Okla. Stat. tit. 62, § 62-690.8: Membership of Authority - Appointment - Terms - Officers

- Compensation - Conflict of Interest - Eligibility - Treasurer's

bond.

A. The boards of county commissioners of each member county of

an enterprise district or the governing bodies of each member city

or town of an enterprise district shall appoint, from their

respective counties, cities or towns, no more than five (5) persons

to serve as members of the Authority of the enterprise district.

B. Each Authority member shall have been a qualified elector in

the county from which he is appointed for a period of at least three

(3) years next preceding his appointment.

C. The members of any Authority first appointed shall serve

staggered terms. Thereafter, each successor shall serve for a term

of five (5) years, except that any person appointed to fill a

vacancy shall be appointed to only the unexpired term and any member

shall be eligible for reappointment, and no member shall be removed

except for cause.

D. The members of the Authority shall elect a chairman, a vice-

chairman and a treasurer from among its membership. A majority of

the Authority shall constitute a quorum, the affirmative vote of

which shall be necessary for any action taken by the Authority.

E. A member of the Authority shall receive no compensation for

his services, but shall be reimbursed by the political subdivision

which made his appointment for expenses incurred for attending

meetings of the Authority.

F. During his tenure and for three (3) years thereafter, no

member of an Authority shall own or acquire any interest, direct or

indirect, in any facility included or planned to be included in any

project financed through bonds issued pursuant to this act.

G. No person shall be eligible for appointment as a member of

an Authority who has been convicted of a felony.

H. The treasurer of the Authority shall be bonded in the sum of

One Hundred Thousand Dollars ($100,000.00) conditioned upon faithful

performance of duty and true account of money and proper disposition

of all said money.