(a) For the acquiring of property, including rights-of-way, necessary or desirable for the carrying out of the powers of an industrial development authority and for the accomplishment of the purposes of this chapter, an industrial development authority may acquire property by gift, by purchase, by negotiation, or by condemnation.
(b) If an industrial development authority determines to exercise the right of eminent domain, the right of eminent domain may be exercised in the manner provided for taking private property for railroads as provided by §§ 18-15-1202 — 18-15-1207, in the manner provided by §§ 18-15-301 — 18-15-307, or in the manner provided by any other statutes enacted for the exercise of the power of eminent domain by the state, or by any officers, departments, agencies, or political subdivisions of the state.
(c) An industrial development authority may exchange any property acquired under this chapter for other property necessary or desirable in carrying out of the powers of an industrial development authority.