12-871.   Same; natural gas authority; creation; board; selection, terms,officers; organization; meetings; resolutions.The governing body of any city may itself exercise any authority grantedherein or may by ordinance create and establish an authority to be known as"city of _______________ natural gas authority." The governing andadministrative body of the authority shall be a board consisting of five(5) members, all of whom shall be appointed by the governing body of saidcity. The appointment of the members shall be for a term which shall expireon the expiration date of the term of office of the members of saidgoverning body. Each member shall continue to serve until the appointmentand qualification of a successor. As soon as possible after the appointmentof the initial members, the board shall organize for the transaction ofbusiness, select a chairman and a temporary secretary from its own number,and adopt bylaws, rules and regulations to govern its proceedings. Thechairman and other officers shall be elected annually by the board.

      Regular meetings of the board shall be held at least once in eachcalendar month, the time and place of such meetings to be fixed by theboard. Three (3) members of the board shall constitute a quorum for thetransaction of business. All action of the board shall be by resolution andthe affirmative vote of at least three (3) members shall be necessary forthe adoption of any resolution.

      History:   L. 1974, ch. 260, § 2; March 18.