§ 10-4 Powers of Authority.

to have a seal and alter the same at pleasure;

to acquire, hold, and dispose of real and personal property for its corporate purposes;

to acquire from the City the whole or any part of the existing market at a purchase price to be agreed upon between the City and the Authority, and to pay such purchase price in cash or in bonds of the Authority at the par value of such bonds;

to establish, construct, erect, acquire, own, repair, remodel, add to, extend, improve, equip, operate and maintain the Market, and to pay the cost of the Market solely from the proceeds of revenue bonds of the Authority or from such proceeds and any grant from the United States of America or any agency or instrumentality thereof;

to make contracts and leases and to execute all instruments necessary or convenient, including contracts or leases with respect to the use of the facilities of the Market, parking facilities, concessions, stalls, or other facilities on such terms and for such of its corporate purposes as the Authority may deem advisable;

to acquire in its own name by purchase, on such terms and conditions and in such manner as it may deem proper, or by condemnation and in accordance with and subject to the provisions of any and all existing laws applicable to the condemnation of property for public use, real property or rights or easements therein or franchises or licenses convenient for its corporate purposes, and to use the same so long as its corporate existence shall continue, and to lease or make contracts with respect to the use of the same or to dispose thereof in any manner it may deem to the best advantage of the Authority; but the Authority shall be under no obligation to accept and pay for any property condemned under this subheading, except from the funds provided under the Authority of this subheading. In any proceedings to condemn, such orders may be made by the court having jurisdiction of the suit, action or proceeding as may be just to the Authority and to the owners of the property to be condemned; and if the Authority shall deem it expedient to establish or construct the Market on any lands, streets, alleys or public places, the title to which shall then be in the City, the City, through its proper officials is hereby authorized to convey title to such lands, streets, alleys, or public places to the Authority upon payment to the City the reasonable value of such lands, such value to be determined by the Authority and by the City Council; such payment to be in cash or in bonds of the Authority at par.

to appoint and dismiss officers, agents and employees including engineering, architectural and construction experts and attorneys, and to fix their compensation;

to borrow money for any of its corporate purposes and to issue negotiable revenue bonds payable solely from earnings of the Market, and to provide for the payment of the same and for the rights of the holders thereof;

to have and exercise jurisdiction, control, possession and supervision of the existing market, or so much thereof as the Authority shall purchase from the City, upon payment of the purchase price of the existing market; and the Authority shall be and is hereby authorized to abandon, remodel or reconstruct the whole or any part of the existing market, or incorporate the existing market or any part thereof into the Market;