Section 10.40.070 - Corporate powersA corporation organized under this chapter may
(1) acquire by donation, gift, bequest, devise or purchase, and hold and maintain real and personal property, and grant, sell, convey or otherwise dispose of property as may be necessary to carry on or promote the objects of the corporation, but not for the purpose of obtaining revenue or profits from the property;(2) borrow money and give written obligations for repayment, and give mortgages or other liens upon real or personal property to secure payment of written obligations, when necessary to promote the objects of the corporation;(3) enter into contracts;(5) adopt and use a common seal by which all deeds and acts of the corporation may be authenticated.