HARRY HUGHES, Governor                              2397

THE AUTHORITY AND THEIR RESPECTIVE POWERS, DUTIES, AND
COMPENSATION AND MAY APPOINT TO OFFICE ANY MEMBER OF THE
BOARD WITH SUCH POWERS, DUTIES; AND COMPENSATION AS THE
BOARD CONSIDERS PROPER.

(IV) EACH AUTHORITY SHALL KEEP A COMPLETE
RECORD OF ITS RECEIPTS, EXPENSES, AND EXPENDITURES AND SHALL
EMPLOY A CERTIFIED PUBLIC ACCOUNTANT TO AUDIT ITS BOOKS AND
ACCOUNTS. EACH AUTHORITY SHALL ALWAYS KEEP AVAILABLE AND
OPEN TO PUBLIC INSPECTION DURING BUSINESS HOURS, AT ITS
PRINCIPAL OFFICE, A DETAILED AUDIT AND FINANCIAL STATEMENT
OF ITS ACCOUNTS. EACH AUTHORITY SHALL FILE ANNUALLY, WITH
THE GOVERNING BODY OF EACH MUNICIPALITY COMPOSING THE
AUTHORITY, A CERTIFIED COPY OF THE DETAILED AUDIT AND
FINANCIAL STATEMENT. THE GOVERNING BODY OF THE MUNICIPALITY
COMPOSING AN AUTHORITY, OR IN THE CASE OF AN AUTHORITY
COMPOSED OF 2 OR MORE MUNICIPALITIES, THE GOVERNING BODY OF
EACH MUNICIPALITY, MAY AT ANY TIME IN PERSON OR BY ITS DULY
AUTHORIZED AGENT OR AGENTS AUDIT AND EXAMINE THE BOOKS AND
RECORDS OF THE AUTHORITY, BUT THE AUDIT OR EXAMINATION SHALL
BE WITHOUT COST TO THE AUTHORITY.

REVISOR'S NOTE: This section formerly appeared as
Article 43, § 449.

The only changes are in style.

9-906. PURPOSE AND POWERS OF AUTHORITY.

(A)  PURPOSE.

EACH AUTHORITY CREATED UNDER THIS SUBTITLE IS AN
INSTRUMENTALITY EXERCISING PUBLIC AND ESSENTIAL GOVERNMENTAL
FUNCTIONS TO PROVIDE FOR THE PUBLIC HEALTH AND WELFARE AND
IS FOR THE PURPOSE OF ACQUIRING, HOLDING, CONSTRUCTING,
RECONSTRUCTING, REPAIRING, IMPROVING, MAINTAINING, AND
OPERATING, OWNING, OR LEASING, EITHER IN THE CAPACITY OF
LESSOR OR LESSEE, A PROJECT OR PROJECTS WITHIN OR PARTLY
WITHIN AND PARTLY WITHOUT 1 OR MORE OF THE MUNICIPALITIES BY
ACTION OF WHOSE GOVERNING BODIES THE AUTHORITY WAS CREATED.

(B)  POWERS.

EVERY AUTHORITY HAS ALL POWERS NECESSARY OR CONVENIENT
FOR THE CARRYING OUT OF THE PURPOSES SET FORTH IN SUBSECTION
(A) OF THIS SECTION, INCLUDING THE FOLLOWING RIGHTS AND
POWERS:

(1) TO HAVE EXISTENCE FOR A TERM OF 50 YEARS AS
A CORPORATION.

(2) TO ADOPT BYLAWS FOR THE REGULATION OF ITS
AFFAIRS AND THE CONDUCT OF ITS BUSINESS.

(3) TO ADOPT AN OFFICIAL SEAL AND ALTER THE