Section 400.5 - Powers and duties of partnership(a) General rule.--The partnership shall have the following powers and duties: (1) To promote, stimulate and encourage competitiveness through interaction of technology development, deployment, modernization and education and training programs.(2) To monitor the development of State and regional plans to maximize coordination and cooperation between the centers.(3) To ensure that the activities of the centers are coordinated to the greatest possible extent with other organizations responsible for these four spheres of business assistance: (i) Technology assistance.(iii) Business development.(iv) Education and training.(4) To coordinate efforts to identify and pursue Federal and State funding opportunities, including opportunities to assist defense-based firms in converting to nondefense activities.(5) To adopt bylaws, regulations and guidelines dealing with the organization, meetings, activities and other considerations as it may deem appropriate and consistent.(6) To make contracts of every name and nature and to execute all instruments necessary or convenient for the carrying on of its business.(7) To conduct examinations and investigations on any relevant material for its information.(8) To review the financial and disclosure information submitted by the centers and request an independent audit of the center's records.(9) To appoint subcommittees, as needed.(10) To sue and be sued, implead and be impleaded, complain and defend in all courts.(11) To approve funding allocations to centers.(12) To accept funds from various sources, including, but not limited to: (i) Separate State appropriations to the Ben Franklin technology centers.(ii) Separate State appropriations to the industrial resource centers.(iii) Any other State appropriations, Federal funds, royalties, gifts, grants, bequests, devises and private funds.(13) To comply with Federal legislation and regulations.(b) Debt restriction.--Notwithstanding any other provisions of this act, the partnership shall not have the authority to issue any bonds, notes or any other obligation evidencing a debt or liability of the partnership, the Commonwealth or any of its political subdivisions.1993, July 2, P.L. 439, No. 64, § 5, effective in 120 days.