A commission may:
1. Acquire and own both real and personal property.
2. Exercise the power of eminent domain, if the city or county which has jurisdiction over the property approves, for the acquisition, construction, repair or maintenance of public roads, or for any other purpose related to public mass transportation.
3. Sell, lease or convey or otherwise dispose of rights, interests or properties.
4. Adopt regulations for:
(a) Financing eligible activities; and
(b) The operation of systems or services provided by the commission.