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(A) The Paris-Bourbon County Economic Development Authority shall be composed of seven (7) members, pursuant to KRS 154.50-316, and three (3) of these members shall be appointed by the Mayor as provided by KRS 154.50-326. A fourth member of the Board shall be jointly appointed by the Mayor and Bourbon County Judge-Executive.
(B) Members of the Authority shall serve for a term of four (4) years each, and until their successors are appointed and qualified, provided, however, that initial appointments shall be made so that one (1) member is appointed for two (2) years, one (1) member for three (3) years, and one (1) member for four (4) years.
(C) Upon expiration of the staggered terms, successors shall be appointed for a term of four (4) years.
(D) No Authority member may be appointed who retains or acquires an interest in any business or industry which the Authority is encouraging to located in Bourbon County and no Authority member may be appointed who retains or acquires an interest in property which the Authority is seeking to acquire or acquires pursuant to the purpose of KRS 154.50-301 to 154.50-346. Such member or members may be replaced by the appointing authority for cause to include such things as misconduct or upon conviction of a felony.
(E) The Mayor shall serve in an ex-officio capacity, as an advisor to the Authority.
(Ord. 95-24, passed 9-26-95; Am. Ord. 2014-7, passed 6-10-14; Am. Ord. 2015-1, passed 2-10-15)