§ 577. Thousand Islands Bridge Authority. 1. A board to be known as "Thousand Islands Bridge Authority" is hereby created. Such board shall be a body corporate and politic constituting a public benefit corporation. It shall consist of five members who shall be appointed by the chairman of the board of supervisors subject to the approval of the supervisors.

2. The term of office of the members of the board hereby created who are first appointed shall be one, two, three, four and five years respectively, dating from January first, nineteen hundred thirty-three, and thereafter the term of office of members shall be five years. In addition, at any time when the authority has control of properties physically situated in Canada, the number of members of such board may, at the option of the supervisors, be increased to seven, any three of whom may be residents or citizens of Canada, with such additional two members to be appointed in the same manner. Members shall hold office until their successors are appointed and qualify. An appointment to fill a vacancy shall be for the unexpired term. The chairman, vice-chairman and secretary of such board shall be elected annually by such board. The members of the board shall be entitled to such compensation, if any, for their services as shall be fixed by the supervisors and shall be entitled to reimbursement for their actual and reasonable expenses incurred in the performance of their official duties. The power of such corporation shall be vested in and exercised by a majority of the members of such board then in office. Such board may delegate to one or more of its members, or to its agents and employees, such powers and duties as it may deem proper.

3. Such board and its corporate existence shall continue until all of its indebtedness created prior to April first, nineteen hundred eighty-one, and all notes and bonds issued as provided in this title shall have been paid in full, and thereafter until such existence is terminated by formal action of the supervisors, which shall specifically provide for the assumption by and agreement of the county to pay any and all liabilities, indebtedness and obligations of the authority.

4. The authority's right to own, control and operate properties or facilities situated within the Dominion of Canada depends and shall continue to depend upon grants in its favor by the federal government of Canada and the government of the province of Ontario, agreements between the authority and such foreign governments, or political subdivisions thereof and by the laws of such foreign jurisdictions.

5. When all of its notes and bonds have been paid in full and all of its other liabilities and obligations have either been met or paid in full or assumed by the county and when the existence of the authority has been terminated by the supervisors as hereinabove provided, then all its rights and properties, so far as the same are located in the United States, including the right to fix, charge and collect tolls for the use of the American channel bridge or bridges, shall be conveyed without cost or expense to the county and all its rights and properties, so far as the same are located in the Dominion of Canada, shall be conveyed without cost or expense to the province of Ontario, or otherwise as the lieutenant-governor in council thereof may designate. Such conveyance to the province of Ontario may also be made in the same manner at any time when the authority's right to own or control or operate properties or facilities in Canada has been terminated even though its existence and right to operate in the state or county may be unimpaired.