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House Journal: Page 1247: Friday, April 3, 1998

37     1.  To have perpetual succession as a corporate
38   body and to adopt bylaws, policies, and procedures for
39   the regulation of its affairs and conduct of its
40   business consistent with the purposes of this
41   division.
42     2.  To enter into venture agreements with persons
43   doing business in Iowa upon conditions and terms which
44   are consistent with the purposes of this division for
45   the advancement of financial aid to the persons.  The
46   financial aid advanced shall be for the development of
47   specific products, procedures, and techniques which
48   are to be developed and produced in this state.  The
49   corporation shall condition the agreements upon
50   contractual assurances that the benefits of increasing

Page 3

 1   or maintaining employment and tax revenues shall
 2   remain in Iowa.
 3     3.  To receive and accept aid or contributions from
 4   a source of money, property, labor, or other things of
 5   value to be used to carry out the purposes of this
 6   division including gifts or grants from a department
 7   or agency of the United States or any state.
 8     4.  To issue notes and bonds as provided under this~`'
 9   division.
10     5 2.  To hold patents, copyrights, trademarks, or
11   other evidences of protection or exclusivity issued
12   under the laws of this state or the United States to
13   any products.
14     6 3.  To employ assistants, agents, and other
15   employees and to engage consultants, attorneys, and
16   appraisers as necessary or desirable to carry out the
17   purposes of the corporation.
18     7 4.  To make and enter into contracts and
19   agreements necessary or incidental to its performance
20   of the duties and the powers granted to the
21   corporation.
22     8 5.  To sue and be sued, plead, and adopt a seal.
23     9 6.  With the approval of the treasurer of state,
24   to invest funds which are not needed for immediate use
25   or disbursement, including funds held in reserve, in
26   obligations issued or guaranteed by the state or the
27   United States.
28     10 7.  To procure insurance against a loss in
29   connection with its property and other assets.
30     11 8.  To the extent permitted under a corporation
31   contract with other persons, to consent to a
32   termination, modification, forgiveness, or other
33   change in the terms of a contractual right, payment,
34   royalty, contract, or agreement.
35     12 9.  To take necessary action to render bonds
36   issued under this division more marketable."

© 1998 Cornell College and League of Women Voters of Iowa

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Last update: Mon Apr 6 13:40:03 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01200/01247.html
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