(1) The department of transportation and the executive director thereof are hereby designated and authorized to take all steps and adopt all procedures necessary to make and enter into such contracts or agreements as are necessary for the state application and administration of any funds made available under the "Federal Transit Act", codified at 49 U.S.C. sec. 5301 et seq.
(2) The authority contained in subsection (1) of this section shall not apply to federal grant funds where there exists a designated recipient for such funds, and funds made available under the "Federal Transit Act", 49 U.S.C. sec. 5309, within the Denver regional transportation district, and funds for other projects in urbanized areas with populations in excess of two hundred thousand persons, except as provided in sections 43-1-601 and 43-1-901.
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