Ordinance 866-82 - Laserfiche WebLink

encumber any or all of its industrial development facilities . or any part or parts thereof, whether then owned or there- after acquired, and to assign any lease or mortgage and repledge any security conveyed to the Corporation, to secure any loan made by the Corporation and to pledge the revenues and receipts therefrom; 7 . To sue and be sued, complain, and defend in its corporate name; 8 . To make contracts and to execute all instruments necessary or convenient for the carrying out of its business; 9 . To have a corporate seal and to use the same by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced; 10 . Subject to the limitations of section 6 of the Act, (RCW 39 . 84. 060) to borrow money, accept grants from, or contract with any local, state, or federal governmental agency or with any financial , public, or private corporation; 11 . To make and alter bylaws (rules and regulations) not inconsistent with the Charter for the administration and regulation of the affairs of the Corporation; 12 . To collect fees or charges from users or prospec- tive users of industrial development facilities to recover actual or anticipated administrative costs; 13. To accept or reject a project submitted to it for its approval for any reason not prohibited by law; and 14. To execute financing documents incidental to the powers enumerated in this section. Section 9. The Corporation created by this ordinance may not operate any industrial development facility as a business other than as lessor, seller, or lender. The purchase and holding of mortgages, deeds of trust, or other security interests and con- tracting for any servicing thereof is not considered the operation of an industrial development facility. Section 10 . The Corporation created by this ordinance may not exercise any of the powers authorized in this section or issue any revenue bonds with respect to any industrial development -4- BD726 82/06/01