41-5853. Powers and duties of the board A. The board is a body corporate and politic and may have an official seal that is judicially noticed. B. The board may: 1. Sue and be sued in its own name. 2. Contract and enter into agreements as necessary to carry out its responsibilities under this article. 3. Contract with experts, advisers, consultants and agents, including financial experts, legal counsel and other advisers and consultants as may be necessary for services to assist the board. 4. Make and execute contracts and other instruments necessary or convenient for the performance of its duties and the exercise of its power and functions. 5. Pursuant to section 41-5855, approve financing for an achievement district school as guaranteed financing under the program. 6. Do all acts, whether or not expressly authorized, that may be deemed necessary or proper for the protection of the monies in the Arizona public school credit enhancement fund, except that the board may not take any action that would create a general or moral obligation of this state or any agency of the state. 7. Contract with any entity relating to guaranteed financings. 8. cept that the board may not take any action that would create a general or moral obligation of this state or any agency of the state. 7. Contract with any entity relating to guaranteed financings. 8. Issue program funding obligations pursuant to section 41-5857. 9. Adopt rules governing the operation of the program. 10. Take any other action that is necessary or appropriate to carry out this article. C. The division shall provide staff as requested by the board to support the activities of the board.
Arizona Legal Code