Section 162-G:15-a Action Through Business and Industrial Development Authority.
I. The powers and duties granted by this chapter, unless otherwise expressly provided in this chapter, may be exercised by one or more governmental units acting through one or more business and industrial development authorities established under this section.
II. The legislative bodies in one or more governmental units may establish one or more business and industrial development authorities to exercise such powers and duties in the following manner:
(a) An authority shall consist of a board of directors of not less than 9 nor more than 15 members appointed for 3-year terms. If an authority is formed by a single governmental unit, a majority of the board members shall reside within the boundaries of that governmental unit. If an authority is formed by 2 or more governmental units, each such governmental unit shall be represented on the board, and a majority of the board members shall reside within the boundaries of those governmental units forming such authority. The board members from towns shall be appointed by the board of selectmen or the town council; board members from cities shall be appointed by the mayor subject to the provisions of the city charter. The terms of the initial members of any board so established shall be staggered so that 1/3, or as close to 1/3 as possible, of the board members will be appointed each year.
(b) Each legislative body may provide that such municipal officers as it designates shall serve as ex officio nonvoting members of the board of an authority in addition to those members appointed under subparagraph (a).
III. All actions by an authority under this chapter shall be authorized by resolutions of the board passed on the affirmative votes of at least 2/3 of the board members present and voting, the majority of whom shall reside within the boundaries of the governmental unit or units forming such authority.
IV. Any governmental unit may form and have in operation more than one business and industrial development authority at any time.
Source. 1975, 481:12. 1992, 262:33. 1994, 331:13. 2000, 161:4, eff. July 22, 2000.