(b) The authority’s powers include, but are not limited to, the power to do all of the following:

1. (1) To sue and to be sued.
2. (2) To acquire any property by any means, and to hold, manage, occupy, develop, jointly develop, dispose of, lease, convey, or otherwise encumber property.
3. (3) To create a leasehold interest in property for the benefit of the authority.
4. (4) To acquire, by eminent domain, any property necessary to carry out any of its powers or functions.
5. (5) To merge or split parcels, adjust boundary lines, or take similar actions as part of the acquisition of land or as needed in order to carry out its functions.
6. (6) To construct, acquire, develop, jointly develop, maintain, operate, lease, and dispose of work, property, rights-of-way, and facilities.
7. (7) To appoint necessary employees, including counsel, and to define their qualifications and duties.
8. (8) To enter into and perform all necessary contracts.
9. (9) To fix and collect fees for any services rendered by it.
10. (10) To adopt a seal and alter it.
11. (11) To adopt an annual budget and to fix the compensation of its officers, board members, and employees.
12. (12) To establish and enforce rules and regulations for the administration, operation, and maintenance of facilities and services.
13. (13) To enter into joint powers arrangements with other entities.
14. (14) To provide insurance.
15. (15) To issue bonds and incur other obligations.
16. (16) To advance funds from any sources towards a project in anticipation of future funding sources or contributions from other agencies in order to maximize the efficient delivery of projects undertaken by the authority.

17. (17) To loan moneys from any of the funds or accounts held by the authority to any other fund or account held by the authority, if all of the following occur:

    1. (A) The loan is authorized pursuant to a resolution of the governing board of the authority.
    2. (B) The authority determines that the loan serves the purposes of the authority.
    3. (C) All moneys loaned to the borrowing fund or account are expended for any of the lawful purposes for which the borrowing account was established.
18. (18) To do any other things necessary or desirable to carry out the purposes of a county transportation commission, a local transportation authority, a service authority for freeway emergencies, or a local congestion management agency.