(a) The board may:

(1) Sue and be sued;
(2) Adopt a seal and alter the seal at its pleasure;
(3) Make and execute contracts and other instruments necessary or convenient to the exercise of its powers; and
(4) Adopt bylaws and rules, which shall be exempt from chapter 91, for its organization and internal management, and to carry into effect its purposes, powers, and programs.
(b) In addition to other powers conferred upon it, the board may do all things necessary and convenient to carry out the powers expressly provided in this subpart.