Powers.
Section 7
SEC. 7. Powers.—The Authority shall have the power and responsibiliy: To have perpetual succession under its corporate name until otherwise provided by law; To prescribe its by-laws and institute such amendments thereto as may be found necessary to promote or enhance the business of the Authority; To adopt and use a seal; To sue and be sued in any court; To enter into contracts; To acquire, own, hire, use, operate and dispose of personal property and to acquire, own, use, lease, operate and dispose of real property and interests thereon and to make improvements on such real property including the reclamation of submerged lands within the Port District ; To purchase, hold, alienate, mortgage, pledge, or otherwise dispose of the shares of the capital stock of, or any bond security, or other evidences of indebtedness created by, any other corporation or co-partnership of this or any other country, and while the owner of said stock, to exercise all the rights of ownership, including the right to vote thereon; To exercise the right of eminent domain; To exercise all other powers not contrary to law, which may be necessary or incidental to the effectuation of its authorized purposes or to the exercise of any of the foregoing powers, except the power to levy taxes or assessments, and generally to exercise in connection with property within its control, any and all powers which may be exercised by a natural or juridical person over its property and affairs; To charge fees for issuing permits in amounts sufficient to cover administrative costs involved; To make expenditures in foreign countries, to pay commissions and hire or contract with experts and consultants both foreign and local; To make expenditures for the promotion of the business affairs of the Authority; and Generally, to exercise all the powers of a corporation under the Corporation Law insofar as they are not inconsistent with the provisions of this Act.