Sec. 32-204. Purposes and powers of the authority.
Sec. 32-204. Purposes and powers of the authority. The general purpose of the
authority shall be to stimulate new spending in Connecticut and to encourage the diversification of the state economy through the construction, operation, maintenance and marketing of a conference or exhibition facility that will create new jobs, add to the benefits
of the hospitality industry, broaden the base of the tourism effort and stimulate substantial surrounding economic development and corresponding increased tax revenues to
the state. The primary purpose of the authority shall be to attract and service large
conventions, tradeshows, exhibitions and conferences, preferably those whose attendees
are predominantly from out-of-state; the secondary purpose of the authority, at times
when its primary purpose cannot be fulfilled, shall be to attract and service local consumer shows, exhibitions and events which generate less new spending in Connecticut.
For these purposes, the authority shall have the following powers: (1) To have perpetual
succession as a body corporate and to adopt procedures for the regulation of its affairs
and the conduct of its business as provided in subsection (f) of section 32-203; to adopt
a corporate seal and alter the same at its pleasure; and to maintain an office at such place
or places within the state as it may designate; (2) to sue and be sued; to contract and
be contracted with, provided, if management, operating, or promotional contracts or
agreements or other contracts or agreements are entered into with nongovernmental
parties with respect to property financed with the proceeds of obligations the interest
on which is excluded from gross income for federal income taxation, the board of directors will ensure that such contracts or agreements are in compliance with the covenants
of the authority upon which such tax exclusion is conditioned; (3) to acquire, by gift,
purchase, condemnation or transfer, lands or rights-in-land in connection therewith and
to sell, lease as lessee or as lessor, provided such activity is consistent with all applicable
federal tax covenants of the authority, transfer or dispose of any property or interest
therein acquired by it, at any time; and to receive and accept aid or contributions, from
any source, of money, labor, property or other things of value, to be held, used and
applied to carry out the purposes of sections 32-200 to 32-212, inclusive, subject to the
conditions upon which such grants and contributions are made, including, but not limited
to, gifts or grants from any department, agency or instrumentality of the United States
or this state for any purpose consistent with said sections; (4) to formulate plans for,
acquire, finance and develop, lease, purchase, construct, reconstruct, repair, improve,
expand, extend, operate, maintain and market the project, provided such activities are
consistent with all applicable federal tax covenants of the authority; (5) to fix and revise
from time to time and to charge and collect fees, rents and other charges for the use,
occupancy or operation of the project, and to establish and revise from time to time,
regulations in respect of the use, operation and occupancy of any such project, provided
such regulations are consistent with all applicable federal tax covenants of the authority;
(6) to employ such assistants, agents and other employees as may be necessary or desirable to carry out its purposes and to fix their compensation; to establish and modify
personnel procedures as may be necessary from time to time and to negotiate and enter
into collective bargaining agreements with labor unions; (7) to engage architects, engineers, attorneys, accountants, consultants and such other independent professionals as
may be necessary or desirable to carry out its purposes; to contract for construction,
development, concessions and the procurement of goods and services and to establish
and modify procurement procedures from time to time to implement the foregoing in
accordance with the provisions of subsection (b) of this section; (8) to adopt procedures
with respect to contractors and subcontractors engaged in the construction of the project
which require such contractors or subcontractors (A) to take affirmative action to provide
equal opportunity for employment without discrimination as to race, creed, color, national origin, ancestry, sex, marital status, age, lawful source of income, mental retardation, mental disability or physical disability, including, but not limited to, blindness or
deafness and (B) to ensure that the wages paid on an hourly basis to any mechanic,
laborer or workman employed by such contractor or subcontractor with respect to the
project shall be at a rate equal to the rate customary or prevailing for the same work in
the same trade or occupation in the town and city of Stamford; (9) to engage in and
contract for marketing and promotional activities to attract national, regional and local
conventions, trade shows, exhibitions, banquets and other events in order to maximize
the use of the project and to carry out the purposes of sections 32-200 to 32-212, inclusive; (10) to acquire, lease, hold and dispose of personal property for the purposes set
forth in sections 32-200 to 32-212, inclusive; (11) to procure insurance against any
liability or loss in connection with its property and other assets, in such amounts and
from such insurers as it deems desirable and to procure insurance for employees; (12)
to borrow money and to issue bonds, notes and other obligations of the authority to the
extent permitted under sections 32-200 to 32-212, inclusive, to fund and refund the same
and to provide for the rights of the holders thereof and to secure the same by pledge of
assets, revenues, notes and state contract assistance as provided in said sections and
such state taxes as the authority shall be entitled to receive pursuant to the provisions
of said sections; (13) to invest any funds not needed for immediate use or disbursement
in obligations issued or guaranteed by the United States of America or the state of
Connecticut and in other obligations which are legal investments for savings banks in this
state and in time deposits or certificates of deposit or other similar banking arrangements
secured in such manner as the authority determines; (14) to do anything necessary and
desirable, including executing reimbursement agreements or similar agreements in connection with credit facilities, including, but not limited to, letters of credit or policies of
bond insurance, remarketing agreements and agreements for the purpose of moderating
interest rate fluctuations, to render any bonds to be issued pursuant to sections 32-200
to 32-212, inclusive, more marketable; (15) to do all acts and things necessary or convenient to carry out the purposes of sections 32-200 to 32-212, inclusive, and the powers
expressly granted by said sections.
(P.A. 90-320, S. 5, 14.)