§ 43.160.050. Powers of board
The board may:
(1) Adopt bylaws for the regulation of its affairs and the conduct of its business.
(2) Adopt an official seal and alter the seal at its pleasure.
(3) Utilize the services of other governmental agencies.
(4) Accept from any federal agency loans or grants for the planning or financing of any project and enter into an agreement with the agency respecting the loans or grants.
(5) Conduct examinations and investigations and take testimony at public hearings of any matter material for its information that will assist in determinations related to the exercise of the board's lawful powers.
(6) Accept any gifts, grants, or loans of funds, property, or financial or other aid in any form from any other source on any terms and conditions which are not in conflict with this chapter.
(7) Exercise all the powers of a public corporation under chapter 39.84 RCW.
(8) Invest any funds received in connection with industrial development revenue bond financing not required for immediate use, as the board considers appropriate, subject to any agreements with owners of bonds.
(9) Arrange for lines of credit for industrial development revenue bonds from and enter into participation agreements with any financial institution.
(10) Issue industrial development revenue bonds in one or more series for the purpose of defraying the cost of acquiring or improving any industrial development facility or facilities and securing the payment of the bonds as provided in this chapter.
(11) Enter into agreements or other transactions with and accept grants and the cooperation of any governmental agency in furtherance of this chapter.
(12) Sell, purchase, or insure loans to finance the costs of industrial development facilities.
(13) Service, contract, and pay for the servicing of loans for industrial development facilities.
(14) Provide financial analysis and technical assistance for industrial development facilities when the board reasonably considers it appropriate.
(15) Collect, with respect to industrial development revenue bonds, reasonable interest, fees, and charges for making and servicing its lease agreements, loan agreements, mortgage loans, notes, bonds, commitments, and other evidences of indebtedness. Interest, fees, and charges are limited to the amounts required to pay the costs of the board, including operating and administrative expenses and reasonable allowances for losses that may be incurred.
(16) Procure insurance or guarantees from any party as allowable under law, including a governmental agency, against any loss in connection with its lease agreements, loan agreements, mortgage loans, and other assets or property.
(17) Adopt rules under chapter 34.05 RCW as necessary to carry out the purposes of this chapter.
(18) Do all acts and things necessary or convenient to carry out the powers expressly granted or implied under this chapter.
[1996 c 51 § 4; 1987 c 422 § 4; 1982 1st ex.s. c 40 § 5.]
Notes:
Severability -- Effective dates -- 1996 c 51: See notes following RCW 43.160.010.
RCW 43.160.050
The board may:
(1) Adopt bylaws for the regulation of its affairs and the conduct of its business.
(2) Adopt an official seal and alter the seal at its pleasure.
(3) Utilize the services of other governmental agencies.
(4) Accept from any federal agency loans or grants for the planning or financing of any project and enter into an agreement with the agency respecting the loans or grants.
(5) Conduct examinations and investigations and take testimony at public hearings of any matter material for its information that will assist in determinations related to the exercise of the board's lawful powers.
(6) Accept any gifts, grants, or loans of funds, property, or financial or other aid in any form from any other source on any terms and conditions which are not in conflict with this chapter.
(7) Enter into agreements or other transactions with and accept grants and the cooperation of any governmental agency in furtherance of this chapter.
(8) Adopt rules under chapter 34.05 RCW as necessary to carry out the purposes of this chapter.
(9) Do all acts and things necessary or convenient to carry out the powers expressly granted or implied under this chapter.
[2008 c 327 § 4; 1996 c 51 § 4; 1987 c 422 § 4; 1982 1st ex.s. c 40 § 5.]
Notes:
Effective date -- 2008 c 327 § § 1, 2, 4-11, 17: See note following RCW 43.160.010.
Severability -- Effective dates -- 1996 c 51: See notes following RCW 43.160.010.
Sections: Previous 43.160.010 43.160.020 43.160.020 43.160.020 43.160.030 43.160.035 43.160.040 43.160.050 43.160.060 43.160.070 43.160.074 43.160.076 43.160.077 43.160.078 43.160.080 Next
Last modified: April 7, 2009