(a) provide parking facilities, including one or more multilevel parking garage facilities, on its properties, acquired at the college and on property in the vicinity of the college leased by the City of Charleston to the State for not less than ninety-nine years under the terms and conditions of an agreement between the city and the board providing for the operation and maintenance of the parking facilities to be constructed on the property;

(b) promulgate regulations concerning the use of the facilities, including regulations requiring those who undertake to park motor vehicles on the properties of the board to utilize the facilities;

(c) to establish and maintain, and revise, whenever necessary, a schedule of rates and charges for the use of the facilities which must be designed to provide not less than the sums required to pay principal and interest of any bonds authorized pursuant to this chapter.