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The development corporation shall have all the powers granted by the Act and shall be subject to all limitations on such powers provided in the Act. Such powers and limitations shall include, but not be limited to, the following:

A. To construct and maintain one or more industrial development facilities;

B. To lease to a lessee all or any part of any industrial development facility for such rentals and upon such terms and conditions, including options to purchase, as its board of directors considers advisable and not in conflict with the Act;

C. To sell by installment contract or otherwise and convey all or any part of any industrial development facility for such purchase price and upon such terms and conditions as its board of directors considers advisable and which are not in conflict with the Act;

D. To make secured loans for the purpose of providing temporary or permanent financing or refinancing of all or part of the project cost of any industrial development facility, including the refunding of any outstanding obligations, mortgages, or advances issued, made, or given by any person for the project costs; and to charge and collect interest on the loans for the loan payments upon such terms and conditions as its board of directors considers advisable and which are not in conflict with the Act;

E. To issue revenue bonds for the purpose of financing all or part of the project cost of any industrial development facility and to secure the payment of the revenue bonds as provided in the Act;

F. As security for the payment of the principal of and interest on any revenue bonds issued and any agreements made in connection therewith, to mortgage, pledge, or otherwise encumber any or all of its industrial development facilities or any part or parts thereof, whether then owned or thereafter acquired, and to assign any lease or mortgage and repledge any security conveyed to the development corporation, to secure any loan made by the development corporation and to pledge the revenues and receipts therefrom;

G. To sue and be sued, complain, and defend in its corporate name;

H. To make contracts and to execute all instruments necessary or convenient for the carrying out of its business;

I. To have a corporate seal and to use the same by causing it, or facsimile thereof, to be impressed or affixed or in any other manner reproduced;

J. 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;

K. To make and alter bylaws not inconsistent with its charter for the administration and regulation of the affairs of the development corporation;

L. To collect fees or charges from users or prospective users of industrial development facilities to recover actual or anticipated administrative costs;

M. To execute financing documents incidental to the powers enumerated in this section; and

N. To have any and all other powers granted to public corporations under the Act. [Ord. 9449 § 8, 1985].