2009 California Government Code - Section 40560-40568 :: Article 5. Powers

40560.  An authority shall be managed under the provisions of this
chapter and may exercise the powers therein expressly granted or
necessarily implied therefrom.

40561.  Each authority has the power generally to perform all acts
necessary to carry out fully the provisions of this chapter.

40562.  An authority has perpetual succession.

40563.  An authority may adopt a seal and alter it at pleasure.

40564.  An authority may make contracts to carry out the purposes of
the authority.

40565.  An authority may have construction or other work performed
by contract or may otherwise do the work in the manner provided for
the local agency.

40566.  The authority may:
   (a) Sue and be sued, have a seal, and make and execute contracts
and other instruments necessary or convenient to the exercise of its
powers.
   (b) Make, and from time to time amend and repeal, regulations not
inconsistent with this chapter to carry into effect the powers and
purposes hereof.
   (c) Select and appoint or remove such permanent and temporary
officers, agents, counsel, and employees, as it requires, and may
determine their qualifications, duties and compensation.

40567.  The authority may:
   (a) Purchase, lease, obtain option upon, acquire by contract or
grant, any real property as defined in Section 40517 or personal
property within or contiguous to the local agency, or any interest
in, or improvements on, such property.
   (b) Sell, lease, exchange, transfer, assign, subdivide, pledge by
mortgage, deed of trust, or otherwise dispose of any real or personal
property or any interest in such property.
   (c) Maintain and operate any property acquired by it, for any
public purpose.
   (d) Lay out, open, extend, widen, straighten, establish, or change
the grade, and improve, in whole or in part, of rights-of-way
necessary or convenient for such property.
   (e) Clear buildings, structures or other improvements from the
property.
   (f) Develop the property or any part thereof as a building site,
including but not limited to grading, shaping, cutting and filling,
locating and relocating public streets and places therein, and the
installation of street improvements therein or therefor.
   (g) Rent, maintain, manage, operate, improve and repair property.
   (h) Insure, or provide for the insurance of, any real or personal
property or the operation thereof against risks and hazards, and
against the liabilities of the authority, its officers, agents and
employees.
   (i) Borrow money and hypothecate property and revenues as security
therefor.

40568.  The authority shall not be bound by any contract made by the
local agency with respect to acquisition or disposition of property
which was concluded by the local agency prior to the date on which
the authority is authorized to transact business and exercise its
powers.