(a) There is hereby created and established the Marion County Agriculture and Exhibit Center Authority which shall consist of seven members to be appointed as follows:
(1) One member appointed by the member of the Marion County Commission representing District One.
(2) One member appointed by the member of the Marion County Commission representing District Two.
(3) One member appointed by the member of the Marion County Commission representing District Three.
(4) One member appointed by the member of the Marion County Commission representing District Four.
(5) One member appointed by the member of the Marion County Commission representing District Five.
(6) One member appointed by the state Senator representing Marion County.
(7) One member appointed by the members of the House of Representatives representing Marion County.
(b) The authority shall oversee the construction, management, maintenance, and control of any structure or facility constructed as a center for promoting cattle, horses, and livestock and for agricultural, educational, and civic exhibits. Vacancies on the authority shall be filled in the same manner as the original appointments are made. Members of the authority shall serve without compensation. The authority shall hold at least one annual meeting.
(c) The authority is authorized to do the following:
(1) To locate the exhibition center upon the site selected by the Marion County Commission.
(2) To acquire by purchase, rent, lease agreement, or otherwise the necessary facilities and to provide it with necessary equipment, furnishings, landscaping, and related facilities, including parking areas and ramps, roadways, sewers, curbs, and gutters.
(3) To enter into contracts and cooperative agreements with the local, state, and federal governments, agencies of the governments, private individuals, corporations, associations, and other organizations as the authority may deem necessary or convenient to carry out the purposes of this amendment, the contracts and agreements to include leases to provide for industries.
(4) To accept public or private gifts, grants, and donations.
(5) To acquire property by purchase, lease, or gift.
(6) To sell, convey, transfer, lease, or donate any property, franchise, grant, easement, license, or lease or interest therein which it may own and to transfer, assign, sell, convey, or donate any right, title, or interest which it may have in any lease, contract, agreement, license, or property.
(7) To invest any funds that the authority may determine are not presently needed in the operation of its properties in bonds of the United States of America, bonds of the state, bonds of any county or municipality, and interest-bearing bank deposits.
(8) To employ personnel as may be necessary to accomplish the purposes of this amendment. The personnel employed by the authority shall serve at the pleasure of the authority. The authority shall fix the compensation of the personnel and the compensation shall be paid from any funds of the authority. The authority shall designate the duties of the personnel.
(9) To make rules and regulations as the authority may deem necessary and desirable to provide for the operation, management, and control of the facility.
(10) To perform other acts necessary or incidental to the accomplishment of the purposes of this act, and other acts, including, but not limited to, the employment of legal and accounting assistance, whether or not specifically authorized in the act, and not otherwise prohibited by law.
(d) The county commission may transfer property to the authority for planning for present and future purposes of the authority.