Sec. 30.13.040. Powers of an authority.

274 words·~1 min read·/ak/title-30/chapter-13/30-13-040

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Subject to AS 30.13.050 and AS 30.13.130 , in furtherance of its corporate purposes under AS 30.13.030 , an authority has the power to

(1)sue and be sued;

(2)have a seal and alter it at its pleasure;

(3)adopt and amend bylaws for its organization and internal management;

(4)adopt regulations governing the exercise of its corporate powers;

(5)acquire, rent, hold, use, and dispose of projects and other real and personal property necessary, useful, or convenient for its purposes upon the terms and conditions the authority may consider advisable;

(6)provide for and secure the payment of bonds and the rights of the holders of them, and to purchase, hold, and dispose of bonds;

(7)accept gifts, loans, or grants, including organizational grants, from, and enter into contracts or other transactions regarding them with, any federal, state, municipal, or other agency or instrumentality, private organization, or other person;

(8)deposit or invest its funds, subject to agreements with bondholders;

(9)charge and collect only those rents, rates, fees, or other charges that are necessary to pay for capital, maintenance, and operating costs of the services and facilities of the authority and for the establishment of reserves to secure, and for the payment of, bonds or notes or interest on bonds or notes;

(10)enter into contracts or other transactions with any federal, state, municipal, or other agency, or instrumentality, private organization, or person consistent with the exercise of any powers under this chapter; and

(11)do all things necessary and convenient to carry out its corporate purposes and exercise the powers granted in this chapter.