Such Corporation, in furtherance of the specific purposes herein states shall have the following powers:
(A) To enter into such contracts, cooperative agreements and working relationships as may reasonably be required to effectuate the purposes and programs of the Corporation;
(B) To establish such policies and procedures as will effectuate the purposes of the Corporation and provide financial and program accountability and responsibility;
(C) To employ for the purpose of carrying out any of its purposes and functions such personnel as may be assigned to it from time to time by any department or agency of the city;
(D) To borrow money and to issue, sell or pledge its obligations and evidences of indebtedness, and to mortgage its property and franchises to secure the payment thereof;
(E) To invest and reinvest all monies, both principal and income, in interest bearing and non-interest bearing accounts, mortgages, notes, land contracts, stocks, bonds and other securities as may be allowed by the laws of the state;
(F) To receive and expend such amounts as may be appropriated from time to time by the Common Council of the city to carry out any of its purposes and functions, and to receive from any person or governmental agency by grant, gift, devise, bequest or otherwise any money or property, absolutely or in trust, either the principal or income from which may be used in accordance with the terms of any such grant or gift in furtherance of any of the purposes and functions of the Corporation as set forth herein;
(G) To establish and administer revolving loan funds and reserve, contingency and sinking funds as may reasonably be required to effectuate the purposes of the Corporation;
(H) To acquire, by purchase, lease, gift, donation or otherwise, land and properties, and to improve, demolish, move or remove, reconstruct, rehabilitate, renovate and remodel properties and to retain, lease, sell or otherwise dispose of, for cash or debt, land and properties; and
(I) Generally, to do all and similar things necessary and appropriate to the purposes and functions of the Corporation.
('74 Code, § 2-79) (Ord. G-25-75, passed - -75)