Corporate powers and obligations of the Foundation

(a) General authorities The Foundation— (1) may conduct business throughout the States, territories, and possessions of the United States and in foreign countries; (2) shall have its principal offices in the Washington, DC, metropolitan area; and (3) shall continuously maintain a designated agent in Washington, DC, who is authorized to accept notice or service of process on behalf of the Foundation. (b) Authorities In addition to powers explicitly authorized under this Act, the Foundation, in order to carry out the purposes described in section 3(b), shall have the usual powers of a corporation headquartered in Washington, DC, including the authority— (1) to accept, receive, solicit, hold, administer, and use any gift, devise, or bequest, either absolutely or in trust, or real or personal property or any income derived from such gift or property, or other interest in such gift or property; (2) to acquire by donation, gift, devise, purchase, or exchange any real or personal property or interest in such property; (3) unless otherwise required by the instrument of transfer, to sell, donate, lease, invest, reinvest, retain, or otherwise dispose of any property or income derived from such property; (4) to complain and defend itself in any court of competent jurisdiction (except that the Directors of the Board shall not be personally liable, except for gross negligence); (5) to enter into legal arrangements with public agencies, private organizations, and persons and to make such payments as may be necessary to carry out the purposes of such contracts or arrangements; and (6) to engage in funding activities, which may include structured or project financing, grants, equity (provided that returns flow back to the Foundation), and concessional lending, for eligible projects, in accordance with section 7. (c) Federal funds (1) In general The Foundation may— (A) hold Federal funds made available, but not immediately disbursed; and (B) use any interest or other investment income earned on such Federal funds to carry out the purposes of the Foundation under this Act. (2) Limitation Investments by the Foundation made with Federal funds may only be made in— (A) interest-bearing obligations of the United States; or (B) obligations guaranteed as to both principal and interest by the United States. (d) Limitation of public liability The United States shall not be liable for any debts, defaults, acts, or omissions of the Foundation. The Federal Government shall be held harmless from any damages or awards ordered by a court against the Foundation.