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A municipally owned corporation is a corporation owned by a municipality.They are typically "organisations with independent corporate status, managed by an executive board appointed primarily by local government officials, and with majority public ownership."
There are 12 city corporations in Bangladesh. Two of these are in the capital Dhaka. Eight other divisional cities have a presence, three others. [clarification needed] They perform various socio-economic and civic functions. Besides, there are 330 municipal corporations in eight divisions of Bangladesh. A city corporation is a stronger body ...
The Ponce City Hall, in the city of Ponce, Puerto Rico, is the seat of the government for both the city and the surrounding barrios making up the municipality.. Powers of municipalities range from virtual autonomy to complete subordination to the state.
A mutual-benefit nonprofit corporation or membership corporation, in the United States, is a type of nonprofit corporation chartered by a state government that exists to serve its members in ways other than obtaining and distributing profits to them. Therefore, it cannot obtain IRS 501(c)(3) non-profit status as a charitable organization. [4] [5]
They can be involved in a variety of activities including economic development, education, community organizing and real estate development. These organizations are often associated with the development of affordable housing. The first community development corporation in the United States was the Bedford Stuyvesant Restoration Corporation. [1]
A key purpose of corporatization is externalization. [1] The effect of corporatization has been to convert state departments (or municipal services) into public companies and interpose commercial boards of directors between the shareholding ministers / city council and the management of the enterprises. [5]
Municipalization is the transfer of private entities, assets, service providers, or corporations to public ownership by a municipality, including (but not limited to) a city, county, or public utility district ownership. [1] The transfer may be from private ownership (usually by purchase) or from other levels of government.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....