Common use of Grant of Powers Clause in Contracts

Grant of Powers. The Board shall have and may exercise all of the powers granted by Chapter 28E of the Iowa Code or any successor laws, as the same may be amended and supplemented in the future, for the purpose of jointly acquiring and the initial construction of the Airport Facility. In addition the Board shall have the authority to operate and maintain the same for the benefit of all Parties. Without limiting the foregoing, the Board shall have all of the powers set forth in this Agreement including the power to enter into agreements, contracts and similar arrangements, provided that all necessary financing, including the issuance of Bonds, shall be undertaken individually by the Parties in the manner hereinafter specified to fund their respective funding positions.

Grant of Powers. The Board shall have and may exercise all of the powers granted by Chapter 28E and other provisions of the Iowa Code or any successor laws, as the same may be amended and supplemented in the future, for the purpose of jointly acquiring and the initial construction of the Airport Facility. In addition addition, the Board shall have the authority to operate and maintain the same for the benefit of all Parties. Without limiting the foregoing, the Board shall have all of the powers set forth in this Agreement including the power to enter into agreements, contracts and similar arrangements, provided that all necessary financing, including the issuance of Bonds, shall be undertaken individually by the Parties in the manner hereinafter specified to fund their respective funding positions.