Sec. 32-203. Lower Fairfield County Conference or Exhibition Authority.
Sec. 32-203. Lower Fairfield County Conference or Exhibition Authority. (a)
There is created a body politic and corporate to be known as the "Lower Fairfield County
Conference or Exhibition Authority". Said authority shall be a public instrumentality
and political subdivision of this state and the exercise by the authority of the powers
conferred by sections 32-200 to 32-212, inclusive, shall be deemed and held to be the
performance of an essential public and governmental function. The Lower Fairfield
County Conference or Exhibition Authority shall not be construed to be a department,
institution or agency of the state.
(b) The authority shall be governed by a board of directors consisting of nine members, one of whom shall be appointed by the Governor; one of whom shall be appointed
by each of the following persons: The president pro tempore, the majority leader and
the minority leader of the Senate, and the speaker, the majority leader and the minority
leader of the House of Representatives; and two of whom shall be appointed by the
mayor of the town and city of Stamford with the approval of the board of representatives.
The terms of the representatives of the town and city of Stamford shall be for four years
each. The powers of the authority shall be vested in and exercised by the board. Four
members of the board shall constitute a quorum and the affirmative vote of a majority
of the members present at a meeting of the board shall be sufficient for any action taken
by the board. No vacancy in the membership of the board shall impair the right of a
quorum to exercise all the rights and perform all the duties of the board. Any action
taken by the board may be authorized by resolution at any regular or special meeting
and shall take effect immediately unless otherwise provided in the resolution. Notice
of any meeting, whether special or regular, shall be given orally, not less than forty-eight hours prior to the meeting. The board may delegate to three or more of its members,
or its officers, agents and employees, such board powers and duties as it may deem
proper.
(c) The chairperson of the board shall be appointed by the Governor, with the advice
and consent of both houses of the General Assembly. The board of directors shall annually elect one of its members as vice-chairperson and shall elect other of its members
as officers, appoint an executive director, who shall not be a member of the board, and
other staff, adopt a budget and bylaws, designate an executive committee, report to
the appointing authorities with respect to operations, finances and achievement of its
economic development objectives, be accountable to and cooperate with the state whenever, pursuant to sections 32-200 to 32-212, inclusive, the state may audit the authority
or the project or at any other time as the state may inquire as to either, including allowing
the state reasonable access to the project and to the records of the authority, and exercise
the powers set forth in said sections. Members of the board of directors shall receive
no compensation for the performance of their duties hereunder but shall be reimbursed
for all expenses reasonably incurred in the performance thereof.
(d) Each member of the board of directors of the authority shall execute a surety
bond in the penal sum of fifty thousand dollars and the executive director shall execute
a surety bond in the penal sum of one hundred thousand dollars, or, in lieu thereof, the
chairperson of the board shall execute a blanket position bond covering each member, the
executive director and the employees of the authority, each surety bond to be conditioned
upon the faithful performance of the duties of the office or offices covered, to be executed
by a surety company authorized to transact business in this state as a surety and to be
approved by the Attorney General and filed in the office of the Secretary of the State.
The cost of each bond shall be paid by the authority.
(e) Notwithstanding any provision of the law to the contrary, it shall not constitute
a conflict of interest for a trustee, director, partner, officer, stockholder, proprietor,
counsel or employee of any person, or for any other individual having a financial interest
in any person, to serve as a member of the board of directors of the authority; provided
such trustee, director, partner, officer, stockholder, proprietor, counsel, employee or
individual shall file with the authority a record of his capacity with or interest in such
person and abstain and absent himself from any deliberation, action and vote by the
board in specific respect to such person.
(f) The authority shall have perpetual succession and shall adopt procedures for the
conduct of its affairs in accordance with section 32-205. Such succession shall continue
as long as the authority shall have bonds, notes or other obligations outstanding and
until the existence of the authority is terminated by law at which time the rights and
properties of the authority shall pass to and be vested in the state.
(P.A. 90-320, S. 4, 14.)