Section 40-1124 - General powers of an authorityA metropolitan public transit authority may:
2. Adopt a corporate seal.3. Take by grant, purchase, bequest, devise, or lease, and hold, enjoy, lease, sell, encumber, or otherwise dispose of real property or personal property of every kind within the purview of authority.4. Make contracts and enter into stipulations of any nature whatsoever, including without limitations the generality of such contracts and stipulations to indemnify and save harmless, and to do all acts necessary and convenient for the full exercise of the powers granted in this article and may contract with any department or agency of the United States or the state of Arizona or with any public agency or private person, firm or corporation upon such terms and conditions as the board of directors may determine in the best interests of the authority.5. Insure against any accident to or destruction of the system or any part thereof, and against loss of revenues from any cause whatsoever against public liability or property damage, or both, or against all other types of events, acts or omissions.6. Provide a public transportation system using the roadways of the areas served by the authority for the transportation of passengers and their incidental baggage.7. Acquire, contract for, lease, construct, own, operate, control or use rights of way, facilities and works for monorails, bus lines, stations, platforms, yards, terminals, parking lots and any and all other facilities necessary or convenient for public transportation service within or partly within the boundaries of the authority, whether underground, upon, or above the ground, and under, upon, or over public streets, highways, bridges, viaducts, or other public ways or waterways, together with all physical structures necessary or convenient for access for persons or vehicles thereto, and to acquire or contract for any interest in or rights to the use or joint use with a municipality or another authority of any or all of the foregoing, provided that installations in streets of a municipality or county or on the state highways or freeways shall be subject to approval of the state highway commission or governing body of the municipality or county. It shall be presumed that the use of the streets, highways, freeways and other public places by the authority for any purposes permitted under this article constitutes no greater burden on the adjoining properties than the uses existing as of the effective date of this article. If the facilities, other than state highways or freeways including streets, highways, lines, sewers, water mains, storm drains, poles, communications wires, of another public agency, of the state, or of a private owner must necessarily be relocated, replaced, or altered in order for the authority to construct or operate its system, or if the construction or operation by the authority of its system makes necessary the relocation, replacement or alteration of any such facilities of another public agency, of the state, or of a private owner in order to maintain the functioning of such facilities at their previous level of service, such facilities shall be relocated, replaced or altered within reasonable promptness by the respective public corporation, state or private owner, and the authority shall by prior agreement reimburse such public corporation, state or private owner for the actual cost necessarily incurred in such relocation, replacement or alteration. The authority may enter into an agreement with any city or county having jurisdiction over the street or highway involved, and, as may be provided in such an agreement, may close any such street or county highway at or near the point of its inception with any facility of the authority or may make provision for carrying such city street or county highway over or under or to a connection with such facility of the authority and may do any and all work on such city street, or county highway as is necessary. No city street or county highway shall be closed, either directly or indirectly, by construction of facilities of the authority except pursuant to such an agreement, or temporarily while necessary during the construction of such facilities.8. Operate such feeder bus lines and other feeder services as necessary.9. Collect revenues and monies of a public nature or from other sources as provided for in this article.10. Borrow money and issue bonds.