§ 1077. Suffolk county water authority. 1. The corporate existence of the Suffolk county water authority, heretofore created pursuant to the provisions of chapter eight hundred forty-seven of the laws of nineteen hundred thirty-four and thereafter continued pursuant to the provisions of article seven of the county law, is hereby continued for the purposes and charged with the duties and having the powers provided in this title. The authority shall be a body corporate and politic, constituting a public benefit corporation. It shall consist of five members all of whom shall be residents of the county of Suffolk. The present members of the authority shall continue in office until the expiration of their several terms of office and the board of supervisors shall appoint two additional members whose terms of office shall in the first instance be fixed by such board of supervisors in such manner and for such periods of time that the office of one member of the authority shall expire each year. Their successors shall be appointed one member annually by the county board of supervisors for a term of five years. Vacancies in the membership of such authority, other than by expiration of term, shall be filled by the board of supervisors by appointment for the unexpired term. The chairman in office at the effective date of this title shall continue in such office until the expiration of his term of office. Thereafter the chairman of such authority shall be appointed by the county board of supervisors. The members of such authority shall receive such compensation for their services as shall be fixed by the board of supervisors and shall be reimbursed for all necessary and actual expenses incurred in connection with their duties as such members and in connection with the carrying out of the purposes of this title. The power of such authority shall be vested in and exercised by a majority of the members of the authority then in office. Said authority may delegate to one or more of its members, or its agents, or employees, such powers and duties as it may deem proper. The corporate existence of such authority shall continue until its liabilities have been met and its bonds have been paid in full. Upon ceasing to exist, all its rights and property shall pass to the county of Suffolk.

2. Neither the public service commission nor any other board or commission of like character, shall have jurisdiction over the authority in the management and control of its properties or operations or any power over the regulation of rates fixed or charges collected by the authority.

3. It is hereby determined and declared that the authority and the carrying out of its powers, purposes and duties are in all respects for the benefit of the people of the county of Suffolk and the state of New York, for the improvement of their health, welfare and prosperity and that the said purposes are public purposes and that the authority is and will be performing an essential governmental function in the exercise of the powers conferred upon it by this title.