TITLE 42
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
name.
(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
determine.
(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
resources.
(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.)
