Section 7Sec./Art. 7

Powers and Functions of the ZAMBOECOZONE Authority. - the ZAMBOECOZONE Authority shall have the following functions :

a. to operate, administer, and manage the ZAMBOECOZONE according to the principles and provisions set forth in this Act;

b. to recommend to the President the issuance of a proclamation to fix and delimit the site of the ZAMBOECOZONE;

c. to register, regulate and supervise the enterprises in the ZAMBOECOZONE in an efficient and decentralized manner;

d. to regulate and undertake the establishment, operation and maintenance of utilities, other services and infrastructure in the ZAMBOECOZONE such as heat, light and power, water supply, telecommunications, transport, toll roads and bridges, port services, etc., and to fix just, reasonable and competitive rates, fares, charges and prices therefor;

e. to construct, acquire, own, lease, operate and maintain on its own or through others by virtue of contracts, franchises, licenses, or permits under any of the schemes allowed in Republic Act No. 6957 (the build-operate-transfer law), or in joint venture with the private sector, any or all of the public utilities and infrastructure required or needed in the ZAMBOECOZONE in coordination with appropriate national and local government authorities and in conformity with applicable laws thereon;

f. to operate on its own, either directly or through a subsidiary entity, or license to other tourism related activities, including games, amusements and recreational and sports

g. Within the limitation provided by law, to raise or borrow adequate and necessary funds from local or foreign sources to finance its projects and programs under this Act, and for that purpose to issue bonds, promissory notes, and other forms of securities, and to secure the same by a guarantee, pledge, mortgage, deed of trust, or an assignment of all or part of its property or assets;

h. to provide security for the ZAMBOECOZONE in coordination with the national and local governments. for this purpose, the ZAMBOECOZONE Authority may establish and maintain its own security force and firefighting capability or hire others to provide the same;

i. to protect, preserve, maintain and develop the virgin forests, beaches, coral and coral reefs within the ZAMBOECOZONE;

j. to create, operate and/or contract to operate such agencies and functional units or offices of the ZAMBOECOZONE Authority as it may deem necessary,

k. to adopt, alter and use a corporate seal; make contracts, leases, own or otherwise dispose of personal or real property; sue and be sued; and otherwise carry out its functions and duties as provided for in this Act; and

l. to issue rules and regulations consistent with the provisions of this Act as may be necessary to implement and accomplish the purposes, objectives, and policies provided therein.