§ 14.36.050. Powers and limitations.

The Inter-Island Ferry Authority may:

1.

Sue and be sued;

2.

Have a seal and alter it at pleasure;

3.

Acquire an interest in transportation facilities, equipment or services as necessary or appropriate to provide financing for the one or more transportation facilities, equipment or services, whether by purchase, gift, or lease;

4.

Lease to others one or more transportation facilities equipment or services acquired by it and upon the terms and conditions the Inter-Island Ferry Authority may consider advisable, including, without limitation, provisions for purchase or renewal;

5.

Sell, by installment sale or otherwise exchange, donate, convey, or encumber in any manner by mortgage or by creation of another security interest, real or personal property owned by it, or in which it has an interest, including one or more transportation facilities, equipment or services, when in the judgment of the Inter-Island Ferry Authority, the action is in furtherance of the Inter-Island Ferry Authority's purposes;

6.

Accept gifts, grant, or loan, and enter into contracts, conveyances or other transactions with a federal agency or an agency or instrumentality of the state, a municipality, private organization, or other person;

7.

Deposit or invest its funds, subject to agreements with bondholders;

8.

Purchase or insure loans to finance the costs of transportation facilities, equipment or services;

9.

Provide security within the boundaries of the Inter-Island Ferry Authority;

10.

Enter into loan agreements with respect to one or more transportation facilities, equipment or services upon the terms and conditions the Inter-Island Ferry Authority considers desirable;

11.

Acquire, manage, and operate one or more transportation facilities, equipment or services as the Inter-Island Ferry [Authority] considers necessary or appropriate to serve the Inter-Island Ferry Authority's purposes;

12.

Assist private lenders to make loans to finance the costs of one or more transportation facilities, equipment or services through loan commitments, short-term financing, or otherwise;

13.

Charge fees or other forms of remuneration for the use or possession of one or more transportation facilities, equipment or services in accordance with the agreements described in this section, other agreements relating to the transportation facilities, equipment or services, covenants, or representations made in bond documents relating to the transportation facilities, equipment or services, or regulations of the Inter-Island Ferry Authority [in] relation to the transportation facilities, equipment or services;

14.

Defend and indemnify a current or former director, employee, or agent of the Inter-Island Ferry Authority against all costs, expenses, judgments, and liabilities, including attorney fees, incurred by or imposed upon that person in connection with civil or criminal action in which the person is involved a result of the person's affiliation with the Inter-Island Ferry Authority and within the scope of the person's official duties and powers;

15.

Purchase insurance to protect and hold harmless its employees, agents, and directors from an action, claim, or proceeding arising out of the performance, purported performance, or failure to perform in good faith, of duties for, or employment with the Inter-Island Ferry Authority and to hold them harmless from expenses connected with the defense, settlement, or monetary judgments from that action, claim, or proceeding; the purchase of insurance is subject to the discretion of the board; insurance purchased under this paragraph may not be considered compensation to the insured person; and

16.

Protect its assets, services, and employees by purchasing insurance or providing for certain self-insurance retention; an authority may also maintain casualty, property, business interruption, marine, boiler and machinery, pollution liability, and other insurance in amounts reasonably calculated to cover potential claims against the Inter-Island Ferry Authority or the participating municipalities for bodily injury, death or disability, and property damage that may arise from or be related to authority operations and activities.

(Ord. No. 09-04, § 5, 10-6-2009)