A. The city authorizes the establishment and chartering of one or more public corporations, commissions and/or authorities (in this chapter called “Public Corporations”), each as an independent legal entity, to: improve governmental efficiency and services and general living conditions within the city; administer and execute federal grants and programs, receive and administer federal funds; perform all manner and type of community services; provide and implement such municipal services and functions as the city council may direct; and allow a character of community participation in appropriate municipal projects and activities that are, in practical effect, restricted by the organizational structure of city government, all as authorized by RCW 35.21.725 through 35.21.755.

B. Such public corporation shall have the power and authority; be limited by the restrictions and provisions; be organized in accordance with the process and with the structure, purposes and organization provided for by this chapter and the charter. It shall also observe constitutional limitations, incur indebtedness, and be subject to the supervening conditions as set forth in this chapter.

C. All liabilities incurred by such public corporation, commission or authority shall be satisfied exclusively from the assets and credit of such public corporation, commission or authority and no creditor or other person shall have any right of action against the city, town or county creating such corporation, commission or authority on account of any debts, obligations of liabilities of such public corporation, commission or authority. (Ord. 1016-84 § .010, 1984.)