(a) Nomination and Appointment. The Resilience Authority Director shall nominate a candidate for Chief Financial Officer. The Resilience Authority Director shall appoint the candidate to the position upon confirmation of the candidate’s nomination by a majority of the members of the Resilience Authority.
(b) Qualifications. The Chief Financial Officer shall be of good character, integrity, and business experience, and shall meet all requirements of a job description developed by the Resilience Authority Director and approved by the members.
(c) Compensation. The Chief Financial Officer shall receive compensation as may be fixed by the Resilience Authority from time to time.
(d) Financial interest prohibited. Neither the Chief Financial Officer nor the Chief Financial Officer’s grandparent, parent, child, grandchild, step-parent, step-child, sibling, step-sibling, uncle, aunt, niece, or nephew, or the spouse of any of them, may have a financial interest in any project with respect to which the Resilience Authority has jurisdiction or any power or authorization to act.
(e) Surety bond. Before the issuance of any bonds under the provisions of this title, the Chief Financial Officer shall execute a surety bond in a penal sum to be fixed by the Resilience Authority. The surety bond shall be conditioned on the faithful performance of the duties of office and executed by a surety company authorized to transact business in this State as surety. The Resilience Authority shall pay the premium on the bond.
(Bill No. 31-21; Bill No. 23-23)