Joint Venture Authorized; Public Television Corporation May be Formed

Joint Venture Authorized; Public Television Corporation May be Formed. (a) Joint Venture. The municipality of Rota through its elected mayor is authorized and empowered to take whatever action necessary to enter into a joint venture agreement with other government entities, with nonprofit corporations, or with private parties or corporations, for the construction, maintenance, and operation of television cable systems on the island of Rota. The municipality may contribute its personnel, its physical facilities, its public equipment, and its financial resources toward implementing such television joint venture. The municipality may own stock or hold and equity position in joint venture corporations. (b) Public Television Corporation. The municipality of Rota, through its mayor, is likewise empowered, in its discretion, to establish a public television corporation and lease operation of such corporation to a private entrepreneur, providing the municipality retains control over basic policies relating to the operation of the public television corporation. The agreement creating a public television corporation shall limit the liability of such corporation to the assets and properties of such corporation in order to prevent recourse to the municipalities assets or credit. Further, such corporation shall have no power of eminent domain nor any power to levy taxes or special assessments. Source: Rota LL 6-7, § 4.