For the purposes of exercising the specific powers granted in this chapter and effectuating the other purposes of this chapter, the foundation: (1) May be sued and sue; (2) May have a seal and alter it at will; (3) May make, amend, and repeal rules relating to the conduct of the business of the foundation; (4) May enter into contracts relating to the administration of the foundation; (5) May rent, lease, buy or sell property in its own name and may construct or repair buildings necessary to provide space for its operations; (6) May hire personnel, consultants and experts and set salaries; and (7) May perform all other functions and exercise all other powers that are necessary, appropriate or convenient to administer the foundation.
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