It appears that water got into the controls and rusted out the transformer and some resistors on the board...

Does have anyone have any idea what this could be? Is it possible to get a new control board? Any help is appreciated!

The box you are showing in the the first photo seems to have been attached to the side of the condenser with a wood screw. Do you know what it is? My guess it was installed by the utility company to cycle the condenser on and off during a brown out. Whatever it is the components are in bad shape. It needs to be replaced or removed.

Thanks Mike, your response seems to make sense and gives my a direction to try figuring It bout... I bought the house 3 years ago. No clue what this is or why a wood screw was used. The box has a gasket and should be waterproof but must have failed. When the box is closed there is a small viewing glass, I imagine there was some sort of indicator light. I will check with the previous owner and electric company and see if the have a clue...

Don't think thats any kind of compressor control board. Water has ruined it. And I think those marks on the board are burnt-out parts.

Thanks weedmeister, I'm starting to believe that it was provided by an old electric company for metering usage during high temperature days to avoid brownouts...