§ 4591. General powers
The Bank 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 monies;
(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, 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 enter into and enforce all contracts necessary, convenient, or desirable for the
purposes of the Bank or pertaining to any loan to a governmental unit or any purchase
or sale of municipal bonds or revenue bonds or other investments or to the performance
of its duties and execution or carrying out of any of its powers under this chapter;
(12) to purchase or hold municipal bonds and revenue bonds at such prices and in such manner
as the Bank deems advisable, and to sell municipal bonds and revenue bonds acquired
or held by it at such prices without relation to cost and in such manner as the Bank
deems advisable, all consistent with the policy of the State as declared in section
2 of this act;
(13) to invest any funds or moneys of the Bank not then required for loan to governmental
units and for the purchase of municipal bonds or revenue bonds, 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;
(14) to prescribe any form of application or procedure required of a governmental unit
for the loan or purchase of its municipal bonds or revenue bonds, and to fix the terms
and conditions of that loan or purchase and to enter into agreements with governmental
units with respect to any loan or purchase;
(15) to do all things necessary, convenient, or desirable to carry out the powers expressly
granted or necessarily implied in this chapter;
(16) to maintain and administer the special funds of the State established pursuant to
chapter 120 of this title. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; amended 1985, No. 127 (Adj. Sess.), § 2, eff. April 21, 1986; 1987, No. 55, §§ 7-9, eff. May 15, 1987; 1987, No. 75, § 2.)