Guam § 4104 - General Powers: Termination Date.

§ 4104. General Powers: Termination Date.

The Housing Corporation shall have, and may exercise, the

following general powers in carrying on the activities specified

in this Chapter:

(a) To have perpetual succession.

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(b) To adopt, alter and use a corporate seal, which shall

be judicially noticed.

(c) To adopt, amend and repeal by laws governing the

conduct of its business and the performance of the powers

and duties granted to or imposed upon it by law.

(d) To sue and to be sued in its corporate name.

(e) To determine the character of and the necessity for

its obligations and expenditures and the manner in which

they shall be incurred, allowed and paid, subject to the laws

applicable specifically to government corporations.

(f) To acquire, in accordance with Title VII-A of the

Government Code and the laws of Guam, any property, real,

personal or mixed, tangible or intangible, to hold, maintain,

use and operate the same; and to sell, lease or otherwise

dispose of the same, whenever any of the foregoing

transactions are deemed necessary or appropriate to the

conduct of the activities authorized by this Chapter, and on

such terms as may be prescribed by the Housing

Corporation.

(g) To enter into and perform such contracts, leases,

cooperative agreements or other transactions with any

agency or instrumentality of the United States, or with any

state, territory or possession, or with any political

subdivision thereof, or with any person, firm, association or

corporation, as may be deemed necessary or appropriate to

the conduct of the activities authorized by this Chapter, and

on such terms as may be prescribed by the Housing

Corporation. Provided, that in no case shall the Housing

Corporation contract to undertake an activity for any agency

or instrumentality of the United States, or for any state,

territory or possession, or for any political subdivision

thereof, unless the latter is authorized by law to undertake

such activity and furnishes the funds for such purpose.

(h) To execute all instruments necessary or appropriate

in the exercise of any of its functions.

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(i) To appoint, pursuant to the provisions of the

personnel rules adopted pursuant to 4 GCA §§ 4105 and

4106, such officers, agents, attorneys and employees, as

may be necessary for the conduct of the business of the

Housing Corporation; to delegate to them such powers and

to prescribe for them such duties as may be deemed

appropriate by the Housing Corporation; to fix and pay such

compensation to them for their services as the Housing

Corporation may determine, without regard to the

compensation laws and to require bonds from such of them

as the Housing Corporation may designate, the premiums,

therefore, to be paid by the Housing Corporation. Any

member of said Board who is found by the Governor or his

representative to be guilty of a violation of this Section shall

be removed from office by the Governor and any appointee

of said Board who is found by the Board to be guilty of a

violation of this Section shall be removed from office by

said Board. The Housing Corporation shall give due

consideration to residents of Guam in the selection and

promotion of its officers and employees.

(j) To accept gifts or donations of services or of

property -- real, personal or mixed, tangible or intangible --

in aid of any of the activities authorized by this Chapter.

(k) To settle and adjust claims held by it against other

persons or parties and by other persons or parties against the

Housing Corporation.

(l) To take such action as may be necessary or

appropriate to carry out the powers and duties herein or

hereafter specifically granted to or imposed upon it.

(m) To borrow funds required to finance or refinance

its revenue producing projects or to finance or refinancing a

home financing program under § 4602 by the issuance, from

time to time, of bonds under such terms and conditions as

the Housing Corporation may prescribe, and to pledge and

assign specified revenues and other property of the Housing

Corporation to the repayment of such bonds.