CHAPTER 162-G ACQUISITION, DEVELOPMENT AND DISPOSAL OF INDUSTRIAL LAND AND FACILITIES
Section 162-G:4
162-G:4 Powers of the Governmental Unit. –
The governmental unit shall have the following powers in addition to any other powers conferred upon it.
I. To engage in projects and to acquire, lease as lessee, own, and dispose of business and industrial facilities within or without the municipality, and to enter into option contracts to allow a municipality to acquire business and industrial facilities at or before some certain date, at some certain price, or below some certain price.
II. To issue bonds to pay project costs, or to reimburse a tenant for payments for project costs made before or after the bonds are issued, or to refund bonds previously issued.
III. To lease business and industrial facilities as owner and lessor or as lessee and sublessor.
IV. To mortgage, pledge, or assign as security for bonds, through use of a trust indenture or otherwise, any interest which the governmental unit may have in a business and industrial facility as owner and lessor.
V. In the event of a default by a tenant, to lease or sell the business and industrial facility to another person in whole or in part.
VI. To enter into lease subsidy contracts with business and industrial facility tenants upon a vote by the authority and the governing body that the business or industrial tenancy has a demonstrable public benefit.
VII. To make contracts or take any other action which is necessary or desirable in connection with the exercise of the foregoing powers. Nothing in this chapter shall be construed to authorize the governmental unit to operate a business and industrial facility itself or to conduct any business enterprise therein.
VIII. To accept grants that assist in the carrying out of the purposes of this chapter, and to do any and all things necessary or convenient in order to avail itself of such aid.