(A) Pursuant to KRS 152.830, there is hereby established the Owensboro-Daviess County Industrial Development Authority.
(B) Pursuant to KRS 152.860, said Authority shall be composed of six members. Three members shall be appointed by the Mayor and three members appointed by the County Judge/Executive. Members of the Authority shall serve for a term of four years each; provided, however, that initial appointments shall be made so that two members are appointed for two years, two members appointed for three years, and two members appointed for four years, with the Mayor and the County Judge/Executive each appointing one member for each time period. Upon expiration of these staggered terms, successors shall be appointed for a term of four years.
(C) The Authority shall have the powers and duties provided for in KRS 152.810 through 152.930, as it presently exists and which may be amended in the future.
(D) Termination of the Authority or the withdrawal by a governmental unit shall be controlled by the provisions in KRS 152.870, as presently it exists and which may be amended in the future.
(E) This section shall become effective immediately upon passage and publication.
(Ord. 150.3, passed 3-13-1991)