The authority has all of the following powers:
(a) To acquire, own, operate, and lease real and personal property reasonably related to the operation and maintenance of railroads.
(b) To issue revenue bonds pursuant to Section 93024 for any purpose of the authority.
(c) To acquire property by purchase, lease, gift, or through exercise of the power of eminent domain.
(d) To operate railroads, including those outside its boundaries in order to connect its lines with the lines of another railroad corporation.
(e) To accept grants or loans from state or federal agencies.
(f) To 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.