§ 2304. Auburn industrial development authority. A public benefit
corporation to be known as the "Auburn industrial development authority"
is hereby created. Such board shall be a body corporate and politic,
constituting a public benefit corporation and its existence shall
commence upon the appointment of the members as herein provided. Its
members shall consist of a chairman and eight other members all of whom
shall be appointed by the mayor of the city for a term of three years,
and shall include two members of the common council of the city, one
representative of the city school board and one representative from each
of the fields of business, industry and labor. Every appointment to the
board shall be subject to confirmation by the common council of the
city. The chairman and each member shall continue to serve until the
appointment and confirmation of his successor. Vacancies in such board
occurring otherwise than by expiration of term shall be filled by the
mayor by appointment for the unexpired term subject to confirmation of
the common council of the city. The mayor may remove the chairman or any
member of the board for inefficiency, neglect of duty or misconduct in
office, after giving him a copy of the charges against him and an
opportunity of being heard in person, or by counsel, in his defense upon
not less than ten days' notice. Such removal must be approved by the
common council of the city. The members of the board shall be entitled
to no compensation for their services but shall be entitled to
reimbursement for their actual and necessary expenses incurred in the
performance of their official duties. Notwithstanding any inconsistent
provisions of law, general, special or local, no officer or employee of
the city shall be deemed to have forfeited or shall forfeit his office
or employment by reason of his acceptance of membership of the authority
created by this article, provided, however, that a member who holds such
other public office or employment shall receive no additional
compensation or allowance for services rendered pursuant to this title,
but shall be entitled to reimbursement for his actual and necessary
expenses incurred in the performance of such services. The power of the
authority shall be vested in and exercised by a majority of the members
of the authority. The authority may delegate to one or more of its
members, or to its officers, agents and employees, such powers and
duties as it may deem proper. Such board and its corporate existence
shall continue only for a period of ten years and thereafter until all
its liabilities have been met and its bonds have been paid in full or
such liabilities or bonds have otherwise been discharged. Upon its
ceasing to exist, all rights and properties shall pass to and be vested
in the city.