(a) An authority has all the powers necessary or convenient to carry out the purposes of this chapter (excluding the power to levy and collect taxes or special assessments) including, but not limited to, the power to:

(1)

(A) Sue and be sued;

(B) Have a seal;

(C) Have perpetual succession; and

(D) Have such immunity in tort cases as do municipalities under the Municipal Airport Act, compiled in chapter 5 of this title;

(2) Execute such contracts and other instruments and take such other action as may be necessary or convenient to carry out the purposes of this chapter;

(3) Plan, establish, develop, construct, enlarge, improve, maintain, equip, operate, regulate, and protect airports and air navigation facilities, within this state and within any adjoining state, including the acquisition, construction, installation, equipment, maintenance, and operation of such airports or buildings and other facilities for the servicing of aircraft or for the comfort and accommodation of air travelers, and the purchase and sale of supplies, goods, and commodities as are incident to the operation of its airport properties. For such purposes, an authority may, by purchase, gift, devise, lease, eminent domain proceedings or otherwise, acquire property, real or personal, or any interest in property, including avigation easements and easements in airport hazards or land outside the boundaries of an airport or airport site, as are necessary to permit the removal, elimination, obstruction-marking, or obstruction-lighting of airport hazards or to prevent the establishment of airport hazards;

(4) Acquire by purchase, gift, devise, lease, eminent domain proceedings or otherwise, existing airports and air navigation facilities; provided, that an authority shall not acquire or take over any airport or air navigation facility owned or controlled by another authority, a municipality, or public agency of this or any other state without the consent of that authority, municipality, or public agency; and

(5) Establish or acquire and maintain airports in, over, and upon any public waters of this state or any submerged lands under public waters; and construct and maintain terminal buildings, landing floats, causeways, roadways, and bridges for approaches to or connecting with any such airport, and landing floats and breakwaters for the protection of such structures.

(b) Any authority that is operated by a board of commissioners whose membership is appointed by the legislative bodies of five (5) or more local governments has the power to promulgate, adopt, and enforce such motor vehicle traffic regulations for airport authority property as may be necessary to provide for the public safety.