On approval of petitions authorizing them, LIDs would have the power to: adopt rules and regulations, and fix, enforce, and collect penalties; maintain an office, and adopt a seal; enter in all manner of contracts; “purchase or acquire” or sell real and personal property, including real estate outside the district; construct operate, and administer improvements “for the benefit of the development zone;” borrow or invest money, and accept gifts “from any source, public or private,” and apply for grants; to sue and be sued; to “assess and collect infrastructure improvements;” to hire employees, including a “local improvement district superintendent;” to procure insurance, and to adopt an annual budget – in short , to operate very much like a municipal government, in scaled down form (Sec. 3(d)(6); Sec. 4(a)(1).)