(a) After hearing the evidence presented at the hearings, but not earlier than 75 days after the date the process is initiated by the board of directors described by Section 463.301, the board may adopt a resolution or order:
(1) designating the name of the authority; and
(2) authorizing the appointment of the interim executive committee.
(b) After the hearing, the results of the hearing shall be sent to the Texas Department of Transportation and the comptroller.