(1) The members of the authority shall elect such officers, hold such meetings and establish such rules and regulations as they deem necessary and proper to carry out the authority's functions under the Local Industrial Development Authority Act, KRS 154.50-301 through KRS 154.50-350. The authority shall adopt by-laws covering, among other appropriate matters, election of officers, including, at minimum, a chair, vice-chair, secretary and treasurer, hiring of staff, establishment of the place and time of regular meetings, which must occur at least once per year, the procedure for special meetings, compliance with open meetings and records requirements set out in KRS Chapter 61, standards of conduct for authority members and staff; and operation procedures for conducting authority business. The bylaws may be adopted or amended at any regular meeting or special meeting by a vote of at least a majority of the voting members.
(2) A majority of the membership shall constitute a quorum for conducting business at a regular or duly noticed special meeting. Meetings of the authority may be called by the chairman or by a majority of the members. In case of tie voting by the authority, the issue shall be deemed to have failed passage.
(3) The authority chair shall have supervisory authority over the authority director and staff.
(Ord. No. 87-2018 , § 1, 11-1-18)