The Georgia Tobacco Community Development Board shall have the following powers:

(1) To determine an equitable allocation of private trust funds among tobacco growers and tobacco quota owners within the state;

(2) To certify to private trustees or their delegates instructions for payment of private trust funds to particular eligible tobacco growers and tobacco quota owners;

(3) To contract with private trustees and other persons for its statutory purposes and functions;

(4) To appoint a director to conduct executive functions for the board. The director may be a state officer or employee who shall serve as a borrowed servant at no cost to the board;

(5) To promulgate rules, policies, procedures and the like to guide its activities;

(6) To establish budgets for the allocation of payments of private trust funds, including instructions to trustees to establish a reserve from such payments to be held for payments in future years, as provided by trust indentures;

(7) To expend private trust funds for its administration as permitted by private trust indentures;

(8) To identify other public and private funds for its purposes, including economic relief for other sectors of the tobacco economy in Georgia, and to make similar arrangements for the disbursement of the other funds to tobacco growers, tobacco quota owners, and other sectors of the tobacco economy in Georgia; and

(9) To investigate, determine facts, and conduct such other activities and functions as may be reasonably necessary or convenient to its activities.