Section 69Sec./Art. 69

General Powers and Functions of the TIEZA Board. - The TIEZA Board shall have the general powers of a corporation as provided under the Corporation Code. Furthermore, it shall also have the following powers:

(a) Organize the TIEZA in a manner most efficient and economical for the conduct of its business and the implementation of its mandate;

(b) Develop policies, plans and programs in coordination with the Department for the development and operation of TEZs and adopt rules and regulations necessary for the implementation of the provisions of this Act;

(c) Enter into, make, perform and carry out contracts of every class, kind and description which are necessary or incidental to the realization of its purposes with any person, firm or corporation, private or public, and with foreign government entities;

(d) Contract loans, indebtedness and credit, issue commercial papers and bonds, in any local or convertible foreign currency from international financial ,institutions, foreign government entities, and local or foreign private commercial banks or similar institutions under such terms and conditions prescribed by law, rules and regulations;

(e) Execute any deed of guarantee, mortgage, pledge, trust or assignment of any property for the purpose of financing the programs and projects deemed vital fos the early attainment of its goals and objectives, subject to the provisions of Article VI, Section 20 and Article XII, Section 2, paragraphs (4) and (6) of the Constitution;

(f) Construct, own or lease, operate and maintain infrastructure facilities or enter into joint ventures, and grant franchises for, and supervise the operation of, public utilities within TEZs, in coordination with LGUs and agencies concerned;

(g) Undertake, or authorize the undertaking of, reclamation projects within TEZs;

(h) Preserve, restore or reconstruct all national cultural treasures and shrines located within TEZs, in coordination with the National Museum and other concerned agencies;

(i) Receive donations, grants, bequests and assistance of all kinds from local and foreign governments and private sectors and utilize the same;

(j) Exercise eminent domain and police power, including, but not limited to, the power to recommend to the Department the removal of structures which may be considered nuisances per se or which impede or impair the enjoyment of historical, cultural and natural endowments;

(k) Coordinate with LGUs and other government agencies for the provision of basic services, utilities and infrastructure required by TEZs;

(l) Review and approve proposals for the designation of TEZs based on the criteria provided herein, and approve, facilitate and assist in the organization of TEZ operators;

(m) Regulate and supervise the operations of TEZ operators, review and ensure compliance with the development plans, and establish and implement other policies, plans and programs for the development and operation of TEZs;

(n) Register, monitor and regulate enterprises seeking to invest and operate within a TEZ, and approve and grant incentives to such registered enterprises as provided under this Act; and

(o) Exercise the general powers of a corporation.