Article III — Powers

In order to achieve the purposes set forth in Article I of this chapter, the Authority may:

• (a) Sue and be sued, have a seal, and make and execute contracts and other instruments necessary or convenient to the exercise of its powers.

• (b) Make, and from time to time amend and repeal, bylaws and regulations not inconsistent with this chapter to carry into effect the powers and purposes hereof.

• (c) Select and appoint or remove such permanent and temporary agents and employees, as it requires, and may determine their qualifications, duties, and compensation. The powers of the Authority under this article are subject to all limitations and rights applicable to similar employment by the City unless, by the resolution adopted pursuant to SCCC § 17.25.140 , the City Council otherwise determines.

• (Ord. 1887 § 1, 5-24-2011)

The Authority may:

• (a) Purchase, lease, obtain options upon, acquire by gift, grant, bequest, devise, or otherwise, any real or personal property within the area of the city within the Bayshore North Project Area, or any interest in, or improvements on, such property by any means by which the City is authorized to do so.

• (b) Sell, lease, exchange, transfer, assign, encumber (by mortgage, deed of trust, or otherwise) or otherwise dispose of any real or personal property or any interest in such property.

• (c) Insure any of its real or personal property or operations against risks or hazards. (Ord. 1887 § 1, 5-24-2011)

The Authority may acquire, construct, rent, lease, maintain, repair, manage and operate all or any portion of any real and personal property. Leases may be negotiated without competitive bidding or awarded after competitive bidding in such manner as may be established by the Authority. (Ord. 1887 § 1, 5-24-2011)

The Authority may do any act to acquire and maintain property within the area of the city within the Bayshore North Project Area, to devote such property to uses and activities consistent with the

purposes of this chapter and to acquire and construct such improvements on property owned, controlled, or operated by it as may be necessary or appropriate to such uses and activities. (Ord. 1887 § 1, 5-24-2011)

The Authority may receive, control, and order the expenditure of any and all money and funds pertaining to its facilities or properties, including but not limited to:

• (a) All revenue derived from operations of the Authority.

• (b) The proceeds of all financial aid or assistance by the State of California or the Federal government.

• (c) The proceeds of assessments or special taxes levied by the City.

(d) The proceeds of all bonds issued pursuant to this chapter. (Ord. 1887 § 1, 5-24-2011)

The Authority may invest funds held in reserve, or sinking funds, or funds not required for immediate disbursement, in property or securities in which cities may legally invest funds subject to their control. No such investment shall be made in contravention of any covenant or agreement with the holders of any bonds of the Authority issued and outstanding. (Ord. 1887 § 1, 5-24-2011)

The Authority may borrow money or accept financial or other assistance from the State, the Federal government, or any other source for or in aid of any project within its area of operation, and to such ends may comply with any conditions attached thereto. (Ord. 1887 § 1, 5-24-2011)

The Authority may exercise all or any part or combination of the powers granted by this chapter. (Ord. 1887 § 1, 5-24-2011)

The Authority may do and perform any and all other acts and things necessary, convenient, desirable, or appropriate to carry out the provisions of this chapter. (Ord. 1887 § 1, 5-24-2011)

In order that there may be no unnecessary duplication of effort or expense, the Authority may provide for the furnishing of services by, and the use of facilities of, any department, office or agency of the City in lieu of, or in conjunction with, the direct provision by the Authority of services and the

use of facilities through employment or purchase or other means. The furnishing of such services and the use of such facilities of any such department, office or agency shall be upon such terms and conditions as may be approved by the Authority and the City Council, and subject to reimbursement to the appropriate funds of the City for the reasonable value thereof. (Ord. 1887 § 1, 5-24-2011)

Whenever the Authority determines that the management and operation of any facility authorized hereunder is so complex and specialized as to require that it be accomplished by specially qualified persons, it may make and enter into managing agency agreements with competent persons, firms or corporations specially trained and experienced to render such services, subject to retention of such controls over rates and use of the facility as are necessary or desirable to assure its operation as a public authority.

(Ord. 1887 § 1, 5-24-2011)

The Authority may make grants or loans of money or property to the redevelopment agency, stadium authority, housing authority, parking authority or any other agency or authority of the City, or to the City itself, to facilitate the accomplishment of any public purpose, subject to such terms and conditions as may be established by the Authority, and provided the governing board makes appropriate findings that such grant or loan does not constitute a gift of public funds or violate any statutory prohibition. Such public purposes may be carried out and accomplished by the entity to which such grant or loan was made without limitation or restriction by reason of the existence of such grant or loan, other than such as may be established by such terms and conditions. (Ord. 1887 § 1, 5-24-2011)

Notwithstanding any provision herein, the Authority may not accept any monies or property from the City, whether denominated a gift, donation, contribution or otherwise. (Ord. 1887 § 1, 5-24-2011)