(1) A community preservation and development authority shall have the power to:
(a) Accept gifts, grants, loans, or other aid from public or private entities;
(b) Employ and appoint such agents, attorneys, officers, and employees as may be necessary to implement the purposes and duties of an authority;
(c) Contract and enter into partnerships with individuals, associations, corporations, and local, state, and federal governments;
(d) Buy, own, lease, and sell real and personal property;
(e) Hold in trust, improve, and develop land;
(f) Invest, deposit, and reinvest its funds;
(g) Incur debt in furtherance of its mission; and
(h) Lend its funds, property, credit, or services for corporate purposes.
(2) A community preservation and development authority has no power of eminent domain nor any power to levy taxes or special assessments.
(3) A community preservation and development authority that accepts public funds under subsection (1)(a) of this section:
(a) Is subject in all respects to Article VIII, section 5 or 7, as appropriate, of the state Constitution, and to RCW 42.17A.550; and
(b) May not use the funds to support or oppose a candidate, ballot proposition, political party, or political committee.
[ 2011 c 60 § 40; 2009 c 516 § 2; 2007 c 501 § 4.]
NOTES:
Effective date—2011 c 60: See RCW 42.17A.919.