§ 42-64.14-7. Powers and duties of the commission. The commission shall have all the rights and powers reasonably necessary to carry out and effectuate this chapter, including, but not limited to, the rights and powers:

(1) To sue and be sued, complain and defend, in its corporate name.

(2) To have a seal that may be altered at pleasure and to use the seal by causing it, or a facsimile of the seal, to be impressed or affixed, or in any other manner reproduced.

(3) To purchase, take, receive, lease, or otherwise acquire, own, hold, improve, use, and otherwise deal in and with, real or personal property, or any interest in real or personal property, wherever situated.

(4) To acquire and to dispose of real property, subject to the provisions of this chapter, without the necessity of obtaining the approval of the state properties committee or otherwise complying with the provisions of title 37.

(5) To sell, convey, mortgage, pledge, lease, exchange, transfer, and otherwise dispose of all or any part of its property and assets for any consideration and upon any terms and conditions as the commission shall determine.

(6) To make contracts and guarantees and incur liabilities, borrow money at any rates of interest as the commission may determine.

(7) To make and execute agreements of lease, conditional sales contracts, installment sales contracts, loan agreements, mortgages, construction contracts, operation contracts, and other contracts and instruments necessary or convenient in the exercise of the powers and functions of the commission granted by this chapter.

(8) To invest and reinvest its funds, and at its option to take and hold real and personal property as security for the payment of funds so loaned or invested.

(9) To acquire or contract to acquire, from any person, firm, corporation, municipality, the federal government, or the state, or any agency of either the federal government or the state, by grant, purchase, lease, gift, condemnation, or otherwise, or to obtain options for the acquisition of any property, real or personal, improved or unimproved, and interests in land less than the fee thereof; and to own, hold, clear, improve, develop, and rehabilitate, and to sell, assign, exchange, transfer, convey, lease, mortgage, or otherwise dispose or encumber that property for the purposes of carrying out the provisions and intent of this chapter, for any consideration as the commission shall determine, and with the approval of the commission to retain a master developer for all or any portion of a project. Any master developer position shall be subject to advertising and solicitation of applicants shall be approved at a duly posted public meeting of the commission.

(10) To conduct its activities, carry on its operations, and have offices and exercise the powers granted by this chapter, within the state.

(11) To make and alter bylaws, not inconsistent with this chapter, for the administration and regulation of the affairs of the district in a manner that is publicly accountable and transparent.

(12) To be a promoter, partner, member, associate, or manager of any partnership, enterprise, or venture within the district and to engage in promotional, marketing, and similar activities for the benefit of the district.

(13) To enter into contracts, agreements, and cooperative agreements with the city and its agencies and instrumentalities and the state and its agencies and instrumentalities for the sharing of personnel and other resources.

(14) To have and exercise all powers reasonably necessary to effect its purposes; provided, however, that the commission shall not have any power to create, empower or otherwise establish any corporation, subsidiary corporation, corporate body, any form of partnership, or any other separate entity without the express approval and authorization of the general assembly.

History of Section. (P.L. 2011, ch. 245, § 3; P.L. 2011, ch. 267, § 3; P.L. 2017, ch. 134, § 1; P.L. 2017, ch. 151, § 1.)