(1) The board shall have the exclusive power to enact and enforce such rules and regulations as the board may elect for the use, operations, maintenance, inspection, and preservation of any bridge owned or operated by the commission, including limiting loads permitted on the bridge and closing the bridge to any traffic deemed unsafe by the commission, provided the commission shall comply with all state and federal regulations generally applicable to bridge operations, maintenance, safety, and inspections.

(2) Any facility or property owned, leased, operated, or controlled by the commission may be operated by the commission directly, or by another public or a private entity pursuant to a contract, lease, or agreement that is subject to such terms and conditions as the board may determine.

(3) Compensation to a contractor under an operating contract may be in the form of a payment by the commission to the contractor for services rendered, a payment by the contractor to the commission for the rights to operate the facility or property, or such other arrangements as the board may elect.

(4) A state agency or local government may pledge or grant revenue or other assistance to support or guaranty, in whole or part, the repayment of debt, costs of operations, or capitalization of reserves of the commission under such terms as the commission and the state agency or local government may agree, and the commission may accept such assistance.