(a)This act creates the Wyoming community development
authority. The authority is a body corporate operating as a
state instrumentality operated solely for the public benefit.
Its membership consists of ten (10) directors, seven (7) of whom
are appointed by the governor with the advice and consent of the
senate. Not more than seventy-five percent (75%) of the
appointed directors shall be from the same political party.
Directors shall serve for staggered terms of four (4) years
each. No appointed director shall serve more than two (2)
successive four (4) year terms. A director's term may be
terminated by the governor under the same procedure and in the
same manner as provided by W.S. 9-1-202(a) or a majority vote of
the senate. Directors shall continue in office until their
successors are
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(a) This act creates the Wyoming community development
authority. The authority is a body corporate operating as a
state instrumentality operated solely for the public benefit.
Its membership consists of ten (10) directors, seven (7) of whom
are appointed by the governor with the advice and consent of the
senate. Not more than seventy-five percent (75%) of the
appointed directors shall be from the same political party.
Directors shall serve for staggered terms of four (4) years
each. No appointed director shall serve more than two (2)
successive four (4) year terms. A director's term may be
terminated by the governor under the same procedure and in the
same manner as provided by W.S. 9-1-202(a) or a majority vote of
the senate. Directors shall continue in office until their
successors are appointed and qualified. If a vacancy occurs, the
governor shall appoint a successor to serve in accordance with
W.S. 28-12-101. The board of directors shall select one (1) of
its members to act as chairman of the board of directors and one
(1) member to act as treasurer. The board of directors appoints
the executive director of the authority, who serves as the
executive secretary to the board and is the chief executive
officer of the authority. The executive director serves at the
pleasure of the board. The executive director shall be an ex
officio member of the board but may not vote. The governor and
the state treasurer are members of the board and may vote.
(b) The directors, other than the executive director, the
governor and the state treasurer, shall receive compensation for
each day or part thereof in which they are engaged in
performance of their official duties at the same rate as state
legislators and shall be reimbursed for actual and necessary
expenses incurred in the performance of their official duties.
The board shall fix the salary of the executive director.
Subject to the approval of the directors, and pursuant to W.S.
9-7-118 the executive director shall determine the terms of
employment, tenure, duties, working conditions, promotion and
termination of all other employees which the executive director
determines are necessary to carry out the purposes and functions
of the authority. Employees of the authority may be covered by
and subject to the provisions of the Wyoming Retirement Act, the
State Employees and Officials Group Insurance Act and the
Wyoming Deferred Compensation Act.
(c) The authority shall exist perpetually or until
terminated by law. No termination of the authority shall take
effect so long as the authority has bonds and other obligations
outstanding, unless adequate provision has been made for the
payment thereof. Upon termination of the authority, all its
rights and properties shall pass to and be vested in the state.
(d) The board shall determine the date, time, place and
method of notice for all regular meetings of the board. A
majority of the voting directors of the authority constitutes a
quorum for the transaction of any business or the exercise of
any power or function of the authority. All matters shall be
decided by a majority vote of the voting members of the board.
Minutes of board meetings shall be kept, maintained and open to
members of the public. Notice of meetings shall be given to the
public prior to the meetings and meetings shall be open to the
public in accordance with W.S. 16-4-401 through 16-4-408. In
emergency circumstances, as unanimously determined by the board
members, the board may take action by conference telephone or
similar communications equipment whereby all persons
participating in the meeting can hear each other at the same
time. The conversation shall be recorded, immediately
transcribed as minutes of the board, and notice given of their
availability for public review. The finding by the board that an
emergency exists shall be binding and conclusive unless clearly
erroneous.
(e) The authority shall execute and maintain at its
expense a blanket surety bond covering each director, the
executive director and the employees or other officers of the
authority in the penal sum of two hundred fifty thousand dollars
($250,000.00).
(f) Neither the directors, the executive director, the
employees of the authority nor any other person executing bonds
shall be subject to any personal liability by reason of their
issuance.
(g) Notwithstanding any other provision, the directors,
the executive director and the employees of the authority shall
receive approval in advance from the governor prior to traveling
out of state on official business. Except as specifically
provided in this act, the provisions of W.S. 9-2-1001.1 through
9-2-1014.2 and 9-2-3201 through 9-2-3208 do not apply to the
authority.