(1) The board has the power and authority to:
(a) Adopt a budget and promulgate rules and regulations to carry out the responsibilities of the board and the executive committee under this chapter. The board shall adopt its initial budget and promulgate its initial rules and regulations no later than December 31, 2016.
(b) Make and enter into contracts.
(2) The board shall:
(a) Through its executive committee, initiate investigations and conduct hearings as required by this section;
(b) Manage the Underground Damage Prevention Fund created by Section 77-13-35;
(c) Assess its annual operating cost to operators in an amount equal to the amount necessary to offset the cost of investigative, administrative and legal services and other costs reasonably necessary to carry out its responsibilities under this chapter. The annual operating costs shall be determined after deducting funds available from other sources, including, but not limited to, federal grants, and such annual operating costs shall be apportioned in a proportional manner based on volume of locate requests, and shall be collected by Mississippi 811, Inc., from the operators; and
(d) Subject to the availability of funding in the Underground Damage Prevention Fund created by Section 77-13-35, contract with appropriate individuals, entities or agencies to conduct training and public awareness for damage prevention.
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