Sec 3-1007. Additional powers

A. In addition to the powers which it may now have, the Arizona exposition and state fair board shall have power:

1. To acquire by purchase or gift and to hold and dispose of personal property, or rights or interest therein.

2. To construct all proper exhibition halls, auditoriums and coliseums, and to furnish and equip the same.

3. To borrow money and issue bonds payable solely from the net revenues derived from the operation of the Arizona coliseum and exposition center and all of the facilities thereof, after providing for all expenses of operation and maintenance, and to provide for the rights of the holders hereof. All such bond issues hereinafter approved by the board shall be subject to approval by the legislature.

B. All procurement pursuant to this section shall be made as prescribed in title 41, chapter 23 unless otherwise provided by law.