§ 5263 - General powers - Vermont Statutes

§ 5263. General powers

The authority has the following powers for carrying out the purposes of this chapter:

(1) to sue and be sued;

(2) to adopt an official seal and alter it at pleasure;

(3) to make and enforce rules for the conduct of its business and for use of its services and facilities;

(4) to maintain an office at any place within the state;

(5) to acquire, hold, use and dispose of its income, revenues, funds, and moneys;

(6) to acquire, rent, lease, hold, use, and dispose of other personal property for its purposes;

(7) to borrow money and to issue its negotiable bonds or notes and to provide for and secure the payment thereof and to provide for the rights of the holders thereof, to obtain credit enhancement for such bonds and notes, including from any bank, insurance company, financial institution, or department or agency of the United States of America, and to purchase, hold and dispose of any of its bonds or notes;

(8) to fix and revise from time to time and charge and collect fees and charges for the use of its services or facilities;

(9) to accept gifts or grants of property, funds, money, materials, labor, supplies or services from the United States of America or from any governmental unit or any person, firm, or corporation, and to carry out the terms or provisions or make agreements with respect to any gifts or grants, and to do any and all things necessary, useful, desirable or convenient in connection with procuring, acceptance or disposition of gifts or grants;

(10) to do anything authorized by this chapter, through its officers, agents or employees or by contracts with any person, firm or corporation;

(11) to make and execute financing agreements and all other instruments necessary or convenient for the exercise of the powers and functions conferred on the authority under this chapter;

(12) to enter into and enforce all contracts necessary, convenient, or desirable for the purposes of the authority or pertaining to any financing agreement, to the performance of its duties and execution or carrying out of any of its powers under this chapter;

(13) to invest any funds or moneys of the authority not then required in the same manner as permitted for investment of funds belonging to the state or held in the treasury, except as otherwise provided by this chapter; and

(14) to do all things necessary, convenient or desirable to carry out the powers expressly granted or necessarily implied in this chapter. (Added 1999, No. 121 (Adj. Sess.), § 1.)