The Authority shall have the following powers together with all powers incidental thereto or necessary for the performance of those hereinafter stated:\n1. To sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;\n2. To adopt and use a corporate seal and to alter the same at pleasure;\n3. To contract and be contracted with;\n4. To employ and pay compensation to such employees and agents, including attorneys, as the board deems necessary in carrying on the business of the Authority;\n5. To establish bylaws and make all rules and regulations, not inconsistent with the provisions of this chapter, deemed expedient for the management of the Authority's affairs;\n6. To borrow money and to accept contributions, grants, and other financial assistance from the United States government and agencies or instrumentalities thereof; the Commonwealth, or any political subdivision, agency, or public instrumentality of the Commonwealth; or any private person, foundation, or financial institution;\n7. To issue bonds in accordance with applicable law;\n8. ny political subdivision, agency, or public instrumentality of the Commonwealth; or any private person, foundation, or financial institution;\n7. To issue bonds in accordance with applicable law;\n8. To receive and expend moneys on behalf of tourist train development; and\n9. To cooperate with any private or governmental entities in the states of West Virginia, Kentucky, Tennessee, or North Carolina in the development of a tourist train and theme park.\n2017, c. 834.
Virginia Legal Code