(1) The Jackson Metropolitan Area Airport Authority is created and established and full power is vested in the authority to manage, control and enforce all necessary and beneficial matters pertaining to the operation of Jackson-Medgar Wiley Evers International Airport and Hawkins Field Airport. The authority shall have the same powers and duties as a municipal airport authority under this chapter and any other laws pertaining to municipal airport authorities except in respect to the sale or disposal of real property prohibited under subsection (5)(a) of this section.

(2) The Jackson Metropolitan Area Airport Authority shall consist of the following nine (9) commissioners:

(a) The Adjutant General of the Mississippi National Guard, or his designee;

(b) The Executive Director of the Mississippi Development Authority, or his designee;

(c) One (1) commissioner appointed by the Mayor of the City of Jackson appointed for an initial term of one (1) year;

(d) One (1) commissioner appointed by the City Council of the City of Jackson appointed for an initial term of two (2) years;

(e) One (1) commissioner appointed by the Board of Supervisors of Madison County appointed for an initial term of three (3) years;

(f) One (1) commissioner appointed by the Board of Supervisors of Rankin County appointed for an initial term of four (4) years;

(g) Two (2) commissioners appointed by the Governor from the City of Jackson appointed for terms of (5) years one of whom shall be the holder of a valid pilot’s license or certification issued by the Federal Aviation Administration; and

(h) One (1) commissioner appointed by the Lieutenant Governor from the City of Jackson appointed for a term of five (5) years.

(3) Unless otherwise provided in subsection (2) of this section, commissioners appointed under paragraphs (c) through (h) of subsection (2) of this section shall be persons with at least ten (10) years’ experience as a certified public accountant or charter financial analyst, business owners with at least ten (10) years’ experience in executive management, persons with at least ten (10) years’ experience in the aviation industry, persons with at least ten (10) years’ experience in economic development, attorneys with at least ten (10) years’ experience in commercial law, construction law or aviation law, persons who have been holders of a pilot’s license or certification issued by the Federal Aviation Administration for at least ten (10) years, persons with at least ten (10) years’ experience in dealing with public financing transactions, or persons holding certificates of registration as a professional engineer with at least ten (10) years’ experience in the practice of engineering.

(4) After the initial terms, commissioners shall be appointed in the same manner as the original appointment for terms of five (5) years or until their successor is appointed and qualified. Vacancies occurring other than the expiration of a term shall be filled for the unexpired term in the same manner as the original appointment.

(5)

(a) Upon review and approval by the Federal Aviation Administration (FAA) of the Jackson Metropolitan Area Airport Authority as an eligible airport sponsor and the FAA’s review and approval of the issuance of an airport operating certificate under 14 CFR part 139 with respect to the Jackson-Medgar Wiley Evers International Airport, the Jackson Municipal Airport Authority is abolished, and all powers and duties, airport equipment, buildings, facilities, inventories, records, personnel, resources and all other property, real or personal, tangible or intangible, including any pertaining to or generated from revenues of the airport, are transferred to the Jackson Metropolitan Area Airport Authority. The Jackson Metropolitan Area Airport Authority may not, by sale or otherwise, dispose of any real property acquired by transfer in accordance with this paragraph (a) or subsequently acquired by the authority.

(b) Upon the transfer required by paragraph (a) of this subsection, the Jackson Metropolitan Area Airport Authority shall assume all obligations of the Jackson Municipal Airport Authority pertaining to the airport that are in effect at the time of the transfer.