A regional transit district established under this chapter shall be a body corporate and politic and shall have the following powers and duties:

1. I. To adopt a name and corporate seal.
2. II. To sue or be sued, but only to the extent and upon the same conditions that a city or town may be sued.
3. III. To purchase, hold, lease, or use real or personal property for the purposes of operating a public transit system, and to dispose of property by sale, lease, or other means.
4. IV. To accept gifts, grants, or loans of money or other property, and to enter into contracts or other transactions with any federal or state agency, or any other public entity.
5. V. To enter into contracts or agreements with public or private transportation operators or other entities for management or operation of public transit services.
6. VI. To adopt rules governing the operations and affairs of the district.
7. VII. To receive and disburse funds for district purposes.
8. VIII. To publish an annual report and annual financial statement.
9. IX. To fix equitable fares or charges for district services.
10. X. To employ officers and staff necessary to conduct the business of the district.
11. XI. To do all things necessary for the conduct of district business and the efficient operation of public transit services, consistent with the provisions of this chapter.

Source. 1996, 6:2, eff. May 19, 1996.