In addition to the powers and duties prescribed in chapter 617 and the articles and bylaws adopted in compliance with that chapter, the board of directors may:
(1) Make and enter into contracts and other instruments necessary or convenient for the exercise of its powers and functions.
(2) Make expenditures including any necessary administrative expenditure from earnings consistent with its powers.
(3) Adopt, use, and alter a common corporate seal. Notwithstanding any provision of chapter 617 to the contrary, this seal is not required to contain the words “corporation not for profit.”
(4) Adopt, amend, and repeal bylaws, not inconsistent with the powers granted to it or the articles of incorporation, for the administration of the activities of Triumph Gulf Coast, Inc., and the exercise of its corporate powers.
(5) Use the state seal, notwithstanding the provisions of s. 15.03, when appropriate, for standard corporate identity applications. Use of the state seal is not intended to replace use of a corporate seal as provided in this section.
Under no circumstances may the credit of the State of Florida be pledged on behalf of Triumph Gulf Coast, Inc.