(a) The authority shall have the duty, power and authority generally to manage, operate and develop Bradley, the general aviation airports and other airports ensuring compliance with all federal obligations the state has incurred with respect to such airports, and specifically to: (1) Develop an organizational and management structure that will best accomplish the goals of Bradley, the general aviation airports and any other airports; (2) Approve all safety, security and federal certification plans, procedures and specifications related to the operation, management and development of Bradley, the general aviation airports and any other airports; (3) Establish rules and regulations for the operation of Bradley, the general aviation airports and any other airports; (4) Fix, establish, revise from time to time, charge and collect all rates, rents, fees and charges for the use of Bradley, the general aviation airports and any other airports, and for the services furnished or to be furnished by the authority, and for the licensing of airports within the state, and to contract with any person, partnership, association or corporation or other body public or private in respect thereof; (5) Approve the annual capital and operating budget of Bradley, the general aviation airports and any other airports; (6) Ensure that the potential of Bradley, the general aviation airports and any other airports as economic development resources for the state and region are fully realized; (7) Ensure that appropriate mission statements, business plans, minimum development standards and sets of strategic goals for Bradley, the general aviation airports and any other airports are established and that progress toward accomplishing the mission and strategic goals is regularly assessed; (8) Approve master plans for Bradley, the general aviation airports and any other airports at the times and in the manner required by the federal aviation administration; (9) Establish and review policies and plans for the development, lease and use of airport property including marketing the airports and for determining the best use of airport property; (10) Ensure customer service standards, performance targets and performance assessment systems are established for enterprises of Bradley, the general aviation airports and any other airports; (11) Approve community relations policies; (12) Create a code of conduct for the board of directors of the authority consistent with part I of chapter 10; (13) Report annually, in accordance with the provisions of section 11-4a , to the Governor and the joint standing committees of the General Assembly having cognizance of matters relating to transportation and commerce; (14) Adopt rules for the conduct of its business which shall not be considered regulations, as defined in section 4-166 ; (15) Receive and accept aid or contributions from any source of money, property, labor or other things of value, to be held, used and applied to carry out the purposes of this chapter subject to such conditions upon which such grants and contributions may be made, including, but not limited to, gifts or grants from any department, agency or instrumentality of the United States or this state for any purpose consistent with sections 15-120aa to 15-120oo , inclusive, and chapter 242; (16) Enter into agreements with any department, agency, office or instrumentality of the United States or this state, including the office of the State Treasurer, to carry out the purposes of sections 15-120aa to 15-120oo , inclusive, and chapter 242; (17) The extent permitted under sections 15-120aa to 15-120oo , inclusive, and chapter 242, borrow money or secure credit on a temporary, short-term, interim or long-term basis; (18) Issue bonds, bond anticipation notes and other obligations of the authority to the extent permitted under sections 15-120aa to 15-120oo , inclusive, and chapter 242, to fund and refund the same and provide for the rights of the holders thereof, and to secure the same by pledge of revenues, notes and mortgages of others; (19) Acquire, lease, hold and dispose of real and personal property for its corporate purposes; (20) Employ such assistants, agents and other employees and to engage consultants and such other independent professionals as may be necessary or desirable to carry out its purposes in accordance with sections 15-120aa to 15-120oo , inclusive, and chapter 242 and, except for such employees who are covered by collective bargaining agreements, to fix their compensation, and to provide technical assistance as provided in sections 15-120aa to 15-120oo , inclusive, and chapter 242; (21) To maintain an office at such place or places as it may designate; (22) To sue and be sued in its own name, and plead and be impleaded; (23) To mortgage any property of the authority for the benefit of the holders of obligations issued by the authority; (24) In connection with, or incidental to, the issuance or carrying of bonds, notes or other obligations of the authority, or acquisition or carrying of any investment or program of investment, to enter into any contract which the authority determines to be necessary or appropriate to place the obligation or investment of the authority, as represented by the bonds, notes or other obligations, investment or program of investment and the contract or contracts, in whole or in part, on the interest rate, currency, cash flow or other basis desired by the authority, including, without limitation, contracts commonly known as interest rate swap agreements, currency swap agreements, forward payment conversion agreements, futures or contracts providing for payments based on levels of, or changes in, interest rates, currency exchange rates, stock or other indices, or contracts to exchange cash flows or a series of payments, or contracts, including, without limitation, interest rate floors or caps, options, puts or calls to hedge payment, currency, rate, spread or similar exposure or, contracts for the purchase of option rights with respect to the mandatory tender for purchase of bonds, notes or other obligations of the authority, which are subject to mandatory tender or redemption, including the issuance of certificates evidencing the right of the owner to exercise such option; (25) In connection with, or incidental to, the issuance or carrying of bonds, notes or other obligations or entering into any of the contracts or agreements referred to in subdivision (24) of this subsection, the authority may enter into credit enhancement or liquidity agreements, with payment, interest rate, currency, security, default, remedy and other terms and conditions as the authority determines; (26) Make and enter into all contracts and agreements necessary or incidental to the performance of its duties and the execution of its powers under this chapter including, but not limited to, the granting of leasehold interests, concession, access and development rights and privileges, supplier, vendor, contractor and consultant contracts; (27) License all airports and heliports within the state pursuant to applicable federal and state rules and regulations and procedures of the authority; (28) Manage and administer any special tax obligation bond allocation for funding improvements to the general aviation airports including the municipal airport set-aside; (29) Manage, direct, establish and control the funds and accounts that comprise the Bradley International Airport Enterprise Fund and the General Aviation Airports Enterprise Fund and the Connecticut Airport Authority Fund; (30) Allocate property or facilities owned, operated or otherwise controlled by the authority to Bradley; (31) Manage and administer the state's aircraft registration program; (32) Manage and administer all federal aid to Bradley, the general aviation airports and other airports including the Federal Aviation Administration's airport improvement program; and (33) Do all acts and things necessary or convenient to carry out the purposes of sections 15-120aa to 15-120oo , inclusive, and chapters 242 and 266a and the powers expressly granted by sections 15-120aa to 15-120oo , inclusive, and chapters 242 and 266a. (b) To serve its purpose, the authority may: (1) Have perpetual succession as a body politic and corporate and to adopt bylaws for the regulation of its affairs and the conduct of its business; (2) Adopt an official seal and alter the same at pleasure; (3) (A) Employ such assistants, agents and other employees as may be necessary or desirable; (B) establish all necessary or appropriate personnel practices and policies; and (C) engage consultants, attorneys and appraisers as may be necessary or desirable to carry out its purposes in accordance with this section; (4) Invest in, acquire, lease, purchase, own, manage, hold and dispose of real property and lease, convey or deal in or enter into agreements with respect to such property on any terms necessary or incidental to carrying out the purposes of sections 15-120aa to 15-120oo , inclusive, provided such transactions shall not be subject to approval, review or regulation by any state agency pursuant to title 4b or any other provision of the general statutes. Notwithstanding this subdivision, the authority shall not convey fee simple ownership in any airport land under its jurisdiction and control without the approval of the State Properties Review Board and the Attorney General; (5) Procure insurance against any liability or loss in connection with its property and other assets, in such amounts and from such insurers as it deems desirable and to procure insurance for employees; and (6) Account for and audit funds of the authority and funds of any recipients of funds from the authority.