Powers and duties

The authority shall have the following powers and duties, in addition to other powers and duties set forth in this part: (1) To have a seal and alter the same at its pleasure; (2) To acquire, hold, and dispose of in its own name by purchase, gift, lease, or exchange, on such terms and conditions and in such manner and by such instrument as it may deem proper, real and personal property of every kind, character, and description, including tenancies in common, located both inside the Hog Hammock community and elsewhere on Greater Sapelo Island, McIntosh County, Georgia. Upon such acquisition by the authority, the said real and personal property shall become public property and shall be entitled to all the rights, privileges, and protection afforded like situated state owned or claimed property. The Governor is empowered and authorized, for and on behalf of the state, to convey to the authority, by deed, title to any real property owned or claimed by the state on Greater Sapelo Island. The authority may not acquire real or personal property by condemnation, eminent domain, but any real or personal property owned or claimed by the authority may be condemned, through the exercise of the power of eminent domain, by the State of Georgia, acting by and through its State Properties Commission; (3) To procure insurance against any loss in connection with its property and other assets; (4) To make contracts and to execute all instruments necessary or convenient, including leases and rental agreements, and other contracts with respect to the use of such real or personal property; (5) To adopt, alter, or repeal its own bylaws, rules, and regulations governing the manner in which its business may be transacted and in which the power granted to it may be enjoyed, as the authority may deem necessary or expedient in facilitating its business; (6) To receive, accept, and utilize gifts, grants, donations, or contributions of money, property, facilities, or services, with or without consideration, from any person, firm, corporation, founda236 12-3-448 tion, or other entity, or from the State of Georgia or any agency, instrumentality, or political subdivision thereof, or from the United States, or any agency or instrumentality thereof; (7) To act as agent for the United States, or any agency or instrumentality thereof, in any matter coming within the purposes or powers of the authority; and (8) To do all things necessary or convenient to carry out the powers expressly given in this part. History. — Code 1981, § 12-3-445, enacted by Ga. L. 1983, p. 623, § 1; Ga. L. 1986, p. 453, § 2. 12-3-446. Authority’s property subject to inventory requirements; conveyances not subject to filing requirements. The definition of real property in paragraph (1) of Code Section 50-16-120 shall include the real property of the authority. However, the definition of real property in paragraph (1) of subsection (a) of Code Section 50-16-122 shall exclude the real property of the authority. History. — Code 1981, § 12-3-446, enacted by Ga. L. 1983, p. 623, § 1. 12-3-447. Authority’s property not subject to adverse possession or prescription. In that the real and personal property of the authority is public property, title by adverse possession or prescription shall not run against the authority or the real and personal property of the authority, and there shall be no application of or ripening or perfection of title by the doctrine of adverse possession or prescription against the authority or against the real and personal property of the authority. History. — Code 1981, § 12-3-447, enacted by Ga. L. 1983, p. 623, § 1; Ga. L. 1984, p. 22, § 12. 12-3-448. Authority members accountable as trustees; financial records required. The members of the authority shall be accountable in all respects as trustees. The authority shall keep suitable and proper books and records of all receipts, income, and expenditures of every kind and shall submit each year to the state auditor for inspection all the authority’s books, together with the proper statement of the authority’s financial 237 12-3-448 CONSERVATION & NATURAL RES. 12-3-452 position, at the close of its fiscal year, which shall be the same as the fiscal year of the State of Georgia. History. — Code 1981, § 12-3-448, enacted by Ga. L. 1983, p. 623, § 1. 12-3-449. Authority and property exempt from taxation, levy and sale, garnishment, and attachment. As the authority will be performing valuable charitable and public functions and purposes in the exercise of the powers conferred upon it, the authority shall be required to pay no taxes or assessments by the state or by any county, municipality, authority, or political subdivision of this state upon any of the real or personal property acquired by it, or upon its activities in the operation or maintenance of any facility maintained or acquired by it, or upon any fees, rentals, or other charges for the use of such property or facilities, or upon any other income received by the authority. The said property, facilities, fees, rentals, charges, and income of the authority is exempt from levy and sale, garnishment, and attachment. History. — Code 1981, § 12-3-449, enacted by Ga. L. 1983, p. 623, § 1.