16.5 - GENERAL POWERS.
16.5 GENERAL POWERS.
1. The authority has any and all powers necessary and convenient
to carry out its purposes and duties, and exercise its specific
powers, including but not limited to the power to:
a. Issue its negotiable bonds and notes as provided in this
chapter in order to finance its programs.
b. Sue and be sued in its own name.
c. Have and alter a corporate seal.
d. Make and alter bylaws for its management consistent with
the provisions of this chapter.
e. Make and execute agreements, contracts, and other
instruments of any and all types on such terms and conditions as the
authority may find necessary or convenient to the purposes of the
authority, with any public or private entity, including but not
limited to contracts for goods and services. All political
subdivisions, public housing agencies, other public agencies and
state departments and agencies may enter into contracts and otherwise
cooperate with the authority.
f. By rule, adopt procedures relating to competitive bidding,
including the identification of those circumstances under which
competitive bidding by the authority, either formally or informally,
shall be required. In any bidding process, the authority may
administer its own bidding and procurement or may utilize the
services of the department of administrative services or any other
agency. Except when such rules apply, the authority and all
contracts made by it in carrying out its public and essential
governmental functions with respect to any of its programs shall be
exempt from the provisions and requirements of all laws or rules of
the state which require competitive bids in connection with the
letting of such contracts.
g. Acquire, hold, improve, mortgage, lease, and dispose of
real and personal property, including but not limited to the power to
sell at public or private sale, with or without public bidding, any
such property, mortgage loan, or other obligation held by it.
h. Procure insurance against any loss in connection with its
operations and property interests.
i. Fix and collect fees and charges for its services.
j. Subject to an agreement with bondholders or noteholders,
invest or deposit moneys of the authority in a manner determined by
the authority, notwithstanding chapter 12B or 12C.
k. Accept appropriations, gifts, grants, loans, or other aid
from public or private entities. A record of all gifts or grants,
stating the type, amount and donor, shall be clearly set out in the
authority's annual report along with the record of other receipts.
l. Provide technical assistance and counseling related to the
authority's purposes, to public and private entities.
m. In cooperation with other local, state, or federal
governmental agencies, conduct research studies, develop estimates of
unmet housing needs, gather and compile data useful to facilitating
decision making, and enter into agreements to carry out programs
within or without the state which the authority finds to be
consistent with the goals of the authority.
n. Cooperate in the development of and initiate housing
demonstration projects.
o. Contract with architects, engineers, attorneys,
accountants, housing construction and finance experts, and other
advisors. However, the authority may enter into contracts or
agreements for such services with local, state, or federal
governmental agencies.
p. Through the title guaranty division, make and issue title
guaranties on Iowa real property in a form acceptable to the
secondary market, to fix and collect the charges for the guaranties
and to procure reinsurance against any loss in connection with the
guaranties.
q. Own or acquire intellectual property rights including but
not limited to copyrights, trademarks, service marks, and patents,
and enforce the rights of the authority with respect to such
intellectual property rights.
r. Make, alter, and repeal rules consistent with the
provisions of this chapter, and subject to chapter 17A.
s. Establish one or more funds within the state treasury
under the control of the authority and invest moneys of the authority
therein. Notwithstanding section 8.33 or 12C.7, or any other
provision to the contrary, moneys invested by the treasurer of state
pursuant to this subsection shall not revert to the general fund of
the state and interest accrued on the moneys shall be moneys of the
authority and shall not be credited to the general fund. For
purposes of this paragraph, the treasurer of state shall enter into
an agreement with the authority to carry out the provisions of this
paragraph.
t. Select projects to receive assistance by the exercise of
diligence and care and apply customary and acceptable business and
lending standards in the selection and subsequent implementation of
such projects.
u. Exercise generally all powers typically exercised by
private enterprises engaged in business pursuits unless the exercise
of such a power would violate the terms of this chapter or the
Constitution of the State of Iowa.
2. Notwithstanding any other provision of law, any purchase or
lease of real property, other than on a temporary basis, when
necessary in order to implement the programs of the authority,
protect the investments of the authority by means of foreclosure or
other means, or to facilitate the transfer of real property for the
use of low or moderate income families, shall require written notice
from the authority to the government oversight standing committees of
the general assembly and the prior approval of the executive council.
3. The powers enumerated in this section are cumulative of and in
addition to those powers enumerated elsewhere in this chapter and no
such powers limit or restrict any other powers of the authority.
4. Notwithstanding any other provision of law, the authority may
elect whether to utilize any or all of the goods or services
available from other state agencies in the conduct of its affairs.
Departments, boards, commissions, or other agencies of the state
shall provide reasonable assistance and services to the authority
upon the request of the executive director. Section History: Early Form
[C77, 79, 81, § 220.5] Section History: Recent Form
84 Acts, ch 1230, § 2; 85 Acts, ch 252, §28
C93, § 16.5
97 Acts, ch 201, §17; 2004 Acts, ch 1134, §1; 2007 Acts, ch 54,
§19; 2008 Acts, ch 1031, §17; 2009 Acts, ch 41, §19