§ 16-62-5 - General powers.
SECTION 16-62-5
§ 16-62-5 General powers. – The authority shall have all the powers necessary and convenient to carry outand effectuate the purposes and provisions of this chapter, including withoutlimiting the generality of the preceding statement, the power:
(1) To sue and be sued, complain, and defend, in itscorporate name.
(2) To have a seal which may be altered at pleasure, and touse it by causing it, or a facsimile of it, to be impressed or affixed or inany other manner reproduced.
(3) To purchase, take, receive, lease, or otherwise acquire,own, hold, improve, use, and deal in and with, real or personal property, orany interest in it, wherever situated.
(4) To sell, convey, mortgage, pledge, lease, exchange,transfer, and dispose of all or any part of its property and assets for anyconsideration and upon any terms and conditions as the authority shalldetermine.
(5) To make contracts and incur liabilities, and borrow moneyat any rates of interest as the authority may determine.
(6) To make and execute all contracts, agreements, andinstruments necessary or convenient in the exercise of the powers and functionsof the authority granted by this chapter.
(7) To lend money for its purposes, and invest and reinvestits funds.
(8) To conduct its activities, carry on its operations, andhave offices and exercise the powers granted by this chapter, within or withoutthe state.
(9) To elect, appoint, or employ in its discretion officersand agents of the authority, and define their duties and fix their compensation.
(10) To make and alter bylaws, not inconsistent with thischapter, for the administration and regulation of the affairs of the authority,and those bylaws may contain provisions indemnifying any person who is or was adirector, officer, employee, or agent of the authority, in the manner and tothe extent provided in § 7-1.2-814.
(11) To have and exercise all powers necessary or convenientto effect its purposes.