Sec. 5. The board may: (1) accept and use gifts, grants, and contributions from any public or private source, under terms and conditions which the board deems necessary and desirable; (2) sue and be sued; (3) enter into contracts and agreements; (4) make rules and regulations necessary for the conduct of its business and the accomplishment of its purposes; and (5) receive and approve, alter, or reject requests and proposals for funding by organizations.
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