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§42-64.14-7  Powers and duties of the commission. –

Published: 2015

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State Affairs and Government

CHAPTER 42-64.14

The I-195 Redevelopment Act of 2011

SECTION 42-64.14-7

   § 42-64.14-7  Powers and duties of the

commission. –

The commission shall have all the rights and powers reasonably necessary to

carry out and effectuate this chapter, including, including, but not limited

to, the rights and powers:

   (1) To sue and be sued, complain and defend, in its corporate


   (2) To have a seal which may be altered at pleasure and to

use the seal by causing it, or a facsimile of the seal, 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 otherwise deal in and with, real or personal

property, or any interest in real or personal property, wherever situated.

   (4) To acquire and to dispose of real property, subject to

the provisions of this chapter, without the necessity of obtaining the approval

of the state properties committee or otherwise complying with the provisions of

title 37.

   (5) To sell, convey, mortgage, pledge, lease, exchange,

transfer, and otherwise dispose of all or any part of its property and assets

for any consideration and upon any terms and conditions as the commission shall


   (6) To make contracts and guarantees and incur liabilities,

borrow money at any rates of interest as the commission may determine.

   (7) To make and execute agreements of lease, conditional

sales contracts, installment sales contracts, loan agreements, mortgages,

construction contracts, operation contracts, and other contracts and

instruments necessary or convenient in the exercise of the powers and functions

of the commission granted by this chapter.

   (8) To invest and reinvest its funds, and at its option to

take and hold real and personal property as security for the payment of funds

so loaned or invested.

   (9) To acquire or contract to acquire, from any person, firm,

corporation, municipality, the federal government, or the state, or any agency

of either the federal government or the state, by grant, purchase, lease, gift,

condemnation, or otherwise, or to obtain options for the acquisition of any

property, real or personal, improved or unimproved, and interests in land less

than the fee thereof; and to own, hold, clear, improve, develop, and

rehabilitate, and to sell, assign, exchange, transfer, convey, lease, mortgage,

or otherwise dispose or encumber that property for the purposes of carrying out

the provisions and intent of this chapter, for any consideration as the

commission shall determine, and with the approval of the commission to retain a

master developer for all or any portion of a project. Any master developer

position shall be subject to advertising and solicitation of applicants shall

be approved at a duly posted public meeting of the commission.

   (10) To conduct its activities, carry on its operations, and

have offices and exercise the powers granted by this chapter, within the state.

   (11) To make and alter by-laws, not inconsistent with this

chapter, for the administration and regulation of the affairs of the district

   (12) To be a promoter, partner, member, associate, or manager

of any partnership, enterprise, or venture within the district and to engage in

promotional, marketing, and similar activities for the benefit of the district.

   (13) To enter into contracts, agreements, and cooperative

agreements with the city and its agencies and instrumentalities and the State

and its agencies and instrumentalities for the sharing of personnel and other


   (14) To have and exercise all powers reasonably necessary to

effect its purposes; provided, however, that the commission shall not have any

power to create, empower or otherwise establish any corporation, subsidiary

corporation, corporate body, any form of partnership, or any other separate

entity without the express approval and authorization of the general assembly.

History of Section.

(P.L. 2011, ch. 245, § 3; P.L. 2011, ch. 267, § 3.)