The secretary has the following powers and duties:
A. develop forms of application for approval of public-private partnerships;
B. review and approve, modify or disapprove specific geographic areas to be designated as trade port districts;
C. review and approve or disapprove proposed public-private partnership agreements for a trade port project, subject to final approval by the state board of finance;
D. modify or terminate existing approvals or designations for failure to meet the requirements of the Trade Ports Development Act;
E. adopt and promulgate rules establishing the application process and criteria for the preliminary approval of public-private partnership agreements, grants and loans in accordance with the provisions of the State Rules Act [Chapter 14, Article 4 NMSA 1978];
F. approve or disapprove applications for grants or loans from the trade ports development fund for trade port projects;
G. consult with the department of transportation on technical issues relevant to the secretary's consideration of an application, including compliance with the statewide transportation improvement program;
H. request updates to any technical information, including any annual certification, provided in connection with an approved application or designation; and
I. take all other actions necessary to implement the Trade Ports Development Act, including entering into joint powers agreements and retaining legal counsel and experts when appropriate.