West Virginia Code 29-26-5 – Powers of the authority
In addition to the powers set forth elsewhere in this article, the authority may exercise the following powers it considers the exercise of these powers necessary and appropriate to carry out and effectuate its responsibilities as defined by this article. The authority may:
Terms Used In West Virginia Code 29-26-5
- Bequest: Property gifted by will.
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Judgment: includes decrees and orders for the payment of money, or the conveyance or delivery of land or personal property, or some interest therein, or any undertaking, bond or recognizance which has the legal effect of a judgment. See West Virginia Code 2-2-10
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(a) Employ an executive director and an executive assistant as may be necessary in the judgment of the authority and fix their compensation;
(b) Acquire, hold and dispose of real and personal property for its corporate purposes;
(c) Make bylaws for the management and rule of its affairs;
(d) Contract with and employ attorneys, accountants, construction and financial experts, architects, engineers, managers and such other employees and agents that are necessary in the judgment of the authority and fix their compensation;
(e) Make contracts and execute all instruments necessary or convenient to exercise the powers granted to it by this article;
(f) Renegotiate all contracts entered into by it whenever, due to a change in situation, it appears to the authority that its interests will be best served;
(g) Accept and expend any gift, grant, contribution, bequest or endowment of money to, or for the benefit of, the authority, from the State of West Virginia or any other source;
(h) Identify any alternative sources of funding, whether privately or publicly administered, and assist county applicants in the securing of alternative sources of funding; and
(i) Do all things necessary or convenient to carry out the powers given in this article.