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) ratification of acquisition of land by negotiated sale;(3) initiation or continuation of legal action, not involving traffic or toll violations;(4) establishment of policies regarding fees, tolls, rates or charges;(5) approval of significant route or schedule changes affecting more than twenty-five percent of a regional transit system; andB. Only an elected official shall be able to vote on resolutions regarding Paragraphs (2) and (6) of Subsection A of this section.C. The board shall promulgate and adhere to policies and procedures that govern its conduct and provide meaningful opportunities for public input. These policies 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 his 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 he believes or has reason to believe that the new financial interest will be directly affected by his official act;(2) use confidential information acquired by virtue of his office or employment for his or another's private gain; or(3) contract with the district without public notice and competitive bidding and full disclosure of his 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 his attention involving a violation of Subsection D of this section. Violation of the provisions of Subsection D 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 Transit 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;(5) maintain offices at a place as the board may designate;(6) appoint, hire and retain employees, agents, engineers, attorneys, accountants, financial advisors, investment bankers and other consultants;(7) prescribe, in accordance with the Procurement Code [13-1-28 to 13-1-199 NMSA 1978], methods for auditing and allowing or rejecting claims and demands for: (a) the awarding of contracts for the construction of improvements, works or structures;(b) the acquisition of equipment; or(c) the performance or furnishing of labor, materials or supplies as may be required for carrying out the purposes of the Regional Transit District Act; and(8) appoint advisory committees and define the duties of the committees.