Powers

The Corporation shall have all the powers necessary and convenient to carry out and perform the purposes and provisions of this Chapter, including the following, in addition to other powers granted in this Chapter, and may:

(1)sue and be sued;

(2)have a seal and modify it;

(3)enter into and execute contracts and instruments of every kind and nature, necessary or convenient to the exercise of its powers and functions;

(4)make and from time to time modify and repeal articles of incorporation, bylaws, rules and regulations, not inconsistent with this Chapter, providing for the internal organization and management of the Corporation, for the administration of its affairs and operations, and for carrying into effect the powers and purposes of the Corporation;

(5)borrow money from public and private sources which shall not be considered public indebtedness of the government of Guam and give such security, therefore, as may be required;

(6)apply for and accept advances, loans, grants, contributions, gifts, donations, appropriations of funds and any other form of financial assistance from any sources, public or private, for the purposes of this Chapter, and enter into and carry out contracts in connection therewith; and

(7)acquire any personal or real property, by lease, option, purchase, gift, grant, donation or bequest.