It shall be the duty of the board and it shall have the power to:
(a) Own, operate, manage, and maintain a passenger and freight rail system within the territory of the district.
(b) Determine the rail transit and freight facilities, including ancillary bicycle and pedestrian pathways, to be acquired and constructed by the district, the manner of operation, and the means to finance them.
(c) Adopt an annual budget for the district that provides for the compensation of its officers and employees.
(d) Fix rates, rentals, charges, and classifications of rail transit and freight service operated by the district.
(e) Adopt an administrative code that prescribes the powers and duties of district officers, the method of appointment of district employees, and the methods, procedures, and systems for the operation and management of the district.
(f) Adopt rules and regulations governing the use of rail transit and freight facilities owned or operated by the district.
(g) Cause a postaudit of the financial transactions and records of the district to be made at least annually by a certified public accountant.
(h) Adopt rules and regulations providing for the administration of employer-employee relations.
(i) Consider potential alternatives to help address the housing needs of current and future employees.
(j) Do any and all things necessary to carry out the purposes of this part.