Section 697.6 - Purposes and powers(a) General powers.--The authority is created for the purpose of acquiring, holding, developing, designing, constructing, improving, maintaining, managing, operating, financing, furnishing, fixturing, equipping, repairing, leasing or subleasing, as either lessor or lessee or sublessor or sublessee, and owning port facilities, port-related projects, or parts thereof, and equipment within the port district; and assuming under, and to the extent of, the terms and conditions of an agreement between the authority and the Philadelphia Port Corporation the functions, rights, powers, duties and obligations now or heretofore exercised by the Philadelphia Port Corporation.(b) Specific powers.--The authority is granted and shall have and may exercise all powers necessary or convenient for performing or carrying out the aforesaid purposes, including, without limiting the generality of such purposes, the following rights and powers:(1) To have perpetual existence and continuing succession.(2) To sue and be sued, implead and be impleaded, complain and defend in all courts; to petition the Interstate Commerce Commission or any other regulatory body, either state or Federal; and to join in any proceeding before any such court or such commission or other regulatory body in any matter affecting the operation of the authority, any port-related project of the authority, or port facility of the authority.(3) To adopt and use and alter at will a corporate seal.(4) To establish a principal office within the port district and such other office or offices as may be necessary for the purpose of performing its duties and functions.(5) To acquire, by gift or otherwise, purchase, hold, receive, lease, sublease and use any franchise, license, property, real, personal or mixed, tangible or intangible, or any interest therein, necessary or desirable for carrying out the purposes of the authority.(6) To sell, transfer, convey and dispose of any property, real, personal or mixed, tangible or intangible, or any interest therein, at any time acquired by the authority.(7) To acquire by purchase, lease or otherwise, and to construct, improve, maintain, repair and operate, port facilities and port-related projects.(8) To make, enter into and award contracts with any person, association, partnership or corporation for the development, design, financing, construction, improvement, maintenance, operation, management, furnishing, fixturing, equipping and repair of port facilities and port-related projects, or parts thereof.(9) To make and, from time to time, amend and repeal bylaws, rules, regulations and resolutions for the management and regulation of the affairs of the authority and the performance of the functions and duties of the authority.(10) To appoint officers, agents, employees and servants, and to prescribe their duties and fix their compensation, provided that the appointment of a full-time Executive Director shall be made by a qualified majority vote of the board.(11) To borrow money, make and issue negotiable notes, bonds, refunding bonds and other evidences of indebtedness or obligations of the authority and to secure the payment of such bonds, or any part thereof, by pledge or deed of trust of all or any of its revenues, rentals and receipts, and to make such agreements with the purchasers or holders of such bonds or with others in connection with any such bonds, whether issued or to be issued, as the authority shall deem advisable and, in general, to provide for the security for said bonds and the rights of the holders thereof.(12) To make and execute contracts and other instruments necessary or convenient for the conduct of its business and the exercise of the powers of the authority.(13) To apply for and to accept appropriations, grants, loans and other assistance from, and to enter into contracts, agreements, leases, subleases, licenses or other transactions with the Federal Government, the Commonwealth, political subdivisions, persons, associations, partnerships or corporations for any of the purposes of the authority, provided that such contracts or agreements do not conflict with any of the provisions of any trust agreement securing the payment of bonds or certificates of the authority.(14) To pledge, hypothecate or otherwise encumber all or any of the revenues or receipts of the authority as security for all or any of the obligations of the authority.(15) To provide for self-insurance or to procure from insurers insurance containing coverages which the authority may determine to be necessary or desirable for its purposes, including, without limitation, insurance covering the property or operation of the authority against any risks or hazards and the timely payment in full of principal of and interest on bonds of the authority.(16)(i) To enter into contracts of group insurance for the benefit of its employees.(ii) To enroll its employees in the Commonwealth retirement system established pursuant to 71 Pa.C.S. Part XXV (relating to retirement for State employees and officers). Any employee of the authority who was previously employed by the predecessor Philadelphia Port Corporation shall have the option, within the limits specified in 71 Pa.C.S. Part XXV, to retain membership in the prior retirement system or transfer to the new retirement system.(17) To enter into contracts with the Commonwealth, its agencies and instrumentalities, municipalities, political subdivisions or corporations, on such terms as the authority shall deem proper for the use of any port facility, port-related project or property of the authority, and fixing the amount to be paid therefor.(18) To have and exercise the power of eminent domain within the port zone in the manner prescribed by the act of June 22, 1964 (Sp.Sess., P.L. 84, No. 6) known as the Eminent Domain Code, including the taking of property of a utility not necessary or useful to the primary function of the utility.(19) To enter into agreements with any public utility or private entity operating a railroad or any other transportation facility wholly or partially within the port district for the joint or exclusive use of any property of the authority or the public utility or the establishment of routes over the rights-of-way of the public utility or the authority or the establishment of joint rights.(20) To establish an executive committee and such other standing and special committees that are deemed necessary in the furtherance of authority business.(21) To do all acts and things necessary for the promotion of its business, and the general welfare of the authority to carry out the powers granted to it by this act or any other statute.(22) To fix, alter, charge and collect fees, rates, rentals and other charges for port facilities and port-related projects of the authority at reasonable rates to be determined exclusively by the authority, subject to appeal, for the purpose of providing for the payment of the expenses of the authority, the acquisition, construction, improvement, repair, maintenance and operation of the port facilities, port-related projects and properties of the authority, the payment of the principal and interest on obligations of the authority, and to comply fully with the terms and provisions of any agreements made with the purchasers or holders of any such obligations. The authority shall determine by itself exclusively the port and port-related projects facilities to be operated by it and the services to be available to the public.(23) To establish carrier routes and services between port facilities and port terminals, including water routes and water services, as it deems necessary for the efficient operation of port facilities, provided, that the authority shall not engage in the transportation of property by motor vehicle from port facilities or port terminals to other points within this Commonwealth or the port district without the approval of the Pennsylvania Public Utility Commission or in violation of the regulations of the Pennsylvania Public Utility Commission.(c) Prohibition.--Notwithstanding any general or specific powers granted to the authority or the board by this act, whether express or implied: (1) The authority shall have no power, at any time or in any manner, to pledge the credit or taxing power of the Commonwealth or any political subdivision.(2) The authority shall have no power, at any time or in any manner, to issue negotiable notes, bonds, refunding bonds and other evidences of indebtedness or obligations of the authority without the prior approval and written consent of the Governor.(3) No obligations of the authority shall be deemed to be obligations of the Commonwealth or of any of its political subdivisions.(4) The Commonwealth or any political subdivision thereof shall not be liable for the payment of principal or interest on obligations of the authority, excluding payments for lease agreements regarding the property of the authority.(5) The authority shall be deemed an independent agency for the purposes of and within the meaning of the act of October 15, 1980 (P.L. 950, No. 164), known as the Commonwealth Attorneys Act, and shall not exercise any power or authority under this act which is inconsistent therewith.(6) A comptroller shall be appointed in accordance with the provisions of section 214 of the act of April 9, 1929 (P.L. 177, No. 175), known as The Administrative Code of 1929.1989, July 10, P.L. 291, No. 50, § 6, imd. effective.