§206J-5  Powers; generally.  (a)  The
development corporation shall have all the powers necessary to carry out its
purposes, including the following powers:



(1)  To sue and be sued;



(2)  To have a seal and alter the same at its
pleasure;



(3)  To make and execute contracts and all other
instruments necessary or convenient for the exercise of its powers and
functions under this chapter;



(4)  To make and alter bylaws for its organization and
internal management;



(5)  To adopt rules under chapter 91 necessary to
effectuate this chapter in connection with its projects, operations,
properties, and facilities;



(6)  Through its chief executive officer, to appoint
officers, agents, and employees, prescribe their duties and qualifications, and
fix their salaries, consistent with chapter 76; its chief executive officer may
also appoint officers, agents, and employees, prescribe their duties and
qualifications, and fix their salaries, without regard to chapter 76;



(7)  To prepare or cause to be prepared a development
plan for the Aloha Tower complex, incorporating the needs of the department of
transportation and accommodating the plans, specifications, designs, or
estimates of any project acceptable to the development corporation;



(8)  To own, lease, hold, clear, improve, and
rehabilitate real, personal, or mixed property and to assign, exchange,
transfer, convey, lease, sublease, or encumber any project or improvement,
including easements, constituting part of a project within the Aloha Tower
complex, except that required for necessary maritime purposes, including leases
or other agreements for the rehabilitation, repair, maintenance, and operation
of the Aloha Tower;



(9)  By itself, or in conjunction with qualified
persons, to develop, construct, reconstruct, rehabilitate, improve, alter, or
repair or provide for the development, construction, reconstruction,
rehabilitation, improvement, alteration, or repair of any project, including
projects or any portion thereof under the control or jurisdiction of qualified
persons; to own, hold, assign, transfer, convey, exchange, lease, sublease, or
encumber any project, including projects or any portion thereof under the
control or jurisdiction of qualified persons;



(10)  Notwithstanding any other provision of law to the
contrary, to arrange or initiate appropriate action for the planning,
replanning, opening, grading, relocating, or closing of streets, roads,
roadways, alleys, easements, piers, or other places, the furnishing of
facilities, the acquisition of property or property rights, or the furnishing
of property, development rights, or services in connection with a project;



(11)  To grant options or renew any lease entered into
by it in connection with any project, on terms and conditions as it deems
advisable;



(12)  To prepare or cause to be prepared plans,
specifications, designs, and estimates of project cost for the development,
construction, reconstruction, rehabilitation, improvement, alteration, or
repair of any project, and from time to time to modify such plans, specifications,
designs, or estimates;



(13)  To provide advisory, consultative, training, and
educational services, technical assistance, and advice to any person,
partnership, or corporation, either public or private, in order to carry out
the purposes of this chapter, and engage the services of consultants on a
contractual basis for rendering professional and technical assistance and
advice;



(14)  To procure insurance against any loss in
connection with its property and other assets and operations in such amounts
and from such insurers as it deems desirable;



(15)  To contract for and accept gifts or grants in any
form from any public agency or from any other source;



(16)  To pledge or assign all or any part of the
moneys, rents, charges, or other revenues and any proceeds derived by the
development corporation from proceeds of insurance or condemnation awards, less
guarantees to the harbor special fund for the loss of revenues or incurrence of
costs and expenses because of any action taken by the development corporation;
and



(17)  To issue bonds of the development corporation for
the purpose of providing funds for any of its corporate purposes.



(b)  The development corporation shall impose,
prescribe, and collect rates, rentals, fees, or charges for the lease and use
and services of its projects at least sufficient to pay the costs of operation,
maintenance and repair, if any, of its projects and the required payments of
the principal of and interest on all bonds issued to finance its projects. 
Notwithstanding anything to the contrary contained in this section, the
development corporation may take into account any project costs supplied by
qualified persons in calculating such rates, rentals, fees, or charges, to the
extent that if the qualified persons selected by the development corporation is
willing to underwrite the entire or substantially all of the costs of
development and construction of that project, the development corporation is
empowered to negotiate nominal rentals. [L 1981, c 236, pt of §1; am L 1982, c
250, §3; am L 1988, c 356, §4; am L 1999, c 150, §2; am L 2000, c 253, §150]