The authority may do any of the following:

1. (1) Conduct engineering and other studies related to the selection and acquisition of rights-of-way and the selection of a franchisee, including, but not limited to, environmental impact studies, socioeconomic impact studies, and financial feasibility studies.
2. (2) Evaluate alternative high-speed rail technologies, systems and operators, and select an appropriate high-speed rail system.
3. (3) Establish criteria for the award of a franchise.
4. (4) Accept grants, fees, and allocations from the state, from political subdivisions of the state or from the federal government, foreign governments, and private sources.
5. (5) Select a proposed franchisee, a proposed route, and proposed terminal sites.
6. (6) Enter into contracts with public and private entities for the preparation of the plan.
7. (7) Prepare a detailed financing plan, including any necessary taxes, fees, or bonds to pay for the construction of the high-speed train network.
8. (8) Develop a proposed high-speed rail financial plan, including necessary taxes, bonds, or both, or other indebtedness, and submit the plan to the Legislature and to the Governor.
9. (9) Keep the public informed of its activities.