(a) The board shall have the powers and duties as prescribed by Title 10, Chapters 24 through 40 of the Arizona Revised Statutes, including the following:
(1) Assist the City in acquiring land and constructing and acquiring improvements thereon.
(2) Assist the City in constructing and acquiring improvements upon land owned by the City for use as a recreational facility, including baseball and other sports facilities, general municipal and civic activities, and any other land, building improvements or facilities for any other civic, municipal and governmental purpose.
(3) Borrow funds to pay all legal, financial, architectural and incidental expenses incurred.
(4) Repay the principal of and pay the interest accrued on indebtedness incurred.
(5) Make reasonable charges for any services rendered or for assets furnished as applicable.
(6) Hold in trust all funds received by the Corporation in excess of the cost of its operation to be used for the accomplishment of its purpose.
(7) Transfer rights to lands and improvements after indebtedness has been paid.
(8) Perform all other duties prescribed in the Municipal Development Authority governing documents.
(Ord. No. 2021-08, § 40, 4-6-21)