2006 New York Code - Organization Of Industrial Development Agencies.

 
    § 856. Organization of industrial development agencies. 1.(a) Upon the
  establishment  of an industrial development agency by special act of the
  legislature, the governing body of the municipality  for  whose  benefit
  such  agency  is  established  shall  file  within  six months after the
  effective date of the special act of the legislature  establishing  such
  agency  or  before  the  first day of July, nineteen hundred sixty-nine,
  whichever date shall be later, in the office of the secretary of  state,
  a  certificate setting forth: (1) the date of passage of the special act
  establishing the agency; (2) the name of the agency; (3)  the  names  of
  the  members  and  their terms of office, specifying which member is the
  chairman; and (4) facts establishing the need for the  establishment  of
  an agency in such municipality.
    (b)  Every  such agency shall be perpetual in duration, except that if
  (1) such certificate is not filed with the secretary of state within six
  months after the effective date of the special act  of  the  legislature
  establishing  such  agency  or  before  the  first day of July, nineteen
  hundred sixty-nine, whichever date shall be later,  or  if  (2)  at  the
  expiration  of ten years subsequent to the effective date of the special
  act,  there  shall  be  outstanding  no  bonds  or   other   obligations
  theretofore  issued  by  such  agency  or  by the municipality for or in
  behalf of the agency, then the corporate existence of such agency  shall
  thereupon  terminate and it shall thereupon be deemed to be and shall be
  dissolved.
    (c) On or before March first of each  year,  the  secretary  of  state
  shall  prepare  a list of agencies which failed to file a certificate in
  accordance with provisions of paragraph (a) of this  subdivision  within
  the  preceding  calendar  year  and  transmit a copy of such list to the
  state comptroller and the commissioner of  the  department  of  economic
  development.  On  or before March first of each year the commissioner of
  the department of economic development shall prepare a list of  agencies
  which  have  dissolved  pursuant to paragraph (b) of this subdivision or
  have ceased to exist pursuant to section  eight  hundred  eighty-two  of
  this  chapter  and  shall  transmit  a  copy  of  such list to the state
  comptroller.
    2. An agency shall be a corporate governmental agency, constituting  a
  public  benefit corporation. Except as otherwise provided by special act
  of the legislature, an agency shall consist of not less than  three  nor
  more  than seven members who shall be appointed by the governing body of
  each municipality and who shall serve at the pleasure of the  appointing
  authority. Such members may include representatives of local government,
  school  boards, organized labor and business. A member shall continue to
  hold office until his successor is  appointed  and  has  qualified.  The
  governing  body  of each municipality shall designate the first chairman
  and file with the secretary of state a  certificate  of  appointment  or
  reappointment  of any member. Such members shall receive no compensation
  for their services but shall be  entitled  to  the  necessary  expenses,
  including traveling expenses, incurred in the discharge of their duties.
    3. A majority of the members of an agency shall constitute a quorum.
    4.  Any  one or more of the members of an agency may be an official or
  an employee of the municipality. In the event that  an  official  or  an
  employee  of  the  municipality  shall  be  appointed as a member of the
  agency, acceptance or retention of such appointment shall not be  deemed
  a  forfeiture  of  his  municipal  office or employment, or incompatible
  therewith or affect his tenure or compensation in any way. The  term  of
  office of a member of an agency who is an official or an employee of the
  municipality  when  appointed  as a member thereof by special act of the
  legislature creating the industrial development agency  shall  terminate
  at the expiration of the term of his municipal office.