(2) The term of office of directors of an authority may not exceed four years and the directors serve at the pleasure of the governing body of the municipality.
(3) The directors of an authority serve without compensation but may be reimbursed for expenses incurred in the performance of their duties.
(4) The board of directors of an authority shall adopt rules for conducting meetings and carrying out the duties of the board. Decisions of the board must be recorded in a minute book that is a public record. A majority of the directors of the board constitutes a quorum for the transaction of business and a majority of directors present and voting is sufficient for the passage of a motion or a resolution.
(5) The board may employ and compensate employees, bond counsel, financial advisors, feasibility consultants, accountants, attorneys or other advisors that the board deems necessary and appropriate. [2005 c.500 §5]
Note: See note under 530.600.
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