The board of trustees of the Dare County Community Center shall have full power and authority to acquire by purchase, gift, or otherwise, lands, property or equipment for the purpose of carrying out the provisions of this act; to dispose of same by public or private sale; to lease any part of parts of said building or grounds for such consideration as the board of trustees shall deem to be adequate, and any money received in consideration of any such lease shall be used by the board of trustees for the maintenance and improvement of the buildings and grounds; to mortgage or otherwise encumber its property for the purpose of borrowing money in carrying out the provisions of this act; to execute any note or other paper required to complete any loan or other transaction; and to control, manage and operate its buildings and grounds, and to make any rules and regulations necessary for the proper administration of the Dare County Community Center and for the purpose of carrying out the provisions of this act.
(Pub.-Loc. Laws 1939, ch. 542, § 4.)