(a) The authority has the following powers:
(1) Perpetual succession in corporate name;
(2) Sue and be sued in its name;
(3) Adopt, use and alter a corporate seal, which shall be judicially noticed;
(4) Enter into such contracts and cooperative agreements with federal, state and local governments, with agencies of such governments, with private individuals, corporations, associations and other organizations as the board may deem necessary or convenient to enable it to carry out the purposes of this part;
(5) Adopt, amend and repeal bylaws;
(6) Appoint such managers, officers, employees, attorneys and agents as the board deems necessary for the transaction of its business, fix their compensation, define their duties and require bonds of such of them as the board may determine. The salaries of any such employees may be paid out of such funds as may be available to the authority;
(7) Accept the transfer of grants, funds, assets and liabilities of the authority upon the termination of the interlocal government cooperative agreement establishing the authority, in accordance with § 64-10-217;
(8) Create pilot programs for the establishment of new small business incubators, and for the maintenance and support of existing small business incubators in the region;
(9) Accept state appropriations to be used solely for the creation of pilot programs to establish and maintain small business incubators in the region; and
(10) Adopt policies and procedures to administer pilot programs, including, but not limited to, policies and procedures to establish criteria to determine which counties in the region shall qualify for funding to establish small business incubators.
(b) The board shall:
(1) Approve an annual budget for the authority;
(2) Adopt a purchasing policy and a personnel policy consistent with state and federal law; and
(3) Adopt policies and procedures for fiscal control and accounting.
(c) The board may do all other things that are necessary or appropriate for carrying out this part that are not prohibited by law or this part.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.