§9039.105. Board of commissioners; members; officers; finance and development committee

A. A district formed by more than one parish or municipality shall be governed by a board of commissioners consisting of not less than five persons appointed by the governing authority of such participating parish or municipality, provided that at least one member is selected from each parish or municipality within the district. The qualifications of each member shall be determined by the governing authority of each participating parish or municipality.

B. Except as hereinafter provided, the term of office of members of the board shall be four years. All initial appointees shall serve four-year terms. However, a member of the board may be removed at will by the respective appointing authority prior to the expiration of his term.

C. Any member who is absent from fifty percent of the board's meetings, regular and special, in any calendar year shall be disqualified and removed automatically from office and that person's position shall be vacant, as of the first day of the succeeding calendar year. Such vacated position shall be filled by the respective nominating entity for the balance of the vacated term. The former member shall not be eligible for reappointment until expiration of the balance of the vacated term.

D. Any vacancy in the membership of the board occurring by reason of the expiration of the term of office, or by reason of death, resignation, disqualification, or otherwise, shall be filled by the respective appointing entity within thirty days after receipt by such party of written notification of the vacancy. In the event that the participating parish or municipality fails to fill the vacancy within thirty days after receipt of written notification of the vacancy, the board shall appoint an interim successor to serve on the board until the position is filled by the participating parish or municipality responsible for the appointment of such member.

E. Members of the board shall serve without compensation from the district and shall have the power to organize and reorganize the executive, administrative, clerical, and other departments and forces of the district and to fix the duties, powers, and compensation of all employees, agents, and consultants of the district. The board may reimburse any member for expenses actually incurred with the authorization of the board in the performance of his duties on behalf of the district.

F. The board shall elect yearly from its number a chairman, a vice chairman, and a secretary-treasurer and establish their duties as may be regulated in bylaws adopted by the board. The board shall meet in regular session once each quarter and also shall meet in special session as convened by the chairman or upon written notice of two-thirds of the members. A majority of the board members, not including vacancies, shall constitute a quorum. All actions of the board shall be approved by the affirmative vote of a majority of the members present and voting. However, no action of the board shall be authorized on the following matters unless approved by a majority of the total board membership:

(1) Adoption of bylaws and other rules and regulations for conduct of the district's business.

(2) Hiring or firing of the district's executive director.

(3) The incurring of debt, levy of taxes, and the call for any tax or other election.

(4) Sale, lease, or alienation of real property or improvements.

G. The board shall maintain an office at such a place as it may designate.

H. The board is authorized to invest any funds held in reserve or sinking funds, or any monies not required for immediate use or disbursements at the discretion of the district in any investments or securities in which monies of a political subdivision are authorized to be invested.

I. The district may enter into agreements with public entities through which such public entities may agree to share in the costs of operating the district and to pay such charges and fees as may be imposed by the district.

J. The board shall form a finance and development committee of the district composed of either community members and board members or any combination thereof appointed by the board with expertise in the areas of banking, finance, real estate, construction management, and project development and related fields. Its duties shall be established by the board and shall include a mandatory review and approval of all projects involving a capital expenditure equal to or in excess of twenty percent of the annual operating budget of the district. Such committee shall also have primary responsibility for due diligence regarding such projects under guidelines established by this Chapter with respect to projects.

K. Notwithstanding any provision of this Chapter to the contrary, the receipt of funds related to recovery from, or through, the Louisiana Recovery Authority shall be subject to legislative approval as provided in R.S. 49:220.5.

L. Notwithstanding any provision of this Chapter to the contrary, the district shall provide, on a semiannual basis, to the governing authority of each municipality and parish within the district a written report of all activities of the district in the previous six months, including personnel and financial activities and property acquisitions, leases, and dispositions, and also provide a preview of anticipated or planned district activities in the next succeeding six-month period.

Acts 2006, No. 839, §1, eff. July 5, 2006.