A. The Authority shall have the power to:
1. Adopt a seal for its official use;
2. Contract;
3. Own property;
4. Accept gifts and donations;
5. Invest funds under its control; and 6. Such other powers as are not inconsistent with the duties and responsibilities imposed upon the Authority. B. The Authority shall not have the power to:
1. Acquire property through the use of eminent domain;
2. Become indebted in any manner; or 3. Take any action in derogation of the rights, whether based on contract or otherwise, established pursuant to any agreements entered into between private entities, between public entities or by one or more private and one or more public entities.