A municipality enters into a contract with a private taxicab company by which the municipality agrees to pay to the company a fee, in return for which the taxi company agrees to provide free service from midnight until 5 a.m. Under the contract, the city and the company establish a five-person board of directors to oversee the nocturnal taxi service. Public officials occupy two of those director positions. Over the objection of the two public directors, the taxi company refuses to permit "punks" (which it describes as people with odd or unusual body piercing, hair styles, ragged clothing, or any combination of the above) to ride the cabs. Is state action present? Does it matter if the public directors do not object, or vote in favor of the idea?