§ 426.90. Powers.

The MIHA shall have all those powers, and only those powers, necessary or convenient to own and operate the Little Earth Project as a low to moderate income housing project for Indians including, but not limited to, the power to:

(1)

Sue and be sued;

(2)

Enter contracts necessary or convenient to own and operate the Little Earth Project;

(3)

Call upon the chief law officer of the city or to retain outside counsel for legal services it requires;

(4)

Delegate to one or more of its agents the powers or duties it deems proper;

(5)

Acquire and operate the Little Earth Project, including undertaking, preparing, carrying out and providing for the reconstruction, rehabilitation, improvement, alteration, or repair of the Little Earth Project or any part thereof;

(6)

Within its area of operation, acquire real or personal property or any interest therein by gifts, grant, purchase, lease, transfer, bequest, devise or otherwise;

(7)

Give, sell, transfer, convey or otherwise dispose of real or personal property or any interest therein and to execute leases, deeds, conveyances, negotiable instruments, purchase agreements and other contracts or instruments necessary or convenient to carry out the purposes of this chapter;

(8)

Establish eligibility standards for residents of the Little Earth Project, provided such standards are in accordance with applicable state and federal law;

(9)

Make, or agree to make, payments in lieu of taxes to the city, county, state or any political subdivision thereof, that it finds consistent with the purposes of this chapter;

(10)

Borrow money or other property and provide security therefor;

(11)

Accept contributions, grants, gifts, services, or other assistance from the federal government, the state government, state public bodies, or from any other public or private sources;

(12)

Include in any contract for financial assistance with the federal government any conditions that the federal government may attach to its financial aid of a project, not inconsistent with the purposes of this chapter;

(13)

Issue bonds for any of its corporate purposes and to secure the bonds by mortgages upon property held or to be held by it or by pledge of its revenues, including grants or contributions;

(14)

Invest any funds held in reserves or sinking funds, or any funds not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control or in the manner and subject to the conditions provided in Minnesota Statutes, Section 475.66 for the deposit and investment of debt service funds;

(15)

Lease or rent any dwellings within the Little Earth Project and, subject to the limitations contained in any agreements with or requirements of the federal government with respect to the rental of dwellings in housing projects, to establish and revise the rents or charges therefor;

(16)

Insure or provide for the insurance of any real or personal property or operations of the authority against any risks or hazards;

(17)

Procure or agree to the procurement of government insurance or guarantees of the payment of any bonds or parts thereof issued by an authority and to pay premiums on the insurance;

(18)

Make expenditures necessary to carry out the purposes of this chapter. (90-Or-259, § 1, 10-26-90)