§ 1199-eee. Powers of the authority. Except as otherwise limited by\nthis title, the authority shall have the power:\n 1. To sue and be sued;\n 2. To have a seal and alter the same at pleasure;\n 3. To borrow money and issue negotiable or non-negotiable notes,\nbonds, or other obligations and to provide for the rights of the holders\nthereof;\n 4. To enter into contracts and execute all instruments necessary or\nconvenient or desirable for the purposes of the authority to carry out\nany powers expressly given it in this title;\n 5. To acquire, by purchase, gift, grant, transfer, contract or lease\nor by condemnation pursuant to the eminent domain procedure law within\nthe district, lease as lessee, hold and use and to sell, lease as\nlessor, transfer or otherwise dispose of, any real or personal property\nor any interest therein, within or without the district, as the\nauthority may deem necessary, convenient or desirable to carry out the\npurpose of this title and to pay the costs thereof; provided, however,\nthat the authority may not condemn real property of a municipality\nwithout the consent of the governing body of such municipality.\nProvided, however, notwithstanding any provision of the eminent domain\nprocedure law to the contrary, in any proceeding brought by the\nauthority to condemn real property pursuant to such law, title shall\nvest in the authority and compensation shall be paid only upon (a) a\ndecision by the supreme court that compensation for the real property\ncondemned shall be determined solely by the income capitalization method\nof valuation based on the actual net income as allowed by the public\nservice commission, and (b) such supreme court's determination that the\namount of such compensation shall be based on the income capitalization\nmethod, entry of a final judgment, the filing of the final decree and\nthe conclusion of any appeal or the expiration of the time to file an\nappeal related to the condemnation proceeding. If any court shall\nutilize any method of compensation other than the income capitalization\nmethod, or if the proposed compensation is more than the rate base of\nthe assets taken in condemnation, as utilized by the public service\ncommission in setting rates and as certified by such commission, then\nthe authority may withdraw the condemnation proceeding without prejudice\nor costs to any party;\n 6. To purchase, in the name of the authority, any water facility,\nincluding plants, works, instrumentalities or parts thereof and\nappurtenances thereto, lands, easements, rights in land and water\nrights, rights-of-way, contract rights, franchises, permits, approaches,\nconnections, dams, wells, pumps, reservoirs, water mains and pipe lines,\npumping stations, treatment facilities, meters, equipment and inventory,\nor any other property incidental to and included in such system or part\nthereof, and any improvements, extensions and betterments, situated\nwholly within the district and to pay the costs thereof; provided,\nhowever, that the authority shall have the power to purchase any source\nof supply, supply facility, water supply system, or transmission\nfacility or any part thereof situated wholly or partly without the\nterritorial limits of the district, provided the same shall be necessary\nin order to supply water within the district; and in connection with the\npurchase of such properties the authority may assume any obligations of\nthe owner of such properties, and, to the extent required by the terms\nof any indentures or other instruments under which such obligations were\nissued, the authority may assume and agree to perform covenants and\nobserve the restrictions contained in such instruments; and furthermore\nthe owner of any properties, which the authority is authorized to\nacquire, is hereby authorized to sell or otherwise transfer the same to\nthe authority, whereupon the authority shall become charged with the\nperformance thereof, and as a means of so acqui
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