Sec. 52.107. - Powers and duties.

The Authority shall have the following powers and duties: (1) To operate with all the powers and authority of a housing finance authority granted under Chapter 159, Part IV, Florida Statutes (F.S. § 159.601 et seq.), except the Authority shall not: (i) Issue tax-exempt revenue bonds without first obtaining the approval of the Council in compliance with the applicable provisions of the United States Internal Revenue Code and regulations promulgated thereunder; (ii) Employ its own legal counsel and shall only utilize the services of the City's Office of General Counsel except as provided in this subsection. With the approval of the General Counsel, and subject to available funding, the Authority may employ specialized outside private counsel, as set forth in Chapter 108 (Central Services), Part 5 (Legal Services), Ordinance Code; and (iii) Exercise any power otherwise prohibited by the Act. (2) To preserve debt, issue new debt, subject to the limitations of this Chapter, and shall shield the City from financial liability. (3) To receive and administer grants from public and private sources. (4) To adopt bylaws, rules, resolutions, and orders prescribing the powers, duties, and functions of the officers of the Authority, the conduct of the business of the Authority, and the maintenance of the records, consistent with Florida Statutes and the Ordinance Code. (5) To approve and execute all contracts and other documents, adopt all proceedings, and perform all acts determined by the Authority to be necessary or desirable to carry out the purposes of this Chapter. (Ord. 2014-185-E, § 2; Ord. 2023-492-E , § 2)