§ 1. Incorporation and powers.

All people residing within the corporate limits of the City of Tulsa, as they exist upon the effective date of this amended Charter, or as they may be established hereafter, shall continue to be a body politic and corporate known as the "CITY OF TULSA," and under that name shall have perpetual succession, may use a common corporate seal, may sue and be sued, may enter into contracts, may acquire property within or without the corporate limits of the City of Tulsa for any corporate purpose, in fee simple or lesser interest or estate, by purchase, gift, devise, lease, or by the exercise of the power of eminent domain, and may sell, lease, hold, manage, and control such property as the interests of the City of Tulsa may require. Except as prohibited by this amended Charter, the City of Tulsa shall have and may exercise all powers, functions, rights, privileges, and immunities of every nature to the fullest extent permitted by and subject only to such limitations imposed by the Constitution of Oklahoma, by such laws of Oklahoma binding upon cities adopting charters for their own government under the authority granted by Article XVIII, Section 3, of the Constitution of Oklahoma, and by the Constitution and laws of the United States of America.