§2555. Purposes and powers of board.

(a) Status and purposes.--Every board created under this chapter shall be a body corporate and politic and shall be for the purpose of acquiring, holding, constructing, improving, maintaining and operating, owning or leasing, either in the capacity of lessor or lessee, for any government function of two or more municipalities.

(b) Powers and duties.--The board shall have and may exercise all powers necessary or convenient for the carrying out of the purposes under subsection (a), including the following powers and duties:

(1) Sue and be sued.

(2) Adopt, use and alter at will a seal of the board.

(3) Acquire, purchase, hold, lease as lessee and use any franchise, property, real, personal or mixed, tangible or intangible, or any interest therein necessary or desirable for carrying out the purposes of the board, and sell, lease as lessor, transfer and dispose of any property or interest acquired by it.

(4) Acquire by purchase, lease or otherwise and construct, improve, maintain, repair and operate projects.

(5) Make bylaws for the management and regulation of its affairs.

(6) Appoint officers, agents, employees and servants, prescribe their duties and fix their compensation.

(7) Fix and collect taxes not to exceed two mills of real estate within the municipalities involved and charge and collect rates and other charges in the area served by its facilities, at reasonable and uniform rates to be determined by it, for the purpose of providing for the payment of the expenses of the board, the construction, improvement, repair, maintenance and operation of its facilities and properties and the payment of the principal and interest on its obligations and to fulfill the terms of any agreements made with the holders of any such obligations or with municipalities served or to be served by the board. Any person questioning the reasonableness or uniformity of any rate fixed by the board or the adequacy, safety and reasonableness of the board's services may bring suit against the board in the court of common pleas of the county where the project is located. If the project is located in more than one county, the suit may be brought in the court of common pleas of the county where the principal office of the project is located.

(8) Borrow money and make and issue negotiable notes, bonds, refunding bonds and other evidences of indebtedness or obligations of the board. These instruments shall have a maturity date not longer than 30 years from the date of issue, except that no refunding bonds shall have a maturity date later than the life of the board. The board may secure the payment of the instruments or any part of them by pledge or deed of trust of all or any of its revenues and receipts and make agreements with the holders of these instruments, or with others in connection with these instruments, whether issued or to be issued, as the board deems advisable. The board shall provide for the security for these instruments and the rights of the holders of them, and in respect to any project constructed and operated under agreement with any board or any public authority of any adjoining state, and may borrow money and issue notes, bonds and other evidences of indebtedness and obligations jointly with any authority.

(9) Make contracts and execute all instruments necessary or convenient for the carrying on of its powers and duties.

(10) Without limitation of the foregoing, borrow money and accept grants from and enter into contracts, leases or other transactions with any Federal agency or Commonwealth municipality, school district, corporation or authority.

(11) Have the power of eminent domain, with the consent of the county commissioners of the county where the land is located and with the consent of council in cities of the first class.

(12) Pledge, hypothecate or otherwise encumber all or any of the revenues or receipts of the board as security for the obligations of the board.

(13) Do all acts and things necessary or convenient for the promotion of its business and the general welfare of the board in order to carry out the powers granted to it by this chapter or any other statutes.

(14) Enter into contracts of group insurance for the benefit of its employees and set up a retirement or pension fund for employees.