§ 46-12.2-3. Establishment, composition, appointment of directors of the Rhode Island infrastructure
bank.
(a) There is hereby created a body politic and corporate and public instrumentality of
the state having distinct legal existence from the state and not constituting a department
of the state government, to be known as the Rhode Island clean water finance agency,
and, effective September 1, 2015, and thereafter, to be known as the Rhode Island
infrastructure bank. Effective September 1, 2015, whenever, in any general law, public
law, rule, regulation, bylaw and/or otherwise, any reference is made to the Rhode
Island clean water finance agency, by name or otherwise, the reference shall be deemed
to refer to and mean the "Rhode Island infrastructure bank.� The agency shall take
all necessary actions to effectuate this name change, including, but not limited to,
changing the name of the agency on file with any government office. The exercise by
the agency of the powers conferred by this chapter shall be deemed to be the performance
of an essential public function.
(b) Nothing in this act shall be construed to change or modify the corporate existence
of the former Rhode Island clean water finance agency, or to change or modify any
contracts or agreements of any kind by, for, or to which the Rhode Island clean water
finance agency is a party thereto.
(c) The powers of the agency shall be exercised by or under the supervision of a board
of directors consisting of five (5) members, four of whom shall be members of the
public appointed by the governor, with the advice and consent of the senate. The governor
in making these appointments shall give due consideration to persons skilled and experienced
in law, finance, and public administration and give further due consideration to a
recommendation by the general treasurer for one of those appointments. All appointments
made by the governor shall serve for a term of two (2) years. No one shall be eligible
for appointment unless he or she is a resident of this state. The members of the board
of directors as of the effective date of this act [July 15, 2005] who were appointed
to the board of directors by members of the general assembly shall cease to be members
of the board of directors on the effective date of this act. As of the effective date
of this act, the general treasurer or his or her designee, who shall be a subordinate
within the general treasurer's department, shall serve on the board of directors as
an ex-officio member. Those members of the board of directors as of the effective
date of this act who were appointed to the board of directors by the governor shall
continue to serve the balance of their current terms.
(d) Each member of the board of directors shall serve until his or her successor is appointed
and qualified. The appointed member of the board of directors shall be eligible for
reappointment. Any member of the board of directors appointed to fill a vacancy of
a public member on the board shall be appointed by the governor, with the advice and
consent of the senate, for the unexpired term of the vacant position in the same manner
as the member's predecessor as set forth in subsection (c) of this section. The public
members of the board of directors shall be removable by the governor, pursuant to
§ 36-1-7 and for cause only, and removal solely for partisan or personal reasons unrelated
to capacity or fitness for the office shall be unlawful. The governor shall designate
one member of the board of directors to be the chairperson of the agency to serve
in such capacity during his or her term as a member. The board of directors may elect
from among its members such other officers as they deem necessary. Three (3) members
of the board of directors shall constitute a quorum. A majority vote of those present
shall be required for action. No vacancy in the membership of the board of directors
shall impair the right of a quorum to exercise the powers of the board of directors.
The members of the board of directors shall serve without compensation, but each member
shall be reimbursed for all reasonable expenses incurred in the performance of his
or her duties.
(e) Notwithstanding any other provision of general or special law to the contrary, any
member of the board of directors, who is also an officer or employee of the state
or of a local governmental unit or other public body, shall not thereby be precluded
from voting for or acting on behalf of the agency, the state, or local governmental
unit or other public body on any matter involving the agency, the state, or that local
governmental unit or other public body, and any director, officer, employee, or agent
of the agency shall not be precluded from acting for the agency on any particular
matter solely because of any interest therein which is shared generally with a substantial
segment of the public.
(f) In addition to the board of directors, there is hereby created a green infrastructure
strategic advisory council (the "advisory council�). The advisory council shall exist
to advise the board of directors on advances related to green infrastructure, energy
efficiency, and renewable energy and to make recommendations on potential opportunities
for new programs and/or updates to existing programs. The advisory council shall consist
of: the executive director of the Rhode Island Infrastructure Bank, or designee, the
chairperson of the Rhode Island Infrastructure Bank board of directors, or designee,
the secretary of commerce, or designee, the director of the department of environmental
management, or designee, the commissioner of the office of energy resources, or designee,
the director of the department of health, or designee, the director of the department
of transportation, or designee and the executive director of Rhode Island housing,
or designee. The chairperson of the Rhode Island Infrastructure Bank, or designee,
shall serve as chairperson of the advisory council.