New York Laws
Title 1 - Nassau County Interim Finance Authority
3653 - Administration of the Authority.

§ 3653. Administration of the authority. 1. The authority shall be
administered by seven directors appointed by the governor. Of the seven
directors, one each shall be appointed on the written recommendation of
the majority leader of the state senate, the speaker of the state
assembly and the state comptroller, respectively. Two of the members
appointed directly by the governor and the members appointed on the
recommendation of the majority leader of the state senate, the
recommendation of the speaker of the state assembly and the
recommendation of the state comptroller shall be residents of the county
of Nassau. Each director shall be appointed for a term of four years,
provided however, that two of the directors first appointed by the
governor shall serve for a term ending December thirty-first, two
thousand four, and the five other directors first appointed shall serve
for the following terms: the directors appointed on recommendation of
the majority leader of the state senate, the speaker of the state
assembly and the state comptroller shall serve for a term ending
December thirty-first, two thousand five and the two remaining directors
first appointed directly by the governor shall serve for a term ending
on December thirty-first, two thousand six. Each director shall hold
office until his or her successor has been appointed and qualified.
Thereafter each director shall serve a term of four years, except that
any director appointed to fill a vacancy shall serve only until the
expiration of his or her predecessor's term.

2. The governor shall designate a chairperson and a vice-chairperson
from among the directors. The chairperson shall preside over all
meetings of the directors and shall have such other duties as the
directors may prescribe. The vice-chairperson shall preside over all
meetings of the directors in the absence of the chairperson and shall
have such other duties as the directors may prescribe.

3. The directors of the authority shall serve without salary, but each
director shall be reimbursed for actual necessary expenses incurred in
the performance of such director's official duties as a director of the
authority.

4. Notwithstanding any inconsistent provision of any general, special
or local law, ordinance, resolution or charter, no officer, member or
employee of the state of New York, any city, county, town or village,
any governmental entity operating any public school or college, any
school district or any other public agency or instrumentality which
exercises governmental powers under the laws of the state, shall forfeit
his or her office or employment by reason of his or her acceptance of
appointment as a director, officer or employee of the authority, nor
shall service as such director, officer or employee of the authority be
deemed incompatible or in conflict with such office or employment.

5. Four directors shall constitute a quorum for the transaction of any
business or the exercise of any power of the authority. No action shall
be taken by the authority except pursuant to a favorable vote of at
least four directors participating in a meeting at which such action is
taken.

6. The authority shall appoint a treasurer and may appoint officers
and agents as it may require and prescribe their duties.

7. At least annually, commencing no more than one year after the date
on which authority bonds are first issued, the authority shall report to
the county executive, county legislature, the county comptroller, the
director of the budget, the speaker of the assembly, the temporary
president of the senate and the state comptroller on the costs financed
by the authority and the amount of such financing for each such cost
over the past year.