A. All powers, privileges and duties vested in or imposed upon the district shall be exercised and performed by the board. The board may delegate its powers by resolution to an officer or agent of the board, with the exception of the following: (1) adoption of board policies and procedures;(2) initiation or continuation of legal action;(3) establishment of policies regarding the use of revenues; and(4) request to the authority to issue bonds.B. Only an elected official may vote on resolutions regarding Paragraph (4) of Subsection A of this section.C. The board shall adopt rules to govern its conduct and provide meaningful opportunities for public input, which shall include standards and procedures for calling emergency meetings.D. The board shall be composed of at least one director from each governmental unit that is a member of the district. A director shall be an elected official or the official's designee. A governmental unit shall not have a majority of membership on the board, unless there are three or fewer participating governmental units in the district.E. A director of the board shall not vote on an issue when the director has a conflict of interest. A director of the board, officer of the board or employee of the board shall not: (1) acquire a financial interest in a new or existing business venture or business property of any kind when the person believes or has reason to believe that the new financial interest will be directly affected by the official act;(2) use confidential information acquired by virtue of the person's office or employment for the person's or another's private gain; or(3) contract with the district without public notice and competitive bidding and full disclosure of the person's financial or other interest in the business that is party to the contract.F. The attorney general shall investigate and prosecute, when appropriate, a complaint brought to the attorney general's attention involving a violation of Subsection E of this section. Violation of the provisions of Subsection E of this section by a director of the board, officer of the board or employee of the board is grounds for removal or suspension of the director or officer and dismissal, demotion or suspension of the employee.G. In addition to all other powers conferred by the Regional Spaceport District Act, the board may: (2) fix the time and place of meetings and the method of providing notice of the meetings;(3) make and pass orders and resolutions necessary for the government and management of the affairs of the district and the execution of the powers vested in the district;(4) adopt and use a seal; and(5) appoint advisory committees and define the duties of the committees.