Section 2399.5 - Purposes and powers; general(a) An authority created under this subdivision shall be a public body, corporate and politic, exercising public powers of the Commonwealth as an agency and instrumentality and shall be for the purpose, without limitation, by itself or by agreement in cooperation with others, of acquiring, holding, developing, designing, constructing, improving, maintaining, managing, operating, financing, furnishing, fixturing, equipping, repairing, leasing or subleasing, either in the capacity of lessor or lessee or sublessor or sublessee, and owning a convention center, or parts thereof.(b) The authority is granted all powers necessary or convenient for the carrying out of the purposes in subsection (a), including, without limiting the generality of the foregoing, the following rights and powers:(1) To have continuing succession.(2) To sue and be sued, implead and be impleaded, complain and defend in all courts.(3) To adopt, use and alter at will a corporate seal.(4) To acquire by gift or otherwise, purchase, hold, receive, lease, sublease and use a license, franchise or property, real, personal or mixed, tangible or intangible, or any interest therein, including a convention center, or parts thereof.(5) To sell, transfer or dispose of property or an interest therein with adequate and fair consideration.(6) To acquire, hold, develop, design, construct, improve, maintain, manage, operate, furnish, fixture, equip, repair, own, lease or sublease a convention center, or parts thereof, and to make, enter into and award contracts with any person, association, partnership or corporation for the development, design, financing, construction, improvement, maintenance, operation, management, furnishing, fixturing, equipping and repairing of a convention center, or parts thereof.(7) To make bylaws for the management and regulation of its affairs and issue rules, regulations and policies in connection with the performance of its functions and duties.(8) To appoint officers, agents, employes and servants, to prescribe their duties and to fix their compensation.(9) To fix, alter, charge and collect rentals, admissions, license fees and other charges.(10) To borrow money for the purpose of paying the costs of a project and to evidence the same; make and issue negotiable bonds of the authority; secure payment of the bonds, or any part thereof, by pledge or deed of trust of all or any of its revenues (including any hotel room rental tax), rentals, receipts and contract rights; make such agreements with the purchasers or holders of the bonds or with other obligees of the authority in connection with the bonds, whether issued or to be issued, as the authority shall deem advisable, which agreements shall constitute contracts with the holders or purchasers; obtain such credit enhancement or liquidity facilities in connection with the bonds as the authority shall determine to be advantageous; and, in general, provide for the security of the bonds and the rights of the bondholders.(11) To make, enter into and award contracts of every name and nature and to execute all instruments necessary or convenient for the carrying out of its business.(12) To borrow money and accept grants and to enter into contracts, leases, subleases, licenses or other transactions with any Federal agency, State public body, political subdivision, person, association, partnership or corporation.(13) To pledge, hypothecate or otherwise encumber its property, real, personal or mixed, tangible or intangible, and its revenues or receipts, including, but not limited to, any interest the authority may have in a lease or sublease of a convention center, or parts thereof.(14) To procure such insurance containing such coverages, including, without limitation, insurance covering the timely payment in full of principal of and interest on bonds of the authority, in such amounts, from such insurers, as the authority may determine to be necessary or desirable for its purposes.(15) To invest its money.(16) To cooperate with any Federal agency, State public body or political subdivision.(17) To invest funds held in reserve or sinking funds or funds not required for immediate disbursements as authorized by section 2399.13(d) . (18) To appoint all officers, agents and employes required for the performance of its duties and fix and determine their qualifications, duties and compensation and retain or employ other agents or consultants, including, but not limited to, architects, auditors, engineers, private legal counsel and private consultants, on a contract basis or otherwise for rendering professional or technical services and advice.(19) To enroll its employes in an existing retirement system of the State, county, city or other governmental entity.(20) To appoint and fix the compensation of chief counsel and such assistant counsel to provide it with legal assistance, and the authority through its counsel shall defend actions brought against the authority and its officers and employes when acting within the scope of their official duties.(21) To maintain an office in the county seat.(22) To appoint an executive director who shall be the chief executive officer of the authority, who shall devote his full time during business hours to the duties of his office and who shall receive compensation as the board shall determine.(23) To do all acts and things necessary or convenient for the promotion of its purposes and the general welfare of the authority and to carry out the powers granted to it by this subdivision or by any other act.(c)(1) The authority shall have no power to pledge the credit or taxing powers of a State public body, a political subdivision or the county, nor shall its obligations be deemed obligations of any State public body, a political subdivision or the county, nor shall any State public body, a political subdivision or the county be liable for the payment of principal or interest on such obligations.(2) The authority shall have no power of eminent domain.(d) The authority shall develop and implement an affirmative action plan to assure that all persons are accorded equality of opportunity in employment and contracting by the authority, its contractors, subcontractors, assignees, lessees, agents, vendors and suppliers.1955, Aug. 9, P.L. 323, No. 130, § 2399.5, added 1999, Nov. 3, P.L. 461, No. 42, § 3, imd. effective.