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A. Corporate Powers. The board may:

1. Sue and be sued, have a seal and make and execute contracts and other instruments necessary or convenient to the exercise of its powers.

2. Make, and from time to time amend and repeal, bylaws and regulations not inconsistent with this chapter to carry into effect the powers and purposes of this chapter.

3. Select and appoint or remove such permanent and temporary officers, agents, counsel and employees, as it requires, and may determine their qualifications, duties and compensation. The powers of the board under this subsection are subject to all limitations and rights applicable to similar employment by the city, unless by resolution the council otherwise determines.

B. Acquisition and Disposal of Property – Facilities-Insurance. The board may:

1. Purchase, lease, obtain option upon, acquire by gift, grant, bequest, devise or otherwise, any real or personal property within the city, or any interest in, or improvements on, such property.

2. Sell, lease, exchange, transfer, assign, encumber (by mortgage, deed of trust, or otherwise) or otherwise dispose of any real or personal property or any interest in such property.

3. Insure any of its real or personal property or operations against risks or hazards.

C. Maintenance and Management. The board may acquire, construct, rent, lease, maintain, repair, manage and operate all or any portion of any real and personal property, including the leasing of the operation of the property, and the leasing for commercial purposes of surplus space or space which it is not economic to use for public purposes. Leases may be negotiated without competitive bidding or awarded after competitive bidding in such manner as may be established by the board.

D. Construction, Acquisition, Maintenance and Improvement of Public Facilities and Improvements. The board may do any act to construct, acquire, maintain and improve public facilities and improvements within the city, to devote such facilities and improvements to uses and activities consistent with the public purposes of this chapter and to acquire and construct such facilities and improvements on real property owned, controlled or operated by it, or on property leased by it from the city, as may be necessary or appropriate to such uses and activities.

E. Receipt and Expenditures of Funds. The board may receive, control and order the expenditure of any and all money and funds pertaining to public facilities and improvements or related properties, including, but not limited to:

1. All revenue derived from operations of the board;

2. All money appropriated or made available by the city for such purpose;

3. The proceeds of all financial aid or assistance by the state or the federal government;

4. The proceeds of all bonds issued pursuant to this chapter,

5. The proceeds of all bonds or other obligations issued by the city for public facilities or improvements.

F. Investments. The board may invest funds held in reserve or sinking funds, or funds not required for immediate disbursement, in property or securities in which cities may legally invest funds subject to their control under the laws of the state. No such investment shall be made in contravention of any covenant or agreement with the holders of the bonds of the authority issued and outstanding.

G. Borrowing. The board may borrow money or accept financial or other assistance from the city, the state, the federal government, or any other source for or in aid of any public facility or improvements within the city, and to such ends may comply with any conditions attached thereto.

H. Exercise of Powers. The board may exercise all or any part or combination of the powers granted by this chapter

I. Necessary or Convenient Acts. The board may do and perform any and all other acts and things necessary, convenient, desirable or appropriate to carry out the provisions of this chapter.

J. Use of Services and Facilities of City. In order that there may be no unnecessary duplication of effort or expense, the board may provide for the furnishing of services by, and the use of facilities of, any department, office or agency of the city in lieu of, or in conjunction with, the direct provision by the board of services and the use of facilities through employment or purchase or other means. The furnishing of such services and the use of such facilities of any such department, office or agency shall be upon such terms and conditions as may be approved by the board and the council. (Ord. 1059 § 1 (part), 1986)