Subject to the terms of the original agreement under section 4 of this chapter, an authority may do the following:

1. (1) Adopt, amend, and repeal bylaws for the conduct of the authority's business.
2. (2) Accept gifts and grants.
3. (3) Enter into contracts.
4. (4) Sue and be sued.
5. (5) Acquire, own, sell, convey, lease, or transfer property.
6. (6) Cooperate with a public or private organization to carry out the purposes of the authority.

As added by P.L.223-1991, SEC.1.