Texas § SD.3501.102 - GENERAL POWERS AND DUTIES

§ SD.3501.102. GENERAL POWERS AND DUTIES

GENERAL POWERS AND DUTIES. (a) The authority may accept title, on approval by and in coordination with the governor, from the United States to all or any portion of the base property. (b) The authority may exercise any power necessary or convenient to accomplish a purpose of this chapter, including the power to: (1) sue and be sued, and plead and be impleaded, in its own name; (2) adopt an official seal; (3) adopt and enforce bylaws and rules for the conduct of its affairs; (4) acquire, hold, own, and dispose of its revenue, income, receipts, and money from any source; (5) select its depository; (6) establish its fiscal year; (7) adopt an annual operating budget for all major expenditures before the beginning of the fiscal year; (8) establish a system of accounts for the authority; (9) invest its money in accordance with Chapter 2256 , Government Code; (10) acquire, hold, own, use, rent, lease, or dispose of any property, including a license, patent, right, right-of-way, easement, and other interest in property, by purchase, exchange, gift, assignment, condemnation, lease, sale, or any other means, to perform a duty or to exercise a power under this chapter; (11) manage, operate, or improve that property, to perform a duty or to exercise a power under this chapter; (12) sell, assign, lease, encumber, mortgage, or otherwise dispose of any base property, or any interest in that property, release or relinquish any right, title, claim, lien, interest, easement, or demand, however acquired, and, notwithstanding any other law, conduct any transaction authorized by this subdivision by public or private sale; (13) lease or rent any land, buildings, structures, or facilities located on the base property to any person to accomplish the purposes of this chapter; (14) request and accept any appropriation, grant, allocation, subsidy, guarantee, aid, service, labor, material, gift, or money from any source, including the federal government, the state, a public agency, and a political subdivision; (15) maintain an office; (16) appoint and determine the duties, tenure, qualifications, compensation, and removal of officers, employees, agents, professional advisors, and counselors, including financial consultants, accountants, attorneys, architects, engineers, appraisers, and financing experts, as considered necessary or advisable by the board; (17) borrow money as necessary to acquire, improve, or operate a facility on the base property, not to exceed the amount determined by the board; (18) establish, impose, and collect rents, rates, fees, and charges for its facilities and services; (19) exercise the powers Chapter 380 , Local Government Code, grants to a municipality for expansion of economic development and commercial activity; (20) lend money for a purpose authorized by Section 52-a , Article III, Texas Constitution; (21) authorize by resolution the incorporation of a nonprofit airport facility financing corporation in the manner provided by Subchapter E , Chapter 22 , Transportation Code, for the purposes provided by Section 22.152 (a), Transportation Code; (22) exercise the powers granted to a local government for the financing of facilities to be located on airport property, including powers granted by Chapter 22 , Transportation Code, consistent with the requirements and the purposes of Section 52-a , Article III, Texas Constitution; (23) lease, own, and operate an airport and exercise the powers granted to municipalities and counties by Chapter 22 , Transportation Code; (24) lease, own, and operate port facilities for air, truck, and rail transportation; (25) provide security for port functions, facilities, and operations; (26) cooperate with and participate in programs and critical infrastructure and national security efforts of this state and the United States Department of Defense, the component services and agencies of the United States Department of Defense, the United States Department of Energy, the United States Department of Homeland Security, or another collaborating partner in the public or private sector; (27) participate as a member or partner of a limited liability company, a limited liability partnership, or other entity organized to finance a project designated as a redevelopment project under Section 3501.1024 ; and (28) enter into interagency agreements with Texas Tech University in the manner provided by Chapter 771 , Government Code, as necessary to: (A) facilitate and support Texas Tech University research and development activities on base property; or (B) facilitate the transfer of portions of the base property to Texas Tech University to further a purpose of the authority. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005. Amended by: Acts 2021, 87th Leg., R.S., Ch. 288 (H.B. 4579 ), Sec. 6, eff. September 1, 2021. Acts 2025, 89th Leg., R.S., Ch. 228 (H.B. 5092 ), Sec. 6, eff. September 1, 2025.