§ 45-37.1-5 - General grant of powers.
SECTION 45-37.1-5
§ 45-37.1-5 General grant of powers.– The corporation has the following powers, together with all powers incidentalor necessary for the performance of those powers:
(1) To have perpetual succession as a public body corporateand agency of the state and to adopt bylaws for the regulation of its affairsand the conduct of its business;
(2) To sue and be sued, plead and be impleaded;
(3) To adopt an official seal and alter the seal at pleasure;
(4) To maintain an office at a place or places that it maydesignate;
(5) To determine the location and character of any project tobe financed under the provisions of this chapter and to acquire, whether bypurchase, exchange, gift, lease, or otherwise, and to construct, reconstruct,improve, maintain, equip, and furnish one or more projects, including all realand personal properties which it may deem necessary in connection therewith,and regardless of whether or not the project or projects shall then be inexistence or shall then be partially or wholly constructed;
(6) Make and execute agreements of lease, conditional salescontracts, installment sales contracts, loan agreements, mortgages,construction contracts, operation contracts, and other contracts andinstruments necessary or convenient in the exercise of the powers and functionsof the corporation granted by this chapter;
(7) To sell, exchange, mortgage, donate, and convey any orall of its properties whenever it finds that action to be in furtherance of thepurposes for which the corporation was established;
(8) To grant options to purchase any of its projects onwhatever terms it may deem advisable, and to grant options to renew any leasesentered into by it in connection with any of its projects on any terms it maydeem advisable;
(9) To issue its bonds and notes for the purpose of carryingout any of its corporate purposes;
(10) As security for the payment of the principal of andinterest on any bonds or notes so issued and any agreements made in connectiontherewith, to mortgage and pledge any or all of its projects or any part orparts of them, whether then owned or thereafter acquired, and to pledge theirrevenues and receipts or from any of them, and to assign or pledge the lease onor financing agreement in connection with any or all of the projects and toassign or pledge the income received by virtue of the lease or financingagreement;
(11) To employ, in its discretion, attorneys, accountants,architectural and engineering consultants, financial consultants, and otheremployees, including an executive director, and agents that it deems necessaryin its judgment and to fix their compensation;
(12) To utilize the services of other governmental agencies,including, without limitation, the services of the department of economicdevelopment;
(13) To accept any gifts or grants or loans of funds orproperty or financial or other aid in any form from the federal government orany agency or instrumentality thereof, or from the state or from any othersource, and to comply, subject to the provisions of this chapter, with theirterms and conditions; and
(14) To do any and all things necessary or convenient tocarry out its purposes and exercise the powers given and granted in thischapter.