(1) In addition to any other
powers granted to the authority in this part 7, the authority has the following
powers:
(a) To have the duties, privileges, immunities, rights, liabilities, and
disabilities of a body corporate and political subdivision of the state;
(b) To have perpetual existence and succession;
(c) To adopt, have, and use a seal and to alter the same at its pleasure;
(d) To sue and be sued;
(e) To enter into any contract or agreement not inconsistent with this part 7
or the laws of this state;
(f) To borrow money and to issue bonds evidencing the same;
(g) To purchase, lease, trade, exchange, or otherwise acquire, maintain, hold,
improve, mortgage, lease, and dispose of real property and personal property,
whether tangible or intangible, and any interest therein;
(h) To acquire office space, equipment, services, supplies, and insurance
necessary to carry out the purposes of this part 7;
(i) To deposit any moneys of the authority in any banking institution within or
without the state or in any depository authorized in section 24-75-603, C.R.S., and
to appoint, for the purpose of making such deposits, one or more persons to act as
custodians of the moneys of the authority, who shall give surety bonds in such
amounts and form and for such purposes as the board requires;
(j) To disburse any moneys in the revolving fund established pursuant to
section 29-4-728 in accordance therewith;
(k) To contract for and to accept any gifts, grants, and loans of funds,
property, or any other aid in any form from the federal government, the state, any
state agency, or any other source, or any combination thereof, and to comply,
subject to the provisions of this part 7, with the terms and conditions thereof;
(l) To act as agent for federal, state, or local government or for qualified
organizations or corporations in connection with the acquisition, construction,
reconstruction, rehabilitation, leasing, operation, or management of a housing
facility or project or any part thereof or the furnishing of capital to business
enterprises;
(m) To authorize the executive director to enter into contracts, execute all
instruments, and do all things necessary or convenient in the exercise of the powers
granted in this part 7 and to secure the payment of bonds;
(n) To have and exercise all rights and powers necessary or incidental to or
implied from the specific powers granted in this part 7, which specific powers shall
not be considered as a limitation upon any power necessary or appropriate to carry
out the purposes and intent of this part 7;
(o) To fix the time and place or places at which its regular and special
meetings are to be held. Meetings shall be held on the call of the chairman, but no
less than eight meetings shall be held annually.
(p) To adopt and from time to time amend or repeal bylaws and rules and
regulations consistent with the provisions of this part 7;
(q) To elect one director as chairman of the board and another director as
chairman pro tem of the board and to appoint one or more persons as secretary and
treasurer of the board and such other officers as the board may determine and
provide for their duties and terms of office;
(r) To appoint an executive director and such other agents, employees, and
professional and business advisers as may from time to time be necessary in its
judgment to accomplish the purposes of this part 7, and to fix the compensation of
such employees, agents, and advisers, and to establish the powers and duties of all
such officers, agents, and employees and other persons contracting with the
authority;
(s) To provide a method for sponsors to let contracts on a fair and equitable
basis for the construction of housing facilities or projects or the performance or
furnishing of labor, materials, or supplies as required in this part 7;
(t) To the extent permitted under its contract with the holders of bonds, to
enter into contracts containing provisions permitting the reduction of the rental or
carrying charges to persons unable to pay the regular schedule of charges where,
by reason of other income or payment by any department, agency, or
instrumentality of the United States or this state, such reduction can be made
without jeopardizing the economic stability of the housing facility being financed;
(u) To protect the interest of the authority in housing facilities, projects, and
loans to and equity investments in business enterprises for capital made under this
part 7 by such action as is in the best interests of the authority, including, without
limitation, taking assignment of leases, rentals, and other revenues and assets and
proceeding with foreclosure, repossession, purchase, sale, or other means of
acquisition of such facilities or projects or other security and, in the case of equity
investments, taking any action permitted by law or pursuant to any subscription,
partnership, or other instrument, certificate, or document related to such
investment;
(v) To act as a coinsurer with any department or agency of the federal
government with respect to a loan to finance housing facilities for low- or
moderate-income families;
(w) To waive, by such means as the authority deems appropriate, the
exemption from federal income taxation of interest on the authority's bonds, notes,
or other obligations provided by the Internal Revenue Code of 1986, as amended,
or any other federal statute providing a similar exemption;
(x) To make and execute agreements, contracts, and other instruments
necessary or convenient in the exercise of the powers and functions of the
authority under this part 7, including but not limited to contracts with any person,
firm, corporation, municipality, state agency, county, or other entity. All
municipalities, counties, and state agencies are hereby authorized to enter into and
do all things necessary to perform any such arrangement or contract with the
authority.
(y) To arrange for guaranties or insurance of its bonds, notes, or other
obligations by the federal government or by any private insurer, and to pay any
premiums therefor;
(z) To enter into agreements to pay annual sums in lieu of taxes to any
county, municipality, or other taxing entity with respect to any real property which
is owned by the authority and is located in such county, municipality, or other taxing
entity;
(aa) To provide financial advice and counseling with respect to business
enterprises and to provide for guaranties, insurance, coinsurance, or reinsurance
against risks of loss on loans to business enterprises to finance projects or provide
capital.
(bb) Repealed.