Establishment of the Toledo Development Corporation

(1) There shall be and is hereby established a body to be called the Toledo Development Corporation which shall be a body corporate with perpetual succession and a common seal with power to purchase, hold and dispose of land and other property of whatever kind, to enter into contracts, to sue and be sued in its corporate name and to do all things necessary for the purposes of this Act. (2) The seal of the Corporation shall be affixed to any instrument in the presence of the Chairperson, but shall not be so affixed except by the authority of a resolution of the Board, and shall be authenticated by the joint signatures of one Director of the Corporation and of the General Manager, and the seal thus authenticated shall be judicially and officially noticed. (3) The seal of the Corporation shall be kept in the custody of the General Manager. 7 (4) Every document purporting to be an instrument issued by the Corporation and sealed with the seal of the Corporation and duly authenticated in the manner provided in this section shall be received in evidence and be deemed to be such an instrument without further proof unless the contrary is shown. (5) The Corporation shall have its principal office in the Toledo District, and may establish other offices in any location within Belize as it considers necessary.