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reason of being or having been a member of the board and against | | any final judgment rendered against the member in that action or | | proceeding. |
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| | | In order to carry out the purposes of this Act, the board has | | powers with respect to a project, projects or part of any project | | and other powers that may be necessary for the performance of the | | following: |
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| | | 1.__Perpetual succession.__To have perpetual succession as a | | body politic and corporate and as an instrumentality of the | | State; |
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| | | 2.__Power to sue and be sued.__To sue or initiate or appear in | | any proceeding and the board may be sued on its written contracts | | or in accordance with Title 1, section 409; Title 5, chapter 375; | | or Title 14, chapter 741; |
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| | | 3.__Official seal.__To adopt and have an official seal and | | alter the seal at pleasure; |
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| | | 4.__Bylaws; rules.__To adopt bylaws and, pursuant to Title 5, | | chapter 375, adopt any rule necessary or useful for carrying out | | any of its powers or duties pursuant to this Act.__Rules adopted | | by the board are routine technical rules pursuant to Title 5, | | chapter 375, subchapter II-A, unless otherwise expressly | | designated; |
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| | | 5.__Acquire real or personal property.__To acquire real or | | personal property or any interest in real or personal property, | | including rights or easements, on either a temporary or long-term | | basis by gift, purchase, transfer, foreclosure, lease or | | otherwise, to improve, hold, sell with or without public bidding, | | assign, lease, rent, encumber, mortgage or otherwise dispose of | | any real or personal property or any interest in real or personal | | property, or mortgage interests owned or in its control, custody | | or possession and release or relinquish any right, title claim, | | lien, interest, easement or demand, however acquired, including | | threat of foreclosure; |
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| | | 6.__Prepare and plan projects and facilities.__To prepare or | | cause to be prepared plans, specifications, designs and estimates | | of costs for the project, projects or part of any project and | | attendant facilities and from time to time to modify or cause to | | be modified those plans, specifications, designs or estimates; |
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| | | 7.__Provide for financing or refinancing.__To provide | | financing for any project, projects or part of any project or to | | provide for refinancing of existing indebtedness and for the |
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