Section 324.903 - Articles of incorporation; contents(1) A board shall draft and adopt articles of incorporation and bylaws for the administration of the authority.(2) An authority's articles shall state the name of the authority; the name of the participating city and state agency; the purposes for which the authority is formed; the powers, duties, and limitations of the authority and its board; the manner in which participating local and state governmental units shall take part in the governance of the authority; the general method of amending the articles; and any other matters that the board considers advisable.1994, Act 451, Eff. 3/30/1995 .