The executive director shall:
(1)
(a) serve at the pleasure of the board; and
(b) act as the executive officer of the authority;
(2) administer the duties, programs, and functions assigned to the authority;
(3) recommend administrative rules and policies to the board;
(4) execute contracts on behalf of the authority;
(5) recommend to the board any changes in statutes affecting the authority;
(6) recommend to the board an annual administrative budget covering administration, management, and operations of the authority;
(7) with board approval, direct and control authority expenditures; and
(8) within the limitations of the budget, employ personnel, consultants, a financial officer, and legal counsel to provide professional services and advice regarding the administration of the authority.