The Authority shall have and exercise each and all of the following powers, but only to the extent necessary or desirable in furtherance of its corporate purpose:

(a) To issue, sell or dispose of revenue bonds and other obligations from time to time under such terms and conditions as I Liheslaturan Guåhan (the Guam Legislature), by appropriate legislation, may prescribe. The proceeds of such bonds and obligations shall be used solely to finance the acquisition and installation of LED streetlights for Guam’s public thoroughfares.

(b) To have perpetual succession, unless sooner terminated by
law.

(c) To adopt, alter and use a corporate seal.

(d) To establish its internal organization and management and
adopt, amend and repeal bylaws and other resolutions and directives governing the conduct of its business, and the performance of the powers and duties granted to or imposed upon it by law.

(e) To enter into contracts and execute all instruments necessary or convenient in the exercise of its powers and sue and be sued in its corporate name.

(f) To determine the character of and the necessity for its obligations and expenditures and the manner in which they shall be incurred, allowed and paid.

(g) To settle and adjust claims held by it against other persons or parties and by other persons or parties against the Authority.

(h) To acquire in accordance with Chapter 5 of Title 5 of the Government Code Annotated, any tangible personal property and to hold, maintain, use and operate the same; and to sell, lease, encumber or otherwise dispose of the same, whenever any of the

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foregoing transactions are deemed necessary or appropriate to the conduct of the activities authorized by this Chapter, and on such terms as may be prescribed by the Authority.

(i) To acquire, in any lawful manner, any intangible personal property, and to hold, maintain, use and operate the same; and to sell, encumber or otherwise dispose of the same, whenever any of the foregoing transactions are deemed necessary or appropriate to the conduct of the activities authorized by this Chapter, and on such terms as may be prescribed by the Authority.

(j) To receive and accept from any source, loans, contributions or grants, in either money, property, labor or other things of value, for, or in aid of, the financing or refinancing of LED streetlights, or for the payment of principal of and interest on bonds issued by the Authority.

(k) To take such action and carry on any other operations and do all that may be necessary or appropriate to carry out the powers and duties herein or hereafter specifically granted to or imposed upon it.