AZ Rev Stat § 48-4203 (2021)
2021 Arizona Revised Statutes|Title 48 - Special Taxing Districts|§ 48-4203 - Powers and duties of board of directors; report; conflict of interest

48-4203.  Powers and duties of board of directors;  report;  conflict of interest  A. The board of directors,  on behalf of the district,  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. The district may contract with a county sports authority established under title 11,  chapter 5 to carry out any power of the district. 4. Adopt administrative rules as necessary to administer and operate the district and any property under its jurisdiction. 5. Adopt rules that allow weighted voting by board members and establish conditions for terminating the district. 6. Employ an executive director and administrative and clerical employees,  or contract for other management personnel,  and prescribe the terms and conditions of their employment as necessary to carry out the purposes of the district. 7. Acquire by any lawful means and operate,  maintain,  encumber and dispose of real and personal property and interests in property. A district established under section 48-4202,  subsection A may acquire real property by eminent domain. A district established under section 48-4202,  subsection B shall not acquire real property by eminent domain. A district established under section 48-4202,  subsection C shall not acquire or own real property or interests in real property. 8. Administer trusts declared or established for the district,  receive and hold in trust or otherwise property located in or out of this state and,  if not otherwise provided,  dispose of the property for the benefit of the district. 9. Retain legal counsel and other consultants as necessary to carry out the purposes of the district. B. The board of directors,  on behalf of a district established pursuant to section 48-4202,  subsection B,  may: 1. Use revenues paid to the district pursuant to section 42-5031 and other revenues the district may receive from other sources,  for the purposes set forth in section 48-4204,  subsection B. 2. Enter into agreements with developers,  contractors,  tenants and other users of all or part of a multipurpose facility as determined appropriate. 3. Pledge all or part of the revenues described in section 42-5031,  subsection B to secure the district's bonds or other financial obligations issued or incurred under this chapter for the construction of all or part of a multipurpose facility. C. The board of directors of a district established pursuant to section 48-4202,  subsection B shall provide public outreach and education on the purpose and activities of the district,  including: 1. Presentations to the governing bodies of the municipalities in the county in which the district is located. 2. Presentations to community,  civic and business organizations. 3. Printed or electronic materials that support the purposes of this subsection. D. 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. The board of directors may appoint the chief financial officer of the county as the district treasurer of a countywide district established under section 48-4202,  subsection A. If the board does not appoint the chief financial officer,  the county treasurer is designated ex officio as the treasurer. The board of directors of a district that is established pursuant to section 48-4202,  subsection B shall designate a member of the board with financial management or accounting experience or a person with whom the board has contracted for financial management as treasurer of the district. The county treasurer is designated ex officio as the treasurer of a district that is established pursuant to section 48-4202,  subsection C. 2. Keep and maintain a complete and accurate record of all its proceedings. All proceedings and records of the board shall be open to the public as required by title 38,  chapter 3,  article 3.1 and title 39,  chapter 1. 3. Provide for the use,  maintenance and operation of the properties and interests controlled by the district. E. The board of directors of a district that is established pursuant to section 48-4202,  subsection B shall: 1. Determine by agreement the distribution of revenues from operating and using the multipurpose facilities among the municipalities and any participating Indian tribe or community. 2. Report to the legislature by October 1 of each year regarding the activities,  operations,  revenues and expenditures of the district for the immediately preceding fiscal year. The board shall submit the annual report to the president of the senate and the speaker of the house of representatives and provide a copy of the report to the secretary of state. At the discretion of the chairpersons of the senate finance committee and the house of representatives ways and means committee,  or their successor committees,  the committees may hold separate or joint hearings to consider the annual report prepared by the district. 3. Present to the joint legislative committee on capital review each project for the construction or reconstruction of any facility,  structure,  infrastructure or other improvement to real property of any kind in an amount exceeding five hundred thousand dollars. F. The directors,  officers and employees of the district are subject to title 38,  chapter 3,  article 8 relating to conflicts of interest.  G. This state and political subdivisions of this state other than the district are not liable for any financial or other obligations of the district and the financial or other obligations do not constitute a debt or liability of this state or any political subdivision of this state,  other than the district.