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The SMRF Authority shall have the following specifically enumerated powers:

(a) To adopt and use an official seal;

(b) To enter any contracts or agreements with any federal, state, local or Tribal government or governmental agency, or with any person, partnership, firm or corporation;

(c) To lease property from the Tribe and others for such periods and to hold and manage, or to sublease the same;

(d) To borrow or lend money and to issue indebtedness in accordance with the provisions of Chapter 17.40 LVPTC;

(e) To pledge the assets and receipts of the SMRF Authority as security for debts;

(f) To acquire, construct, operate, manage, sell, lease as lessor or lessee, exchange, transfer or assign real or personal property or interests therein;

(g) To purchase land or interests in land or take the same by gift; to lease land or interests in land to the extent provided by law;

(h) To invest such funds as are not required for immediate disbursement;

(i) To establish and maintain such bank accounts as may be necessary or convenient;

(j) To employ such officers and employees, permanent or temporary, as the SMRF Authority may require, and to delegate to such officers and employees such powers and duties as the Commissioners deem proper; and

(k) To take such further actions as are necessary to carry out the purposes as described in LVPTC 17.10.010.

Comment: Created in its entirety pursuant to Resolution No. 93-025, dated November 30, 1993, which adopted a three-point government plan providing for the creation of an instrumentality of the Tribe to finance, develop and operate the Snow Mountain Reservation golf course project.

[Res. 94-034, 1994; Res. 93-025, 1993. Prior Code § 16-30-10.]