Sec. 14.21.06.07. Authorization of Executive Director Regarding Sales and Leases

Latest version.

A. The Executive Director, in relation to the conveyance of interests in real property, may:

(1) Initiate or receive offers;

(2) Obtain and evaluate relevant information;

(3) Conduct negotiations; and

(4) Make recommendations to the Board of Directors.

B. Upon approval of a sale or lease as set forth in Regulation .08 of this chapter, the Executive Director shall have the power to execute, on behalf of the Authority, all documents necessary or convenient relating to the approved transaction.

C. The Executive Director is authorized to exercise remedies for default under agreements that have been approved in accordance with Regulation .08 of this chapter.

                    
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