(a) The authority may employ a qualified executive director who shall have the responsibility of implementing policies and directives of the board of directors and any necessary staff. The executive director shall have a minimum of a bachelor’s degree in economic development, business administration, marketing, finance, economics, public administration, or other related field.
(b) The executive director shall serve at the pleasure of the board. The board shall set the annual salary of the executive director. The board shall provide necessary office space for the authority, which shall be maintained in the county seat.
(c) The appointed members of the board may employ consultants, only upon a unanimous vote of all members of the board at a board meeting attended by all members.
(d) The authority may solicit and receive contributions from other governmental entities, corporations, partnerships, or individuals. The authority shall submit to audits by the Department of Examiners of Public Accounts.
(e) All funds received by the county from the severance tax levied pursuant to Article 3, commencing with Section 40–13–50, of Chapter 13, Title 40, shall be distributed by the Macon County Commission as follows:
(1) Ninety percent to the Macon County Economic Development Authority which shall use the funds for economic development activities.
(2) Ten percent to the Macon County Sheriff’s Department which shall use the funds to defray the cost of enforcing this article.
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