§ 46-12.8-3 - Additional powers of agency in connection with administration of safe drinking water revolving fund.
SECTION 46-12.8-3
§ 46-12.8-3 Additional powers of agency inconnection with administration of safe drinking water revolving fund. –The agency shall have all powers necessary or convenient to carry out andeffectuate the purposes and provisions of this chapter, including, so far asapt, the general powers of the agency as set forth in chapter 12.2 of thistitle and, without limiting the generality of the foregoing, the powers:
(1) To receive and apply its revenues to the purposes of thischapter without appropriation or allotment by the state or any politicalsubdivision thereof;
(2) To borrow money, issue bonds, notes or other evidences ofindebtedness, and apply the proceeds thereof, as provided in this chapter, andto pledge or assign or create security interests in revenues, funds, and otherproperty of the agency and otherwise as provided in this chapter, to pay orsecure any such bonds, notes or other evidences of indebtedness; and to investany funds held in reserves or in the safe drinking water revolving loan fund orany revenues or funds not required for immediate disbursement, in suchinvestments as may be legal investments for funds of the state;
(3) To obtain insurance and to enter into agreements ofindemnification necessary or convenient to the exercise of powers under thischapter;
(4) To enter into contracts, arrangements and agreements withother persons, and execute and deliver all instruments necessary or convenientto the exercise of its powers under this chapter; such contracts and agreementsmay include without limitation, loan agreements with local governmental unitsand private water companies, operating plans and other agreements contemplatedby this chapter, grant agreements, contracts for financial assistance or otherforms of assistance from the state or the United States, and trust agreementsand other financing agreements and instruments pertaining to any bonds, notesor other evidences of indebtedness issued in accordance with the provisions ofthis chapter;
(5) To provide financial assistance to local governmentalunits and private water companies to finance costs of approved projects, and toacquire and hold local governmental obligations and the obligations of privatewater companies at such prices and in such manner as the agency shall deemadvisable, and sell local governmental obligations and the obligations ofprivate water companies acquired or held by it at prices without relation tocost and in such manner as the agency shall deem advisable, and to secure itsown bonds, notes or other evidences of indebtedness with such obligations, allas provided in this chapter;
(6) To acquire, own, lease as tenant, or hold real, personalor mixed property or any interest therein for its own office; and to improve,rehabilitate, sell, assign, exchange, lease as landlord, mortgage or otherwisedispose of or encumber the property; and
(7) To do all things necessary or convenient or desirable forcarrying out the purpose of this chapter or the powers expressly granted ornecessarily implied by this chapter.