The city council hereby finds, determines, recites and declares that it is wise, expedient, necessary and advisable that the Dallas/Ft. Worth Superconducting Super Collider Research Authority, hereinafter referred to in this division as “the authority,” be formed.
(1990 Code, sec. 2-41)
The city council, pursuant to the provisions of House Bill 2085 of the Acts of the 70th Legislature, Regular Session 1987, hereinafter referred to in this division as “the act,” and in conjunction with the governing bodies of the other sponsoring entities, by concurrent ordinance, does hereby establish and create the authority as a separate body politic and corporate and a political subdivision of the state.
(1990 Code, sec. 2-42)
The authority is created to engage in the planning, financing, acquiring, constructing, owning, operating and maintaining of eligible projects necessary or incidental to the location of the super collider facility and neighboring community, to effect the development and diversification of the economy, the elimination of unemployment or underemployment or the development or expansion of commerce in the state.
(1990 Code, sec. 2-43)
The board of directors and their respective offices shall be as set forth on file in the city secretary’s office. The board of directors shall be appointed by concurrent resolutions of the governing bodies of the public entities that have created the authority and shall serve for two-year terms expiring on June 1 of the odd-numbered years. Vacancies in office shall be filled for the unexpired term by the same method as successors are appointed.
(1990 Code, sec. 2-44)
(a) 
The authority shall be a separate body politic and corporate and a political subdivision of the state and may:
(1) 
Sue and be sued.
(2) 
Enter into contracts, leases and agreements with and accept donations, grants and loans from the United States, its departments and agencies, this state, its departments and agencies, counties, municipalities, political subdivisions, and public or private corporations and persons, including those public entities creating the authority.
(3) 
Acquire, convey, grant, loan, pledge, mortgage, grant a security interest in, or otherwise dispose of, any land, easements, roads, bridges, infrastructure improvements, other property or improvements, services or cash, or interest therein that will permit or aid in the accomplishment of the purposes of the act, without the necessity of taking competitive bids.
(4) 
Undertake eligible projects.
(5) 
Make loans to public or private entities to fund eligible projects.
(6) 
Issue bonds to fund eligible projects.
(7) 
Encumber its property, pledge its revenues, and enter into credit agreements, as defined by Vernon’s Ann. Civ. St. art. 717q, to secure its bonds.
(8) 
Adopt bylaws and exercise any other power consistent with the act and this concurrent ordinance creating the authority.
(9) 
Exercise the power of eminent domain to acquire land, easements and property, or interests in land, easements or property, as determined to be necessary by the board of directors for eligible projects, including the power to take the fee title in land condemned.
(10) 
Adopt and enforce reasonable rules to carry out its purposes, to secure and maintain safe, efficient and normal operation and maintenance of the super collider facility and its appurtenant eligible projects, and to regulate privileges on any land, easement, or property interest adjoining the super collider facility site to prevent activities on the adjoining land, easement or property interest which could adversely affect the safe, efficient and normal operation and maintenance of the super collider facility or its appurtenant eligible projects.
(11) 
Exercise any power necessary or useful in connection with an eligible project.
(12) 
Generally perform any and all acts necessary for the full exercise of the powers vested in the authority and shall have the functions, powers, authority, rights, and duties which will permit accomplishment of the purposes for which it was created.
(b) 
In addition, the authority shall have all the rights and powers necessary to accomplish the purposes for which it was created and authorized by the act and other laws of the state.
(1990 Code, sec. 2-45)