Section 11-60-8 Powers of corporations generally; location of projects of corporations.
Section 11-60-8
Powers of corporations generally; location of projects of corporations.
(a) The corporation shall have the following powers together with all powers incidental thereto or necessary for the performance of those hereinafter stated:
(1) To have succession by its corporate name for the period specified in the certificate of incorporation unless sooner dissolved as provided in this chapter;
(2) To sue and be sued and to prosecute and defend civil actions in any court having jurisdiction of the subject matter and of the parties;
(3) To have and to use a corporate seal and to alter the same at pleasure;
(4) To acquire, whether by purchase, construction, exchange, gift, lease, or otherwise to improve, maintain, equip, furnish, own, and operate one or more projects, including all real and personal properties which the board of directors of the corporation may deem necessary in connection therewith, regardless of whether or not any such projects or any part thereof shall then be in existence;
(5) To fix, prescribe, and collect rates, fees, tolls, charges, or rentals for the use of any of its facilities and for services, facilities, and accommodations furnished by it or any of its facilities;
(6) To adopt and enforce rules and regulations relative to the use or occupancy of any of its facilities or services;
(7) To promote, sponsor, and operate tournaments, shows, exhibitions, exhibits, athletic events, and educational, cultural, recreational, amusement and other activities;
(8) To sell, exchange and convey, to contract to sell, exchange, and convey and to grant options to acquire any or all of its properties whenever its board of directors shall find any such action to be in furtherance of the purposes for which the corporation was organized;
(9) To lease to others for a period not to exceed 40 years any or all of its projects or any part thereof, including public accommodation facilities, and to charge and collect rent therefor and to terminate any such lease upon the failure of the lessee to comply with any of the obligations thereof;
(10) To grant privileges, licenses, concessions, or permits for the operation of any of its public accommodation facilities;
(11) To lease land to others for a period not to exceed 40 years or to grant to others privileges, licenses, or permits for the use of land for the construction and operation of public accommodation facilities and to authorize such lessee or grantee to mortgage their interest, rights and properties to finance the construction, enlargement, and improvement of such public accommodation facilities;
(12) To issue its bonds for the purpose of carrying out any of its powers;
(13) To mortgage and pledge any or all of its projects or any part or parts thereof, whether then owned or thereafter acquired, and to pledge the revenues and receipts therefrom or from any thereof as security for the payment of the principal and interest on any bonds so issued and any agreements made in connection therewith;
(14) To assume obligations secured by a lien on or payable out of or secured by a pledge of the revenues and receipts from any or all of its projects or any part thereof that may be acquired, any obligation so assumed to be payable solely out of the revenues and receipts from any or all of its projects or part thereof;
(15) To appoint, employ, contract with, and provide for the compensation of such officers, employees, and agents, including, but without limitation to, engineers, attorneys, architects, construction contractors, management consultants, and fiscal advisors as its business may require;
(16) To provide for such insurance as the board of directors may deem advisable;
(17) To cooperate with the United States of America, any agency or instrumentality thereof, the state, any person or any combination of any of the foregoing;
(18) To enter into a management agreement or agreements with any person for the management of any or all of its projects or part thereof; and
(19) To accept gifts, grants, bequests, and devises.
(b) Any project or projects of the corporation may be located within or without or partially within and partially without the municipality, subject to the following conditions:
(1) No such project or part thereof shall be located more than 30 miles from the corporate limits of the municipality;
(2) No such project or part thereof shall be located within the corporate limits of another city or town in this state;
(3) No such project or part thereof shall be located within the police jurisdiction of another city or town in this state unless the governing body of such other city or town has first adopted a resolution consenting to the location of such project or part thereof in the police jurisdiction of such city or town; and
(4) No such project or part thereof shall be located in a county other than that (or those) in which the municipality (or part thereof) is situated unless the county commission of such other county has first adopted a resolution consenting to the location of such project or part thereof in such county.
(Acts 1967, Ex. Sess., No. 218, p. 264, §8.)