Section 73-25-4 - Creation of districtsA. A combination may create a district by contract. Upon the issuance by the commission of a certificate stating that the district has been duly organized according to the provisions of the Regional Transit District Act, the district may exercise the functions conferred by the provisions of that act. The commission shall issue the certificate within thirty days of the filing with the commission of a copy of a contract that fulfills all the requirements set forth in this section and a copy of the bylaws and operating procedures of the district. The commission shall cause the certificate to be recorded in each county having territory included in the boundaries of the district. Upon issuance of the certificate by the commission, the district shall constitute a separate political subdivision of the state and shall have all of the duties, privileges, immunities, rights, liabilities and disabilities of a political subdivision.B. A contract establishing a district shall specify the:(1) name and purpose of the district and the regional transit systems to be provided;(2) establishment and organization of the board in which all legislative power of the district is vested;(3) manner of the appointment, term of service and qualifications, if any, of the directors and the procedure for filling vacancies;(4) officers of the district, the manner of their appointment and their duties;(5) voting requirements for action by the board;(6) provisions for the distribution, disposition or division of the assets of the district;(7) boundaries of the district, which shall not include territory:(a) outside the boundaries of the members of the combination without the consent of the governing body of the governmental unit of the territory; or(b) within the unincorporated boundaries of a county that is not a member of the combination as the unincorporated boundaries of the county exist on the date the district is created without the consent of the governing body of the county;(8) term of the contract and the method by which it may be terminated or rescinded. The contract shall not be terminated or rescinded so long as the district has bonds outstanding;(9) provisions for amendment of the contract;(10) limitations on the powers granted by the Regional Transit District Act that may be exercised by the district; and(11) conditions required when adding or deleting parties to the contract pursuant to Section 18 [73-25-18 NMSA 1978] of the Regional Transit District Act.C. A governmental unit shall not enter into a contract establishing a district without holding at least one public hearing in addition to other requirements imposed by law for public notice. The governmental unit shall give notice of the time, place and purpose of the public hearing by publication in a newspaper of general circulation in the governmental unit at least ten days prior to the date of the public hearing.D. Upon the approval of the governor, the state may join in a contract creating a district. The number of directors of the board to which the state is entitled shall be established in the contract, but in no case shall the state be entitled to less than one director. The governor shall appoint the director or directors representing the state on the board, for a term as established by the contract that created the district.