2005 Arizona Revised Statutes - Revised Statutes §36-485  Powers  of board

The board may:

1. Adopt an official seal and alter the same at its pleasure.

2. Maintain an office.

3. Acquire any project or projects on behalf of the authority.

4. Accept grants of money or materials or property of any kind from a federal, state, county or municipal agency or others, on terms and conditions as may be imposed.

5. Waive any privilege or immunity in order to accept any grant, gift, subsidy or contribution when deemed necessary by the board.

6. Issue bonds as provided in this chapter for projects located in this state.

7. Issue bonds as provided in this chapter on behalf of a participating facility that is headquartered in this state for projects located outside or in this state.

8. Act as either lessee or lessor in the manner provided in this chapter.

9. Make and enter into agreements, execute all instruments, perform all acts and do all things necessary or convenient to carry out the powers granted in this chapter.

10. Employ or contract with engineers, architects, attorneys, accountants, construction and financial experts and other persons as may be necessary in its judgment and fix their compensation.

11. Appoint employees as it deems necessary who shall serve at the pleasure of the board and receive compensation as the board shall fix.

12. Issue bonds for the purpose of refunding at or prior to maturity outstanding bonds or other indebtedness of any participating facility.