A municipality has all the powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including the power:

1.    To authorize or undertake and carry out development or renewal projects within its area of operation; to make and execute contracts and other instruments necessary or convenient to the exercise of its powers under this chapter; and to disseminate industrial or commercial development, slum clearance, and urban renewal information.

2.    To provide, arrange, or contract for the furnishing or repair by any person or agency, public or private, of services, privileges, works, streets, roads, public utilities, or other facilities for or in connection with a development or renewal project; to install, construct, and reconstruct streets, utilities, parks, playgrounds, and other public improvements; and to agree to any conditions that it may deem reasonable and appropriate attached to federal financial assistance and imposed pursuant to federal law relating to the determination of prevailing salaries or wages or compliance with labor standards, in the undertaking or carrying out of a development or renewal project, and to include in any contract let in connection with the project, provisions to fulfill those conditions as it may deem reasonable and appropriate.

3.    Within its area of operation, to enter upon any building or property in any development or renewal area in order to make surveys, appraisals, soundings, or test borings, and to obtain an order for this purpose from a court of competent jurisdiction in the event entry is denied or resisted; to acquire by purchase, lease, option, gift, grant, bequest, devise, or otherwise, any real property or personal property for its administrative purposes together with any property improvements; to hold, improve, clear, or prepare    for development or redevelopment any such property; to mortgage, pledge, hypothecate, or otherwise encumber or dispose of any real property; to insure or provide for the insurance of any real or personal property or operations of the municipality against any risks or hazards, including the power to pay premiums for the insurance; and to enter into any contracts necessary to effectuate the purposes of this chapter; provided, however, that no statutory provision with respect to the acquisition, clearance, or disposition of property by public bodies restricts a municipality or other public body exercising powers under this subsection, in the exercise of those functions with respect to a development or renewal project, unless the legislative assembly shall specifically so state.

4.    To invest development or renewal project funds held in reserves or sinking funds, or any of those funds not required for immediate disbursement, in property or securities in which savings banks may legally invest funds subject to their control; to redeem bonds issued pursuant to section 40-58-10 at the established redemption price or to purchase bonds at less than redemption price, all bonds so redeemed or purchased to be canceled.

5.    To borrow money and to apply for and accept advances, loans, grants, contributions, and any other form of financial assistance from the federal government, the state, county, or other public body, or from any sources, public or private, for the purposes of this chapter, and to give such security as may be required and to enter into and carry out contracts in connection therewith. A municipality may include in any contract for financial assistance with the federal government for a development or renewal project any conditions imposed pursuant to federal law as the municipality may deem reasonable and appropriate and which are not inconsistent with the purposes of this chapter.

6.    Within its area of operation, to make or cause to have made all plans necessary to the carrying out of the purposes of this chapter and to contract with any person, public or private, in making and carrying out those plans and to adopt or approve, modify, and amend those plans. The plans may include:

a.    A general plan for the locality as a whole. b.    Development or renewal plans.

c.    Plans for carrying out a program of voluntary or compulsory repair and rehabilitation of buildings and improvements.

d.    Plans for the enforcement of state and local laws, codes, and regulations relating to the use of land and the use and occupancy of buildings and improvements and to the compulsory repair, rehabilitation, demolition, or removal of buildings and improvements.

e.    Appraisals, title searches, surveys, studies, and other preliminary plans and work necessary to prepare for the undertaking of development or renewal projects. The municipality may develop, test, and report methods and techniques, and carry out demonstrations and other activities, for the prevention and the elimination of slums and urban blight, and to apply for, accept, and utilize grants of funds from the federal government for such purposes.

7.    To prepare plans and provide reasonable assistance for the relocation of families displaced from a development or renewal area.

8.    To appropriate funds and make expenditures that are necessary to carry out the purposes of this chapter, and to levy taxes within the limitations of the capital improvements fund under section 57-15-38 and to levy assessments for those purposes; to close, vacate, plan, or replan streets, roads, sidewalks, ways, or other places; to plan or replan or zone or rezone any part of the municipality or make exceptions from building regulations; and to enter into agreements with a housing authority or an urban renewal agency vested with urban renewal project powers under section 40-58-15, which agreements may extend over any period, notwithstanding any provision or rule of law to the contrary, respecting action to be taken by the municipality pursuant to any of the powers granted by this chapter.

    9.    Within its area of operation, to organize, coordinate, and direct the administration of this chapter as those provisions apply to the municipality in order that the objectives of remedying slum and blighted areas and preventing the causes of those areas and facilitating the development of industrial or commercial properties within the municipality may be most effectively promoted and achieved, and to establish new offices of the municipality or to reorganize existing offices in order to carry out that purpose most effectively.

10.    To exercise all or any part or combination of the powers granted by this section.