§ 9-12-104 — General powers and duties of the council

(a) Except as otherwise limited by this act, the council
may:
(i) Sue and be sued and procure necessary liability
insurance;
(ii) Have a seal;
(iii) Make and execute contracts and other
instruments;
(iv) Adopt rules and regulations to implement the
programs and functions assigned to the council by this act. Any
rule adopted by the council shall be submitted to the management
council of the legislature in accordance with W.S. 28-9-101
through 28-9-108, approved by the governor as provided in W.S.
16-3-103(d) and filed with the secretary of state;
(v) Acquire or contract to acquire by grant,
purchase, option or otherwise, real, personal or mixed property
or any interest in property, including patents, copyrights,
trademarks or any other evidence of protection or exclusivity as
to products;
(vi) Own, hold, clear, improve and rehabilitate, and
sell, assign, exchange, transfer, convey, lease and mortgage
real, personal or mixed property or otherwise dispose of, or
encumber the same;
(vii) Grant options to purchase any interest in or
asset arising out of an agreement;
(viii) Provide advisory, consultative or educational
services, technical assistance and advice to any person in order
to carry out the purposes of the council;
(ix) Mortgage or pledge any or all of its revenue,
income, or interest in or asset arising out of a venture
agreement;
(x) Except as otherwise provided in this act, deposit
any funds of the council in any financial institutions located
within the state;
(xi) Procure insurance against any loss in connection
with its property and other assets and operations in amounts and
from insurers it deems desirable;
(xii) Engage the services of consultants on a
contract basis for rendering professional, financial and
technical assistance and advice, including for studies and
investigation likely to lead to business development. The
procurement of the professional services of architects,
engineers and surveyors shall be in accordance with W.S. 9-23-
105(f) through (h) and 9-23-106(g);
(xiii) Contract for and 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
thereof, or from any other source and pass through or otherwise
comply, subject to the provisions of this chapter, with the
terms and conditions thereof;
(xiv) Enter into agreements with persons doing
business or who will do business in this state for the
advancement of financial assistance to those persons for
research and the development of specific products, procedures
and techniques to be developed and produced in this state
conditioned upon contractual assurances that the benefits of
increasing or maintaining employment and tax revenues shall
remain in and accrue to this state;
(xv) Consent to the modification of the terms of any
mortgage, loan or contract to which the council is a party;
(xvi) Organize, conduct, sponsor or cooperate in and
assist the conduct of special institutes, conferences and
demonstrations relating to the stimulation and formulation of
business development;
(xvii) Make investments in projects that have
potential to stimulate economic development in the state;
(xviii) Render advice and assistance and to provide
services to state agencies, local and regional economic
development entities, private firms and other persons providing
services or facilities for economic development in Wyoming;
(xix) Do all acts and things necessary or convenient
to carry out the powers granted to it by this act or any other
act;
(xx) Repealed By Laws 2010, Ch. 69, § 204.
(xxi) Repealed by Laws 2008, Ch. 6, § 2.
(b) The board, consistent with this act, shall develop
guidelines for each of the areas specified in subsection (a) of
this section relative to definitions, types of grants or loans,
level of funding and repayment requirements.