(a) The board of trustees shall manage the assets and exercise the authority of the council and may adopt, amend, and repeal bylaws and regulations governing the manner in which the business of the council is conducted and the manner in which the council's powers are exercised.
(b) The board of trustees shall employ an executive director who is not a member of the board of trustees to supervise administration of the council. The executive director serves at the pleasure of the board of trustees.
(c) The council is exempt from AS 36.30 (State Procurement Code). The board of trustees shall adopt and publish procedures to govern procurement of supplies, services, professional services, and construction. The procurement procedures must include the preferences of an Alaska bidder and an Alaska veteran that are consistent with the preferences in AS 36.30.321.
(d) The operating budget of the council is subject to AS 37.07 (Executive Budget Act).
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