(A) Creation. There is hereby created and established pursuant to the provisions of KRS 154.50-310 et seq., the Paducah-McCracken County Industrial Development Authority.
(B) Composition; appointment of members.
(1) The Industrial Development Authority shall be composed of six members, three of whom shall be appointed by the Mayor of the City of Paducah, and three of whom shall be appointed by the County Judge/Executive of the county.
(2) Appointments made by the County Judge/Executive shall be with the approval of the County Fiscal Court.
(C) Qualifications of members; county and city officials not eligible for membership. All members appointed to the Industrial Development Authority shall reside within the county and each shall have knowledge or experience in matters relating to industry or economic development. No member of the Industrial Development Authority shall hold any office with the county or city.
(D) Terms of members.
(1) Of the initial appointments to the Industrial Development Authority, the County Judge/Executive and Mayor shall each appoint one member for two years, one member for three years and one member for four years.
(2) Thereafter, members of the Industrial Development Authority shall serve for a term of four years each, and until their successors are appointed and qualified.
(E) Powers, functions and duties. The Industrial Development Authority established hereby shall have all the powers, functions and duties authorized by the Local Industrial Development Authority Act, KRS 154.50-301 et seq.
(Ord. 97-2, passed 2-24-1997)