MARVIN MANDEL, Governor                                1113

AMENDMENTS, IT SHALL ENDORSE THEM "APPROVED", AND ISSUE A
CERTIFICATE OF APPROVAL OF THE AMENDMENTS. UPON THE
ISSUANCE OF THIS CERTIFICATE OF APPROVAL, THE AMENDMENTS
ARE EFFECTIVE AND ARE CONCLUSIVELY CONSIDERED TO HAVE
BEEN LAWFULLY AND PROPERLY ADOPTED.

(D) THE DEPARTMENT SHALL RECORD ENDORSED ARTICLES
OF INCORPORATION AND AMENDMENTS IN RECORDS KEPT FOR THAT
PURPOSE.

266A-2.

[[(A) (1) EXCEPT AS PROVIDED]] AN AUTHORITY SHALL
BE CREATED AND OPERATED, AND ITS POWERS EXERCISED, SOLELY

TO ACCOMPLISH ONE OR MORE OF THE FOLLOWING PUBLIC

PURPOSES OF ITS INCORPORATING MUNICIPALITY OR COUNTY:

RELIEF OF CONDITIONS OF UNEMPLOYMENT; ENCOURAGEMENT OF

INCREASE OF INDUSTRY AND A BALANCED ECONOMY; ASSISTANCE

IN RETENTION OF EXISTING INDUSTRY THROUGH CONTROL,

REDUCTION, OR ABATEMENT OF POLLUTION OF THE ENVIRONMENT;

PROMOTION OF ECONOMIC DEVELOPMENT; PROTECTION OF NATURAL

RESOURCES; AND PROMOTION BY MEANS OF THE FOREGOING OF THE

HEALTH, WELFARE, AND SAFETY OF RESIDENTS OF THE

INCORPORATING MUNICIPALITY OR COUNTY. THE INCORPORATING

MUNICIPALITY OR COUNTY MAY UTILIZE THE AUTHORITY'S

EXERCISE OF ITS POWERS TO ACCOMPLISH ONE OR MORE OF THOSE
PUBLIC PURPOSES.

266A-3.

(A) (1) EXCEPT AS RESTRICTED OR LIMITED IN ITS
ARTICLES OF INCORPORATION, AN AUTHORITY SHALL HAVE ALL
POWERS OF ITS INCORPORATING MUNICIPALITY OR COUNTY
ENUMERATED IN §§ 266A THROUGH 266H AND § 266-I(A) THROUGH
(C) OF THIS ARTICLE. HOWEVER, THE INCORPORATING
MUNICIPALITY OR COUNTY IS NOT PRECLUDED FROM EXERCISING
ITS OWN POWERS IN ACCORDANCE WITH THOSE SECTIONS OF THE
CODE BY THE EXISTENCE OF AN INDUSTRIAL DEVELOPMENT
AUTHORITY.

(2) THE BOARD OF DIRECTORS SHALL GOVERN THE
AUTHORITY AND EXERCISE ITS POWERS BY RESOLUTION. A
RESOLUTION ADOPTED BY THE BOARD OF DIRECTORS IS
EQUIVALENT TO ADOPTION OF AN ORDINANCE OF RESOLUTION BY A
MUNICIPALITY OR COUNTY FOR PURPOSES OF THOSE SECTIONS OF
THE CODE.

(3)    THREE VOTING DIRECTORS CONSTITUTE A
QUORUM. HOWEVER, THE BOARD MAY NOT ACT UPON A RESOLUTION
EXCEPT BY THE AFFIRMATIVE VOTE OF AT LEAST THREE VOTING
DIRECTORS.

(4)    EXCEPT AS PROVIDED IN THIS SUBHEADING
AND THE ORDINANCE OR RESOLUTION CREATING AN AUTHORITY,
THE PROCEDURES OF THE INCORPORATING MUNICIPALITY OR
COUNTY SHALL CONTROL ANY MATTER RELATING TO THE INTERNAL
ADMINISTRATION OF THE AUTHORITY.