1032                             LAWS OF MARYLAND                       [CH. 714

and shall employ a manager, who shall be secretary. The secretary
and treasurer shall be bonded as the Authority shall direct. Three
(3) members of the Authority shall constitute a quorum, but in no
case shall any action taken by the Authority be taken by an affirmative
vote of less than three (3) members. No vacancy in the membership
of the Authority or disqualification of a member under Para. 266AA
hereof impairs the right of the quorum to exercise all rights and
perform all the duties of the Authority. All members of the Authority
shall be reimbursed for their actual expenses incurred in the per-
formance of their duties.

(E) THE GOVERNOR SHALL APPOINT EITHER THE
STATE TREASURER OR THE STATE COMPTROLLER AS AN
EX OFFICIO MEMBER OF THE AUTHORITY, WITHOUT VOT-
ING RIGHTS EXCEPT IN THE EXCEPTIONAL OCCASION
WHERE HIS VOTE IS REQUIRED TO CONSTITUTE A
QUORUM.

266N. Manager.

(a)   The manager shall be appointed by the Authority, and his
tenure of office shall be at the pleasure of the Authority. He shall be
in the unclassified service.

(b)   The manager shall be the chief administrative officer for the
Authority and as such shall direct and supervise the administrative
affairs and technical activities of the Authority in accordance with
rules, regulations, and policies as set forth by the Authority. It is
the duty of the manager among other things:

(1)   To attend all meetings of the Authority, and to act as its
secretary and keep minutes of all its proceedings.

(2)   To approve all accounts for salaries, per diem payments, and
allowable expenses of the Authority or of any employee or consultant
thereof, and expenses incidental to the operation of the Authority.

(3)   To maintain a close liaison with the Maryland Department of
Economic Development to facilitate the planning and financing of
industrial projects.

(4)   To make recommendations and reports in cooperation with
the Maryland Department of Economic Development to the Authority
on the merits of any proposed industrial project, on the status of
local industrial development corporations, and on meritorious in-
dustrial projects.

(5)  To perform such other duties as may be directed by the Au-
thority in the carrying out of the purposes of this sub-title.

266-O. Definitions.

As used in this sub-title the following words and terms have the
following meanings and unless the context indicates another or dif-
ferent meaning or intent:

(1) "Cost of project" means the aggregate costs incurred after
the approval of a loan determined by the Authority to be reasonably
necessary to the construction, acquisition, rehabilitation, or improve-
ment of a project, including, without intending thereby to limit the