The authority may do any of the following:
- (a) Acquire, own, operate, and lease real and personal property directly related to the operation and maintenance of railroads.
- (b) Acquire property by purchase, lease, or gift.
- (c) Operate railroads.
- (d) Accept grants or loans from state or federal agencies.
- (e) Select a franchisee, which may be a public or private entity, to acquire or operate a rail transportation system within the area of the authority’s jurisdiction.