts, or grants, which cannot be immediately used for the purpose for which received in any security or securities which are legal investments for executors or trustees, provided that such investments in such securities will, at all times, be held for and, when sold, used for the purposes for which the money was originally received; and

(17) To take or damage by condemnation property in Tift County, whether the property is held privately or held by a private or public service corporation, for the public purposes of the authority, upon paying or tendering to the owner thereof just and adequate compensation. Condemnation proceedings by the authority shall take the form provided in Chapter 1 of Title 22 and Articles 1 and 2 of Chapter 2 of Title 22 or the form provided in Article 3 of Chapter 2 of Title 22. The method used shall be the one which, in the opinion of the authority, will result in a quick and effective adjudication of the just and adequate compensation to be paid to the owner or owners of the property taken.