§ 16-62-5. General powers.
The authority shall have all the powers necessary and convenient to carry out and
effectuate the purposes and provisions of this chapter, including without limiting
the generality of the preceding statement, the power:
(1) To sue and be sued, complain, and defend, in its corporate name.
(2) To have a seal which may be altered at pleasure, and to use it by causing it, or a
facsimile of it, 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 deal in and with, real or personal property, or any interest in it, wherever situated.
(4) To sell, convey, mortgage, pledge, lease, exchange, transfer, and dispose of all or
any part of its property and assets for any consideration and upon any terms and conditions
as the authority shall determine.
(5) To make contracts and incur liabilities, and borrow money at any rates of interest
as the authority may determine.
(6) To make and execute all contracts, agreements, and instruments necessary or convenient
in the exercise of the powers and functions of the authority granted by this chapter.
(7) To lend money for its purposes, and invest and reinvest its funds.
(8) To conduct its activities, carry on its operations, and have offices and exercise
the powers granted by this chapter, within or without the state.
(9) To elect, appoint, or employ in its discretion officers and agents of the authority,
and define their duties and fix their compensation.
(10) To make and alter bylaws, not inconsistent with this chapter, for the administration
and regulation of the affairs of the authority, and those bylaws may contain provisions
indemnifying any person who is or was a director, officer, employee, or agent of the
authority, in the manner and to the extent provided in § 7-1.2-814.
(11) To have and exercise all powers necessary or convenient to effect its purposes.