SB21,1364,23 (b) Acquire; lease, as lessor or lessee; use; transfer; or accept transfers of property, and assume debt payments and outstanding obligations for the property acquired or accepted.

SB21,1364,24 (c) Improve, maintain, and repair property.

SB21,1365,5 (d) Enter into contracts, subject to such standards as may be established by the district board. The district board may award any such contract for any combination or division of work it designates and may consider any factors in awarding a contract, including price, time for completion of work, and qualifications and past performance of a contractor.

SB21,1365,6 (e) Sell or otherwise dispose of unneeded or unwanted property.

SB21,1365,10 (5) Employ personnel, and fix and regulate their compensation; and provide, either directly or subject to an agreement under s. 66.0301 as a participant in a benefit plan of another governmental entity, any employee benefits, including an employee pension plan.

SB21,1365,13 (6) Purchase insurance, establish and administer a plan of self-insurance or, subject to an agreement with another governmental entity under s. 66.0301, participate in a governmental plan of insurance or self-insurance.

SB21,1365,14 (7) Mortgage, pledge, or otherwise encumber the district's property or funds.

SB21,1365,16 (8) Maintain funds and invest the funds in any investment that the district board considers appropriate.

SB21,1365,18 (9) Promote, advertise, and publicize its sports and entertainment facilities and related activities.

SB21,1365,21 (10) Set standards governing the use of, and the conduct within, its sports and entertainment facilities in order to promote public safety and convenience and to maintain order.

SB21,1365,22 (11) Accept gifts, loans, and other aid.

SB21,1365,23 (12) Adopt and alter an official seal.

SB21,3618 Section 3618. 229.862 of the statutes is created to read:

SB21,1366,4 229.862 Special fund revenues. (1) The district board shall maintain a special fund into which it deposits all funds received under s. 16.527 (3) (d). Moneys in the special fund may be expended only for the construction of sports and entertainment facilities, including the acquisition or lease of property.

SB21,1366,7 (2) The district may not deposit any other moneys into the special fund, except that the district shall credit all earnings on the revenues in the special fund to the special fund.

SB21,1366,9 (3) No money in the special fund may be expended for the purpose of operating or maintaining sports and entertainment facilities or a basketball arena.

SB21,3619 Section 3619. 229.863 of the statutes is created to read:

SB21,1366,12 229.863 Powers granted to local units. (1) In addition to any powers that it may otherwise have, a local unit may do any of the following:

SB21,1366,14 (1) Make grants or loans to a district upon terms that the local unit considers appropriate.

SB21,1366,15 (2) Expend public funds to subsidize a district.

SB21,1366,17 (3) Borrow money under ch. 24 and ss. 66.0621, 67.04, and 67.12 (12) for sports and entertainment facilities or to fund grants, loans, or subsidies to a district.

SB21,1366,19 (4) Lease or transfer property to a district upon terms that the local unit considers appropriate.

SB21,3620 Section 3620. 229.864 of the statutes is created to read:

SB21,1366,23 229.864 Dissolution of a district, lease obligations. (1) A district may not dissolve and wind up its affairs unless obligations issued under s. 16.527 (3) (d) have been retired.

SB21,1367,3 (2) If the district board enters into a lease with a professional basketball team described in s. 229.860 for the use of sports and entertainment facilities, the lease shall include a provision that states that if the team breaks or otherwise fails to fulfill its obligations under the lease, the professional basketball team shall pay the state an amount sufficient to retire the obligations issued under s. 16.527 (3) (d).

SB21,3621 Section 3621. 229.865 of the statutes is created to read:

SB21,1367,10 229.865 Trust funds. All moneys received under this subchapter, whether from the state, from a local unit, or from any other source, are trust funds to be held and applied solely as provided in this subchapter. Any officer with whom, or any bank or trust company with which, those moneys are deposited shall act as trustee of those moneys and shall hold and apply the moneys for the purposes of this subchapter.

SB21,3622 Section 3622. 229.866 of the statutes is created to read:

SB21,1367,18 229.866 Budgets; rates and charges; audit. A district shall adopt a calendar year as its fiscal year for accounting purposes. The district board shall annually prepare a budget for the district. Rates and other charges received by the district shall be used for the general expenses and capital expenditures of the district. A district shall maintain an accounting system in accordance with generally accepted accounting principles and shall have its financial statements audited annually by an independent certified public accountant.