City Council
Agenda — 1 item
- <strong id="isPasted"><u>Powers Authorized under the Act:</u></strong><br>a) To acquire and lease development property; b) to construct, rehabilitate, maintain, and equip development property; c) to sell, lease, or otherwise grant interest in development property; d) to accept property or services; e) to prepare plans for development property; f) to make loans or advances to development property sponsors; g) to protect municipal interests in development property; h) to acquire legal interest in defaulted development property; i) to borrow money and to issue bonds and notes; j) to charge and collect facility-use fees (lease payments on development properties applicable to operating, maintenance, insurance, and other expenses, including amounts necessary to cover debt service and interest payments on municipal development bonds; k) to enter into contracts; l) to make and collect administration fees; m) to promulgate regulations; n) to sue and be sued; and o) to employ personnel.
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