17-2341

Chapter 17.--CORPORATIONS
Article 23.--DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWS

      17-2341.   Commissioners of authority; appointment, qualifications,terms, compensation, meetings, officers.When the governing body of a municipality adopts a resolution asaforesaid, it shall promptly notify the mayor or board of countycommissioners of its adoption. Upon receiving the notice, the mayor orboard of county commissioners shall appoint five (5) persons ascommissioners of the authority created for said municipality.

      The commissioners who are first appointed pursuant to this act shall bedesignated to serve one (1) for one (1) year, one (1) for two (2) years,one (1) for three (3) years and two (2) for four (4) years each, from thedate of their appointment, but thereafter commissioners shall be appointedas aforesaid for a term of office of four (4) years except that allvacancies shall be filled for the unexpired term, all such appointments tobe made by the official or body making the original appointment:Provided, That in any city having a population of more than twohundred fifty thousand (250,000), the governing body of such city mayprovide, as an alternative to the terms hereinabove provided for, thatcommissioners shall serve for terms as follows: Three (3) of suchcommissioners first appointed shall serve for terms of four (4) years andtwo (2) of such commissioners first appointed shall serve for terms of two(2) years, such terms to begin on May 1, 1975; thereafter, upon theexpiration of such terms, successors shall be appointed in eachodd-numbered year to fill the vacancies created, and thereafter eachcommissioner shall serve for a term of four (4) years.

      A commissioner shall receive no compensation for his or her services,but shall be entitled to the necessary expenses, including travelingexpenses, incurred in the discharge of his or her duties. Each commissionershall hold office until his or her successor has been appointed and hasqualified. A certificate of the appointment or reappointment of anycommissioner shall be filed with the authority and this certificate shallbe conclusive evidence of the due and proper appointment of thecommissioner.

      The powers delegated by a municipality to an authority shall be vestedin the commissioners thereof in office from time to time. Three (3)commissioners shall constitute a quorum of such authority for the purposeof conducting its business and exercising its powers and for all otherpurposes, notwithstanding the existence of any vacancies. Action may betaken by the authority upon a vote of a majority of the commissionerspresent, unless in any case the bylaws of the authority shall require alarger number. Meetings of the commissioners of an authority may be heldanywhere within the perimeter boundaries of the area of operation of theauthority or within any additional area where the authority is authorizedto undertake a project. Appointments may be made of any persons ascommissioners of the authority who reside within its boundaries or area,and who are otherwise eligible for such appointments under this act. Thecommissioners of an authority shall elect a chairman and vice-chairman fromamong the commissioners.

      History:   L. 1957, ch. 132, § 5; L. 1973, ch. 96, §3; L. 1975, ch. 138, § 1; Feb. 17.