There is created the Lamar County Industrial Development Authority which shall be composed of 13 members for the purpose of promoting economic growth and development and assisting the county commission and the city councils of Beaverton, Detroit, Kennedy, Millport, Sulligent, and Vernon, and other like governing bodies. All members of the authority shall be residents and qualified electors of Lamar County.

(1) Seven members of the Lamar County Industrial Development Authority shall be appointed as follows: The Lamar County Commission Chair and the Mayors of Vernon, Sulligent, Millport, Kennedy, Beaverton, and Detroit shall each appoint one member of the authority. The seven members shall serve for terms concurrent with the terms of office of the appointing elected official. Successors to and vacancies in the seven positions shall be appointed in the same manner as the original seven members are appointed. All members shall serve until their successors are appointed. Any person appointed to fill a vacancy shall serve only for the unexpired portion of the term unless reappointed to a full term as a successor.

(2) Six members of the authority shall be appointed by the Lamar County Economic Development Council. All appointments of successors to the six members shall be made by the council and all members shall serve until their successors are appointed. The members of the authority appointed by the Lamar County Economic Development Council shall serve pursuant to the bylaws of the authority. Vacancies in the positions of the six members shall be filled in the same manner as the original six members are appointed. Any person appointed to fill a vacancy shall serve only for the unexpired portion of the term unless reappointed in the manner prescribed for successors to the position.