Sec 5-804. Administrative powers and duties

A. The board of directors, on behalf of the authority, may:

1. Adopt and use a corporate seal.

2. Sue and be sued.

3. Enter into contracts, including intergovernmental agreements under title 11, chapter 7, article 3, as necessary to carry out the purposes and requirements of this chapter.

4. Enter into an intergovernmental agreement under title 11, chapter 7, article 3 with the Arizona exposition and state fair board for the joint use of properties and facilities, sharing administration, personnel and resources and other matters that are beneficial to the purposes of the multipurpose facility and the state fair.

5. Adopt administrative rules as necessary to administer and operate the authority and any property under its jurisdiction.

6. Acquire by any lawful means and operate, maintain, encumber and dispose of real and personal property and interests in property.

7. Retain legal counsel and other consultants as necessary to carry out the purposes of the authority.

8. Enter into contracts with a professional football league for its championship game or with a nonprofit community based organization that operates or administers an intercollegiate national championship game that provide for the payment to the league or organization of transaction privilege tax revenues derived pursuant to section 42-5073, subsection G, paragraph 1 from sales of admissions to these championship games if the authority has fully paid the current year's required principal and interest payments on any outstanding authority bonds for which these revenues were pledged pursuant to article 3 of this chapter.

9. Enter into contracts with a nonprofit community based organization that sponsors an intercollegiate national championship game that provide for the payment to the organization of a ticket surcharge or facility user fee associated with parking if the authority has fully paid the current year's required principal and interest payments on any outstanding authority bonds for which these revenues were pledged pursuant to article 3 of this chapter.

B. The board of directors shall:

1. Appoint from among its members a chairman, a secretary and such other officers as may be necessary to conduct its business.

2. Employ an executive director and prescribe the terms and conditions of employment.

3. Keep and maintain a complete and accurate record of all of its proceedings. The board is a public body for purposes of title 38, chapter 3, article 3.1 and title 39, chapter 1.

4. Provide for the use, maintenance and operation of the properties and interests owned or controlled by the authority.

5. On or before September 12, 2002, approve a site for the construction of the multipurpose facility proposed at any time before that date by site hosts.