N.Y. Public Authorities Law § 2490-c: Saratoga Springs city center authority

§ 2490-c. Saratoga Springs city center authority. A board to be known

as the Saratoga Springs city center authority is hereby created. The

board shall be a body corporate and politic, constituting a public

benefit corporation, and its existence shall commence upon the

appointment of the members as herein provided. It shall consist of a

chairman and six other members all of whom shall be appointed by the

mayor with the consent of the city council. Initially, three members

shall be appointed for six years; two members for five years; and two

members for four years. At the expiration of such terms, the terms of

office of their successors shall be six years. Each member shall

continue to serve until the appointment and qualification of his

successor. Vacancies in such board occurring otherwise than by

expiration of term shall be filled for the unexpired term. The mayor, or

his designated representative from the city council, shall serve as an

ex officio, nonvoting member of the board while in office. The board may

delegate to one or more of its members, or to its officers, agents and

employees, such powers and duties as it may deem proper. Members of the

board shall be entitled to no compensation for their services, but shall

be entitled to reimbursement for their actual and necessary expenses

incurred in the performance of their official duties. The powers of the

authority shall be vested in and exercised by a majority of the voting

members of the board then in office. The authority, and its corporate

existence, shall continue only for a period of fifty years, and

thereafter, until all its liabilities have been met and its bonds have

been paid in full or such liabilities or bonds have been otherwise

discharged, except that no additional liabilities may be incurred after

the termination of its corporate existence. Upon its ceasing to exist,

all its rights and property shall pass to the city.