(a)The board shall employ and fix the compensation,
subject to the approval of the governing body, of the following,
who shall serve at the pleasure of the board:
(i)A director, who shall be a person of good moral
character and possessed of a reputation for integrity,
responsibility and business ability. No member of the board is
eligible to hold the position of director. Before entering upon
the duties of his office, the director shall take and subscribe
to the oath of office and furnish a bond as required by the
board. The director is the chief executive officer of the
authority. Subject to the approval of the board and directed by
it when necessary, he shall have general supervision over and be
responsible for the preparation of plans and the performance of
the functions of the author
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(a) The board shall employ and fix the compensation,
subject to the approval of the governing body, of the following,
who shall serve at the pleasure of the board:
(i) A director, who shall be a person of good moral
character and possessed of a reputation for integrity,
responsibility and business ability. No member of the board is
eligible to hold the position of director. Before entering upon
the duties of his office, the director shall take and subscribe
to the oath of office and furnish a bond as required by the
board. The director is the chief executive officer of the
authority. Subject to the approval of the board and directed by
it when necessary, he shall have general supervision over and be
responsible for the preparation of plans and the performance of
the functions of the authority in the manner authorized by this
article. He shall attend all meetings of the board and shall
render to the board and to the governing body a regular report
covering the activities and financial condition of the
authority. In the absence or disability of the director, the
board may designate a qualified person to perform the duties of
the office as acting director. The director shall furnish the
board with such information or reports governing the operation
of the authority as the board may from time to time require;
(ii) A treasurer, who shall keep the financial
records of the authority and who, together with the director,
shall approve all vouchers for the expenditure of funds of the
authority. He shall perform such other duties as may be
delegated to him by the board;
(iii) A secretary, who shall maintain custody of the
official seal, if any, and of all records, books, documents or
other papers not required to be maintained by the treasurer. He
shall attend all meetings of the board and keep a record of all
its proceedings. He shall perform such other duties as may be
delegated to him by the board;
(iv) Upon recommendation of the director, such
clerical, technical and professional assistants, including but
not limited to persons in the fields of engineering, planning
and economic research, as shall, in the opinion of the board, be
necessary to provide for the efficient performance of the
functions of the board.
(b) Upon approval of the governing body of the
municipality and a majority of the persons voting in the
election, called for the purpose of this subsection, owning real
property within the downtown development authority excluding
real property used exclusively for residential purposes, under
election procedures specified by the governing body, an annual
special assessment not to exceed thirty (30) mills against the
assessed value of real property within the downtown development
authority, excluding real property used exclusively for
residential purposes, may be levied. The authorization for the
assessment expires in four (4) years unless reauthorized by the
governing body and persons owning real property within the
district. The assessment shall be levied and collected in the
same manner as the general property tax levy for the
municipality. Proceeds of the assessment may be expended by the
authority for:
(i) Administrative costs;
(ii) Landscaping or maintenance of public areas;
(iii) Planning or management of development or
improvement activities;
(iv) Promotion of public events; and
(v) Activities in support of business recruitment and
development.
(c) All proceeds of the assessment shall be used by the
authority for district activities and improvements.