The organization will be governed by a Board composed as follows:
(A) Six (6) members, three (3) of whom shall be appointed by the Mayor of Pikeville and three (3) by the 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 two (2) members are appointed for two (2) years, two (2) members for three (3) years, and two (2) members for four (4) years. Upon expiration of these staggered terms, successors shall be appointed for a term of four (4) years.
(C) An Authority member may be replaced by the appointing authority upon a showing to such appointing authority of misconduct of an Authority member or upon conviction of a felony. No Authority member shall hold any official office with the appointing authority.
(D) Members of the Authority shall serve without compensation but may be reimbursed for any actual and necessary expenses incurred by them in the conduct of the affairs of the Authority. The Authority shall, upon the appointment of its members, organize and elect officers. The Authority shall choose a Chairman and Vice Chairman who shall serve for a term of one (1) year.
(E) The Authority shall appoint a Secretary-Treasurer who may be either a member of the Authority or an employee of the Authority. The Authority may fix a salary for the Secretary-Treasurer and he or she shall execute an official bond to be set and approved by the Authority. The Secretary-Treasurer shall keep minutes of all meetings of the Authority and shall also keep a set of books showing the receipts and expenditures for the Authority. He or she shall preserve on file duplicate vouchers of all expenditures and shall present to the Authority, upon request, complete reports of all financial transactions and the financial condition of the Authority. Such books and vouchers shall at all times be subject to examination by the appointing authorities or by the legislative body by whom the Authority is created. The Secretary-Treasurer shall transmit at least yearly a detailed report of all acts and doings of the Authority to the bodies by whom the Authority was created.
(F) The representative of the Pike County Chamber of Commerce and the incumbent Chairman of the Industrial Development Committee of the Pike County Chamber of Commerce shall be considered non-voting members of the Authority. One (1) non-voting liaison shall be appointed from the Pike County Fiscal Court and one (1) non-voting liaison shall be appointed from the Pikeville City Council. One non-voting liaison shall be named by the Big Sandy Area Development District.
(Ord. 07-0-002, passed 2-26-07)