§ 45-38.1-5. General grant of powers. The corporation has the following powers, together with all powers incidental or necessary for the performance of the following:

(1) To have perpetual succession as a public body corporate and agency of the state and to adopt bylaws for the regulation of its affairs and the conduct of its business;

(2) To adopt an official seal and alter the seal at pleasure;

(3) To maintain an office at a place or places that it may designate;

(4) To sue and be sued, plead and be impleaded;

(5) To determine the location and character of any project to be financed under the provisions of this chapter, and to construct, reconstruct, renovate, replace, maintain, repair, operate, lease, as lessee or lessor, and regulate the project to pay its costs, to enter into contracts for any or all of those purposes, to enter into contracts for the management and operation of a project, and to designate a participating educational institution or child day care center, or a participating health care provider as its agent to determine the location and character of a project undertaken by the participating educational institution or child day care center, or by a participating health care provider under the provisions of this chapter, and as the agent of the corporation, to acquire, construct, reconstruct, renovate, replace, maintain, repair, operate, lease, as lessee or lessor, and regulate the project, and, as the agent of the corporation, to enter into contracts for any or all of those purposes, including contracts for the management and operation of the project;

(6) To issue bonds, notes, bond anticipation notes, revenue anticipation notes, capital notes, and other obligations of the corporation including, but not limited to, interest rate exchange agreements and contracts to hedge interest rates, for any of its corporate purposes, and to fund or refund the bonds, all as provided in this chapter;

(7) Generally, to fix and revise from time to time and charge and collect rates, rents, fees, and charges for the use of and for the services furnished or to be furnished by a project or any portion of it, and to contract with any person, partnership, association, or corporation or other body public or private in respect to the project;

(8) To establish rules and regulations for the use of a project or any portion of it and to designate a participating educational institution or child day care center, or a participating health care provider as its agent to establish rules and regulations for the use of a project undertaken by the participating educational institution or child day care center or by the participating health care provider;

(9) Employ consulting engineers, architects, attorneys, accountants, construction and financial experts, superintendents, managers, and other employees and agents as may be necessary in its judgment, and to fix their compensation;

(10) To receive and accept from any public agency, loans or grants for or in aid of the construction of a project or any portion of it, and to receive and accept loans, grants, aid, or contributions from any source of either money, property, labor, or other things of value, to be held, used, and applied only for the purposes for which those loans, grants, aid, and contributions are made;

(11) To mortgage any project, and the site of the project, for the benefit of the holders of bonds issued to finance the project;

(12) To make loans to any participating educational institution or child day care center and to any participating health care provider for the cost of a project in accordance with an agreement, and any other security instrument required by the corporation between the corporation and the participating educational institution or child day care center or the participating health care provider; provided, that no loan exceeds the total cost of the projects as determined by the participating educational institution or child day care center or the participating hospital, and approved by the corporation;

(13) To make loans to a participating educational institution or child day care center or to a participating health care provider to refund outstanding obligations, mortgages, or advances issued, made or given by the participating educational institution or child day care center or the participating health care provider for the cost of a project;

(14) To charge to and equitably apportion, among participating educational institution or child day care center and participating health care provider, its administrative costs and expenses incurred in the exercise of the powers and duties conferred by this chapter;

(15) To accept any gifts or grants or loans of funds or property or financial or other aid in any form from the federal government or any agency or instrumentality of the federal government, or from the state or any agency or instrumentality of the state, or from any other source and to comply, subject to the provisions of this chapter, with the terms and conditions of the gifts, grants, or loans;

(16) To do all things necessary or convenient to carry out the purposes of this chapter. In carrying out the purposes of this chapter, the corporation may undertake a project for two (2) or more participating health care providers jointly, or for any combination of providers, and, thereupon, all other provisions of this chapter shall apply to and for the benefit of the corporation and those joint participants;

(17) To enter into contracts for the purpose of guaranteeing or insuring loans to any participating educational institution or child day care center or to any participating health care provider to carry out the purposes of the corporation, and to pledge, encumber, or advance funds of the corporation in connection with the loans; and

(18) To make and effectuate gifts or grants of corporation funds for or in aid of the construction of or development of any project or any portion of a project or in furtherance of the policies, purposes, and powers of the corporation set forth in this chapter, and to retain or appoint any agents or consultants deemed necessary or desirable by the corporation to effectuate, make, and administer the gifts or grants.

History of Section. (P.L. 1967, ch. 56, § 1; P.L. 1968, ch. 224, § 2; P.L. 1989, ch. 480, § 11; P.L. 1991, ch. 292, § 1; P.L. 1992, ch. 221, § 1; P.L. 2000, ch. 184, § 1.)