The Town of Clarkdale Municipal Property Corporation, an Arizona nonprofit corporation, was incorporated in 1996 and operates under the bylaws of the Town of Clarkdale Municipal Property Corporation, which are on file with in the office of the Town Clerk. The “Corporation” was formed to transact any or all lawful business for which nonprofit corporations may be incorporated under the laws of the State of Arizona, including, without limiting the generality of the foregoing, any civic or charitable purpose such as financing or refinancing the cost of acquiring, constructing, reconstructing or improving buildings, equipment or other real and personal properties suitable for use by and for leasing to the Town of Clarkdale, Arizona, a municipal corporation incorporated and existing pursuant to the laws of the State of Arizona. [Prior code Art. 17-8.]