Public authorities, also known as public or government corporations, are business-like organizations that manage, maintain, or regulate the major capital assets of governments such as highways and mass transportation, water and sewer passageways, and construction of universities, hospitals, and other public buildings. They also fund projects by providing investment capital for private economic development. Although they may act like businesses, they are subject to neither laws governing private corporations nor municipal regulation in managing public assets. Public authorities are provided with a broad range of powers that are defined via state statute; they are viewed as instruments of government designed to pursue a specific purpose. Used mainly at the state and local levels of government, public authorities have a voluntary board of directors appointed by ...