The board shall:

1. 1. Determine the exclusive public transportation systems to be acquired and constructed, the means to finance the systems and whether to operate the systems or to let contracts for their operation. In the operation of the public transportation system the board may use public transportation facilities used by a municipality, subject to section 48-5308, subsection F.

2. 2. Approve a request for an election to the board of supervisors for submission of the following issues to the electorate:

   1. (a) Approval of a transportation excise tax authorized by section 42-6106.
   2. (b) Approval of elements of the regional transportation plan developed pursuant to section 48-5309.
   3. (c) Approval of changes in the regional transportation plan pursuant to section 48-5309, subsection B.

3. 3. Produce annually a five year transportation improvement program that is consistent with the regional transportation plan elements and that contains the following:

   1. (a) Projects financed with monies from the regional transportation fund.
   2. (b) A description of each project, including a schedule of expenditures and sources of funding for each project.
   3. (c) The political subdivision with responsibility for project implementation.
4. 4. Assure that projects proposed for federal, state or local funding appear in the authority's transportation improvement program and in the transportation improvement program of the regional council of governments.

5. 5. Not later than January 1 of each year for publication in at least two newspapers of the county in January, assess and analyze the status and implications of the transportation improvement program with respect to the occurrence of substantial change as defined in section 48-5309 and with respect to the potential for or occurrence of the following conditions:

   1. (a) An actual project expenditure that exceeds the project budget amount shown in the first year of the transportation improvement program by five per cent or more.
   2. (b) A project cost amount that exceeds by ten per cent or more the project budget amount that appears in the first year of the transportation improvement program.
   3. (c) First year and five year cumulative projected expenditures for all elements of the regional transportation plan in the five year transportation improvement program that exceed revenue estimates for corresponding periods by twenty per cent or more.
6. 6. Develop supplements to the regional transportation plan that encompass a period of time that is coterminous with the effective period of a transportation excise tax approved pursuant to section 42-6106. A supplement shall not be developed earlier than the fourth year and not later than the second year before the expiration of the regional transportation plan.
7. 7. Adopt an annual budget, hire employees and fix the compensation of its employees.
8. 8. Cause a postaudit of the financial transactions and records of the authority to be made at least annually by a certified public accountant.
9. 9. Adopt rules that are proper or necessary to regulate the use, operation and maintenance of its property and facilities, including its public transportation systems and related transportation facilities and services operating in its area of jurisdiction, and to carry into effect the powers granted to the board.
10. 10. Provide opportunities for involvement in all aspects of the planning and amendment process by all affected interested parties.
11. 11. Appoint advisory committees as it deems necessary.
12. 12. Have sole authority to implement the elements of the regional transportation plan, including authority to contract for, absorb or acquire existing public transportation services as it deems necessary.
13. 13. Coordinate the implementation of the regional transportation plan among the local jurisdictions.
14. 14. Contract for financial, administrative, underwriting and trust services necessary to issue bonds pursuant to sections 48-5341 through 48-5347 and administer the regional transportation fund pursuant to section 48-5307, subsection B.
15. 15. Hire legal counsel to represent the authority in any legal proceeding, accountants and other professional personnel as it deems necessary.
16. 16. Set the priorities of the plan and administer and facilitate the distribution of monies in the regional transportation fund.
17. 17. Delegate to the executive director any of the administrative functions, powers or duties that the board believes the executive director can competently, efficiently and properly perform.
18. 18. Contract and enter into stipulations of any nature necessary and convenient for the full exercise of the powers granted in this chapter.
19. 19. Do all things necessary to carry out the purposes of this chapter.