12E.8  General powers.

1.  The authority has all the general powers necessary to carry out its purposes and duties and to exercise its specific powers, including but not limited to all of the following powers:

a.  The power to issue its bonds and to enter into other funding options as provided in this chapter.

b.  The power to have perpetual succession as a public instrumentality and agency of the state, until dissolved in accordance with this chapter.

c.  The power to sue and be sued in its own name.

d.  The power to make and execute agreements, contracts, and other instruments, with any public or private person, in accordance with this chapter.

e.  The power to hire and compensate legal counsel, notwithstanding chapter 13.

f.  The power to hire investment advisors and other persons as necessary to fulfill its purpose.

g.  The power to invest or deposit moneys of the authority in any manner determined by the authority, notwithstanding chapter 12B or 12C.

h.  The power to procure insurance, other credit enhancements, and other financing arrangements to fulfill its purposes under this chapter, including but not limited to municipal bond insurance and letters of credit.

i.  The power to accept appropriations, gifts, grants, loans, or other aid from public or private entities.

j.  The power to adopt rules, consistent with this chapter and in accordance with chapter 17A, as the board determines necessary.

2.  The authority is exempt from the requirements of chapter 18.

Section History: Recent form

  2000 Acts, ch 1208, §8, 25

Previous Section 12E.7

Next Section 12E.9

Return To Home index

© 2001 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Mon Jan 22 17:13:42 CST 2001
URL: /DOCS/IACODE/2001/12E/8.html