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<br />( c) The Corporation shall have all powers afforded by the Minnesota Nonprofit
<br />Corporation Act and by future laws amendatory thereof and supplementary thereto, including the
<br />power:
<br />
<br />(i) to acquire and receive funds and property of every kind and nature whatsoever,
<br />whether by purchase, conveyance, lease, gift, grant, bequest, legacy, devise, or otherwise,
<br />outright or in trust;
<br />
<br />(ii) to hold, own, expend, give, grant, contribute, convey, transfer and dispose of any
<br />funds and property and the income therefrom in furtherance of the above-stated purposes,
<br />and to lease, mortgage, encumber and use the same;
<br />
<br />(iii) to borrow money and incur indebtedness, and in connection therewith to draw, make,
<br />accept, endorse, execute, and issue notes, drafts, bills of exchange, bonds, debentures, or
<br />any other negotiable or non-negotiable instruments or evidences of indebtedness of any
<br />kind or nature whatsoever, and to secure payment thereof and any interest thereon by
<br />mortgage, pledge, deed of trust, assignment or otherwise on, of, or with respect to all or
<br />any part of the Corporation;
<br />
<br />(iv) to invest in, acquire, hold, pledge, sell, exchange, transfer or otherwise dispose of
<br />securities of any nature and to exercise all the rights, powers and privileges of ownership
<br />thereof, including any and all voting rights;
<br />
<br />(v) to act as trustee or co-trustee of trusts and to otherwise act in a fiduciary capacity
<br />when so designated in any inter vivos or testamentary instruments, and in such capacity,
<br />to be named as beneficiary of insurance policies or annuity contracts;
<br />
<br />(vi) to contract with private parties and federal, state, and local governments and their
<br />agencies and instrumentalities;
<br />
<br />(vii) to be a member of other nonprofit corporations; and
<br />
<br />(viii) such other powers which are consistent with the foregoing purposes and which are
<br />afforded by the Minnesota Nonprofit Corporation Act.
<br />
<br />(d)
<br />Minnesota
<br />operations.
<br />
<br />The Corporation elects to be deemed a municipal utility for purposes of
<br />Statutes Chapter 216B and other federal and Minnesota laws regulating utility
<br />
<br />(e) The Corporation shall be deemed a political subdivision of the State of Minnesota
<br />exercising essential governmental functions, for federal and state income tax purposes.
<br />
<br />(f) The Corporation may exercise its powers and carry out its activities anywhere
<br />within and outside of the State of Minnesota.
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