Alabama 2025 Regular Session

Alabama Senate Bill SB95 Compare Versions

Version 1 (Old)

Version 2 (New)

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3	3		SB95
4		-	KXE15UA-2
	4	+	KXE15UA-1
5	5		By Senator Chesteen
6	6		RFD: Fiscal Responsibility and Economic Development
7	7		First Read: 05-Feb-25
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12		-	5 ~~SB95 Engrossed~~
	12	+	5 KXE15UA-1 02/03/2025 OW (L)bm 2025-472
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14	14		First Read: 05-Feb-25
	15	+	SYNOPSIS:
	16	+	The Alabama Municipal Electric Authority is a
	17	+	public corporation that provides or makes available
	18	+	alternative sources of bulk electric power and energy
	19	+	for municipalities that own and operate electric
	20	+	distribution systems. The authority is governed by a
	21	+	board of directors. Members of the board of directors
	22	+	may be compensated, upon the unanimous vote of all
	23	+	board members, at a rate not to exceed $600.
	24	+	This bill would provide that, in lieu of
	25	+	compensation, board members may be paid a monthly fee
	26	+	not to exceed $1,750 and the chair may be paid a
	27	+	monthly fee not to exceed $2,000.
15	28		A BILL
16	29		TO BE ENTITLED
17	30		AN ACT
18	31		Relating to the Alabama Municipal Electric Authority;
19	32		to amend Section 11-50A-6 of the Code of Alabama 1975, to
20	33		increase the amount of the director's fees authorized to be
21	34		paid, at the discretion of the board, to the members of the
22	35		board of directors and the chairman for each meeting of the
23	36		board.
24		-	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
25		-	Section 1. Section 11-50A-6 of the Code of Alabama
26		-	1975, is amended to read as follows:
27		-	"§11-50A-6
28		-	(a) The board of directors of the authority shall be
29		-	elected by the duly designated representatives of the
30		-	municipalities which that are authorized and directed to
31		-	designate a member of the election committee as hereinafter
32		-	provided in this section. Until the first meeting of the board
33		-	of directors following the meeting in 2015 of the election
34		-	committee hereinafter provided for, the board of directors
35		-	shall consist of nine members ; thereafter,. Thereafter, the
36		-	board shall consist of the number of members equal to the
37		-	number of municipalities contracting with the authority for
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	66	+	board.
	67	+	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
	68	+	Section 1. Section 11-50A-6 of the Code of Alabama
	69	+	1975, is amended to read as follows:
	70	+	"§11-50A-6
	71	+	(a) The board of directors of the authority shall be
	72	+	elected by the duly designated representatives of the
	73	+	municipalities which that are authorized and directed to
	74	+	designate a member of the election committee as hereinafter
	75	+	provided in this section. Until the first meeting of the board
	76	+	of directors following the meeting in 2015 of the election
	77	+	committee hereinafter provided for, the board of directors
	78	+	shall consist of nine members ; thereafter,. Thereafter, the
	79	+	board shall consist of the number of members equal to the
67	80		number of municipalities contracting with the authority for
68	81		the purchase of electric power and energy pursuant to Section
69	82		11-50A-17, which are authorized and directed to designate a
70	83		member of the election committee. Members of the board of
71	84		directors shall be eligible to succeed themselves. The
72	85		business, affairs, and property of the authority shall be
73	86		managed by its board of directors.
74	87		(b)(1) On or before the ninetieth day following May 18,
75	88		1981, the governing body of each municipality which shall have
76	89		that has, prior to that ninetieth day, by proper resolution
77	90		declared its intention to contract with the authority for the
78	91		purchase of electric power and energy pursuant to Section
79	92		11-50A-17, provided there shall be as many as five such
80	93		municipalities, shall designate one individual who shall be a
81	94		duly qualified elector of that municipality as its
82		-	representative on the Alabama Municipal Electric Authority
83		-	membership election committee which is herein designated as
84		-	the election committee. The resolution of the governing body
85		-	of each municipality may at any time be repealed in the manner
86		-	provided by law for repeal of resolutions by the governing
87		-	body; provided, that repeal of a resolution after the date of
88		-	incorporation of the authority shall not affect the existence
89		-	of the authority or the validity or enforceability of any
90		-	contract entered into by the municipality with the authority.
91		-	Each resolution declaring the intention of the municipality to
92		-	contract with the authority shall state the amount of electric
93		-	power and energy purchased from all sources by the
94		-	municipality during the immediately preceding calendar year
95		-	and shall be presented to the election committee at its first
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	124	+	duly qualified elector of that municipality as its
	125	+	representative on the Alabama Municipal Electric Authority
	126	+	membership election committee which is herein designated as
	127	+	the election committee. The resolution of the governing body
	128	+	of each municipality may at any time be repealed in the manner
	129	+	provided by law for repeal of resolutions by the governing
	130	+	body; provided, that repeal of a resolution after the date of
	131	+	incorporation of the authority shall not affect the existence
	132	+	of the authority or the validity or enforceability of any
	133	+	contract entered into by the municipality with the authority.
	134	+	Each resolution declaring the intention of the municipality to
	135	+	contract with the authority shall state the amount of electric
	136	+	power and energy purchased from all sources by the
	137	+	municipality during the immediately preceding calendar year
125	138		and shall be presented to the election committee at its first
126	139		meeting which shall be held at the State Capitol located in
127	140		the City of Montgomery, Alabama, at 11 o'clock A.M. a.m.,
128	141		Montgomery time, on the first Monday following the ninetieth
129	142		day following May 18, 1981. At that meeting, which shall not
130	143		precede the issuance of the authority's certificate of
131	144		incorporation by the Secretary of State as provided in Section
132	145		11-50A-5, the election committee shall organize and elect a
133	146		chairman chair and any other officers which may be desirable
134	147		in the determination of the election committee. The election
135	148		committee shall then determine the sufficiency of the
136	149		resolutions presented to it, the accuracy of the factual
137	150		representations made therein, and the number of votes ,
138	151		(including fractions thereof ), which each member of the
139	152		election committee shall be entitled to cast in accordance
140		-	with the provisions of subsection (b) subdivision(2) of this
141		-	section; the. The determinations of the election committee
142		-	shall be final. Nominations for membership on the board shall
143		-	then be received by the election committee prior to
144		-	adjournment of its first meeting. The election committee shall
145		-	then meet for the second time one week later at the same time
146		-	and place to receive any other nominations for membership on
147		-	the board that may be made and shall at that time elect nine
148		-	members of the board. The nine nominees to membership on the
149		-	board receiving the largest number of votes cast by a quorum
150		-	of the election committee shall be declared to be elected as
151		-	the first nine members of the board. Each member shall be a
152		-	duly qualified elector of one of the municipalities
153		-	represented on the election committee, but, insofar as is
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	182	+	election committee shall be entitled to cast in accordance
	183	+	with the provisions of subsection (b) subdivision(2) of this
	184	+	section; the. The determinations of the election committee
	185	+	shall be final. Nominations for membership on the board shall
	186	+	then be received by the election committee prior to
	187	+	adjournment of its first meeting. The election committee shall
	188	+	then meet for the second time one week later at the same time
	189	+	and place to receive any other nominations for membership on
	190	+	the board that may be made and shall at that time elect nine
	191	+	members of the board. The nine nominees to membership on the
	192	+	board receiving the largest number of votes cast by a quorum
	193	+	of the election committee shall be declared to be elected as
	194	+	the first nine members of the board. Each member shall be a
	195	+	duly qualified elector of one of the municipalities
183	196		represented on the election committee, but, insofar as is
184	197		mathematically possible, no more than one member shall be a
185	198		duly qualified elector of any one of those municipalities. The
186	199		election committee shall meet on a date not more than 30 days
187	200		prior to each annual meeting of the authority to elect members
188	201		to fill the terms which will begin at the conclusion of the
189	202		annual meeting of the board.
190	203		(2) In elections held by the election committee to
191	204		elect members to the board, beginning with the first election
192	205		of members, each municipality entitled to representation on
193	206		the election committee shall have, and shall be entitled to
194	207		have its representative on the election committee cast, one
195	208		whole vote, plus an additional vote or votes ,(including
196	209		fractions thereof ), to be determined as follows:
197	210		a. Before any project of the authority is placed in
198		-	commercial operation by the authority, as determined by the
199		-	authority, and electric power and energy is being supplied by
200		-	the authority to all municipalities contracting with the
201		-	authority pursuant to Section 11-50A-17, the percentage which
202		-	is arrived at by dividing the number of kilowatt hours of
203		-	electric power and energy purchased from all sources by each
204		-	represented municipality during the immediately preceding
205		-	calendar year by the total number of kilowatt hours of
206		-	electric power and energy purchased from all sources by all
207		-	represented municipalities during the immediately preceding
208		-	calendar year shall be determined ; each. Each percentage so
209		-	determined shall then be applied to a total number of votes
210		-	equal to the total number of municipalities entitled to
211		-	representation on the election committee. The resulting
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	238	+	112 SB95 INTRODUCED
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	240	+	a. Before any project of the authority is placed in
	241	+	commercial operation by the authority, as determined by the
	242	+	authority, and electric power and energy is being supplied by
	243	+	the authority to all municipalities contracting with the
	244	+	authority pursuant to Section 11-50A-17, the percentage which
	245	+	is arrived at by dividing the number of kilowatt hours of
	246	+	electric power and energy purchased from all sources by each
	247	+	represented municipality during the immediately preceding
	248	+	calendar year by the total number of kilowatt hours of
	249	+	electric power and energy purchased from all sources by all
	250	+	represented municipalities during the immediately preceding
	251	+	calendar year shall be determined ; each. Each percentage so
	252	+	determined shall then be applied to a total number of votes
	253	+	equal to the total number of municipalities entitled to
241	254		representation on the election committee. The resulting
242	255		figure, calculated to the nearest one thousandth, shall be the
243	256		additional vote or votes ,(including fractions thereof ), to
244	257		which each respective municipality is entitled.
245	258		b. After any project of the authority is placed in
246	259		commercial operation by the authority, as determined by the
247	260		authority, and electric power and energy is being supplied by
248	261		the authority to all municipalities contracting with the
249	262		authority pursuant to Section 11-50A-17, the percentage which
250	263		is arrived at by dividing the number of kilowatt hours of
251	264		electric power and energy purchased from the authority by each
252	265		represented municipality during the immediately preceding
253	266		calendar year by the total number of kilowatt hours of
254	267		electric power and energy purchased from the authority by all
255	268		represented municipalities during the immediately preceding
256		-	calendar year shall be determined ; each. Each percentage so
257		-	determined shall then be applied to a total number of votes
258		-	equal to the total number of municipalities entitled to
259		-	representation on the election committee. The resulting
260		-	figure, calculated to the nearest one thousandth, shall be the
261		-	additional vote or votes ,(including fractions thereof ), to
262		-	which each represented municipality is entitled. At the
263		-	meeting of the election committee in the calendar year
264		-	immediately following the calendar year in which any project
265		-	of the authority is first placed in commercial operation by
266		-	the authority, as determined by the authority, and electric
267		-	power and energy is being supplied by the authority to all
268		-	municipalities contracting with the authority pursuant to
269		-	Section 11-50A-17, if the project has been in commercial
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	298	+	represented municipalities during the immediately preceding
	299	+	calendar year shall be determined ; each. Each percentage so
	300	+	determined shall then be applied to a total number of votes
	301	+	equal to the total number of municipalities entitled to
	302	+	representation on the election committee. The resulting
	303	+	figure, calculated to the nearest one thousandth, shall be the
	304	+	additional vote or votes ,(including fractions thereof ), to
	305	+	which each represented municipality is entitled. At the
	306	+	meeting of the election committee in the calendar year
	307	+	immediately following the calendar year in which any project
	308	+	of the authority is first placed in commercial operation by
	309	+	the authority, as determined by the authority, and electric
	310	+	power and energy is being supplied by the authority to all
	311	+	municipalities contracting with the authority pursuant to
299	312		Section 11-50A-17, if the project has been in commercial
300	313		operation, as determined by the authority, and if electric
301	314		power and energy has been supplied for at least six months in
302	315		the immediately preceding calendar year, then the period of
303	316		time upon which the determination shall be made of the
304	317		additional vote or votes ,(including fractions thereof ), to
305	318		which the members of the election committee shall be entitled
306	319		at such meeting shall be that portion of the calendar year in
307	320		which electric power and energy was first supplied to the
308	321		municipalities; otherwise, such additional vote or votes ,
309	322		(including fractions thereof ), shall be determined on the
310	323		basis of the number of kilowatt hours of electric power and
311	324		energy purchased from all sources in accordance with the
312	325		provisions of subsection (b)(2) paragraph a. of this section.
313	326		c. The presence at any meeting of the election
314		-	committee of representatives entitled to cast two-thirds of
315		-	the total votes to which the election committee shall be
316		-	entitled shall constitute a quorum of the election committee.
317		-	(c) The governing body of each municipality declaring
318		-	its intent to contract with the authority for the purchase of
319		-	electric power and energy pursuant to Section 11-50A-17, after
320		-	the ninetieth day following May 18, 1981, but before the
321		-	election of the first nine members of the board, shall
322		-	designate one individual who shall be a duly qualified elector
323		-	of that municipality as an additional member of the election
324		-	committee. The term of each additional member of the election
325		-	committee so designated shall begin with the first meeting of
326		-	the election committee following the meeting held for the
327		-	purpose of electing the first nine members of the board. After
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	356	+	c. The presence at any meeting of the election
	357	+	committee of representatives entitled to cast two-thirds of
	358	+	the total votes to which the election committee shall be
	359	+	entitled shall constitute a quorum of the election committee.
	360	+	(c) The governing body of each municipality declaring
	361	+	its intent to contract with the authority for the purchase of
	362	+	electric power and energy pursuant to Section 11-50A-17, after
	363	+	the ninetieth day following May 18, 1981, but before the
	364	+	election of the first nine members of the board, shall
	365	+	designate one individual who shall be a duly qualified elector
	366	+	of that municipality as an additional member of the election
	367	+	committee. The term of each additional member of the election
	368	+	committee so designated shall begin with the first meeting of
	369	+	the election committee following the meeting held for the
357	370		purpose of electing the first nine members of the board. After
358	371		the election of the first nine members of the board, each
359	372		municipality that is not otherwise entitled to representation
360	373		on the election committee and that contracts with the
361	374		authority pursuant to Section 11-50A-17 shall designate one
362	375		individual who shall be a duly qualified elector of that
363	376		municipality as an additional member of the election
364	377		committee. The term of each additional member of the election
365	378		committee so designated shall begin with the next meeting of
366	379		the election committee following his or her designation as a
367	380		member. Each member of the election committee shall serve at
368	381		the pleasure of the governing body of the municipality by
369	382		which he or she was appointed.
370	383		(d)(1) The initial membership of the board shall be
371	384		elected as follows: Three members of the board shall be
372		-	elected for terms of one year, three for two years, and three
373		-	for three years. Each election thereafter, except elections to
374		-	fill unexpired terms or to reflect a contemporaneous increase
375		-	in the membership of the board, shall be for a term of three
376		-	years. In the case of an increase in the membership of the
377		-	board, the board members elected to reflect the increase shall
378		-	be elected for initial terms that result in an approximately
379		-	equal number of members of the board having terms expiring in
380		-	the same years, as the election committee shall determine. All
381		-	terms, however, shall extend through the annual meeting of the
382		-	board held at the expiration of the number of years for which
383		-	the member was elected and until his or her successor shall be
384		-	is elected.
385		-	(2)Nevertheless, all All members of the board shall
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	414	+	elected as follows: Three members of the board shall be
	415	+	elected for terms of one year, three for two years, and three
	416	+	for three years. Each election thereafter, except elections to
	417	+	fill unexpired terms or to reflect a contemporaneous increase
	418	+	in the membership of the board, shall be for a term of three
	419	+	years. In the case of an increase in the membership of the
	420	+	board, the board members elected to reflect the increase shall
	421	+	be elected for initial terms that result in an approximately
	422	+	equal number of members of the board having terms expiring in
	423	+	the same years, as the election committee shall determine. All
	424	+	terms, however, shall extend through the annual meeting of the
	425	+	board held at the expiration of the number of years for which
	426	+	the member was elected and until his or her successor shall be
	427	+	is elected.
415	428		(2)Nevertheless, all All members of the board shall
416	429		serve at the pleasure of the election committee.
417	430		(3)In the event If it should be mathematically
418	431		necessary in the election of the members of the board for more
419	432		than one member of the board to be a duly qualified elector of
420	433		the same municipality, then and in that event, one of the two
421	434		members who are duly qualified electors of the same
422	435		municipality shall be elected for an initial term of one year ;
423	436		and, in the event . If there should be are four municipalities
424	437		from which two duly qualified electors must be elected, one of
425	438		the duly qualified electors of one of those four
426	439		municipalities shall be elected for an initial term of two
427	440		years; provided, however, that insofar as may be consistent
428	441		with the foregoing provisions of this subsection, in the
429	442		election of the first nine members of the board, the three
430		-	nominees receiving the highest number of votes shall be
431		-	elected to terms of three years, the three nominees receiving
432		-	the next highest number of votes shall be elected to terms of
433		-	two years, and the three nominees receiving the next highest
434		-	number of votes shall be elected to terms of one year. Any tie
435		-	votes shall be resolved by lot in a manner prescribed by the
436		-	election committee.
437		-	(4) Members of the election committee shall not be
438		-	eligible for membership on the board.
439		-	(5) The membership of the board shall be inclusive and
440		-	reflect the racial, gender, geographical, urban/rural urban,
441		-	rural, and economic diversity of the state.
442		-	(e) The first meeting of the board shall be held at the
443		-	same place and hour, on the first Thursday following the
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471		-	224 SB95 ~~Engrossed~~
	470	+	224 SB95 INTRODUCED
472	471		Page 9
	472	+	election of the first nine members of the board, the three
	473	+	nominees receiving the highest number of votes shall be
	474	+	elected to terms of three years, the three nominees receiving
	475	+	the next highest number of votes shall be elected to terms of
	476	+	two years, and the three nominees receiving the next highest
	477	+	number of votes shall be elected to terms of one year. Any tie
	478	+	votes shall be resolved by lot in a manner prescribed by the
	479	+	election committee.
	480	+	(4) Members of the election committee shall not be
	481	+	eligible for membership on the board.
	482	+	(5) The membership of the board shall be inclusive and
	483	+	reflect the racial, gender, geographical, urban/rural urban,
	484	+	rural, and economic diversity of the state.
	485	+	(e) The first meeting of the board shall be held at the
473	486		same place and hour, on the first Thursday following the
474	487		second meeting of the election committee described in
475	488		subsection subdivision (b)(1) of this section , to elect
476	489		officers, decide upon a date, time, and place for its next
477	490		meeting or meetings, and to proceed with the transaction of
478	491		any business that may come before the board.
479	492		(f) The first annual meeting of the board, which may be
480	493		held without notice, shall be held on the anniversary date of
481	494		the first meeting of the board. If the date set for the annual
482	495		meeting of the board is a legal holiday, the annual meeting
483	496		shall be held on the next secular day following. The date of
484	497		subsequent annual meetings of the board may be changed by
485	498		resolution of the board, and no notice, other than notice of
486	499		the adoption of the resolution to any member of the board who
487	500		was absent when it was adopted, shall be required for any
488		-	annual meeting. Notice of the adoption of a resolution
489		-	changing the date of the annual meeting of the board shall be
490		-	given to any member of the board who was absent when the
491		-	resolution was adopted by mailing a copy of the resolution to
492		-	each absent member of the board 10 days prior to the date set
493		-	for the annual meeting.
494		-	(g) Regular meetings of the board may be established by
495		-	resolution of the board, and no notice, other than notice of
496		-	the adoption of the resolution to any member of the board who
497		-	was absent when it was adopted, shall be required for any
498		-	regular meeting. Notice of the adoption of a resolution
499		-	establishing regular meetings of the board shall be given to
500		-	any member of the board who was absent when the resolution was
501		-	adopted by mailing a copy of the resolution to each absent
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525	524		248
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529		-	252 SB95 ~~Engrossed~~
	528	+	252 SB95 INTRODUCED
530	529		Page 10
	530	+	was absent when it was adopted, shall be required for any
	531	+	annual meeting. Notice of the adoption of a resolution
	532	+	changing the date of the annual meeting of the board shall be
	533	+	given to any member of the board who was absent when the
	534	+	resolution was adopted by mailing a copy of the resolution to
	535	+	each absent member of the board 10 days prior to the date set
	536	+	for the annual meeting.
	537	+	(g) Regular meetings of the board may be established by
	538	+	resolution of the board, and no notice, other than notice of
	539	+	the adoption of the resolution to any member of the board who
	540	+	was absent when it was adopted, shall be required for any
	541	+	regular meeting. Notice of the adoption of a resolution
	542	+	establishing regular meetings of the board shall be given to
	543	+	any member of the board who was absent when the resolution was
531	544		adopted by mailing a copy of the resolution to each absent
532	545		member of the board 10 days prior to the date of the regular
533	546		meeting.
534	547		(h) Special meetings of the board may be called by
535	548		resolution of the board or by the chairman chair or
536	549		vice-chairman vice chair or upon the written request of at
537	550		least three members of the board.
538	551		(i) Written notice of special meetings shall be mailed
539	552		to each municipality contracting with the authority pursuant
540	553		to Section 11-50A-17 and to each member of the board not less
541	554		than three days prior to the date of any special meeting.
542	555		Neither the business to be transacted at nor the purpose of a
543	556		special meeting of the board need be specified in the notice
544	557		of the meeting. Notice of a special meeting need only state
545	558		the time and place of the meeting.
546		-	(j) Notice of a meeting of the board need not be given
547		-	to any member who signs a waiver of notice either before or
548		-	after the meeting. Attendance of a member at a meeting shall
549		-	constitute a waiver of notice of the meeting and a waiver of
550		-	any and all objections objection to the time or place of the
551		-	meeting or to the manner in which it has been called or
552		-	convened, except when a member states at the beginning of the
553		-	meeting any objection or objections to the transaction of
554		-	business. Neither the business to be transacted at nor the
555		-	purpose of any regular or special meeting of the board need be
556		-	specified in the waiver of notice of those meetings.
557		-	(k) Any vacancy in the membership of the board due to
558		-	the death, resignation, change of residence, or disability of
559		-	a member shall be filled by a new member to be elected by the
560	559		253
561	560		254
562	561		255
563	562		256
564	563		257
565	564		258
566	565		259
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581	580		274
582	581		275
583	582		276
584	583		277
585	584		278
586	585		279
587		-	280 SB95 ~~Engrossed~~
	586	+	280 SB95 INTRODUCED
588	587		Page 11
	588	+	the time and place of the meeting.
	589	+	(j) Notice of a meeting of the board need not be given
	590	+	to any member who signs a waiver of notice either before or
	591	+	after the meeting. Attendance of a member at a meeting shall
	592	+	constitute a waiver of notice of the meeting and a waiver of
	593	+	any and all objections objection to the time or place of the
	594	+	meeting or to the manner in which it has been called or
	595	+	convened, except when a member states at the beginning of the
	596	+	meeting any objection or objections to the transaction of
	597	+	business. Neither the business to be transacted at nor the
	598	+	purpose of any regular or special meeting of the board need be
	599	+	specified in the waiver of notice of those meetings.
	600	+	(k) Any vacancy in the membership of the board due to
	601	+	the death, resignation, change of residence, or disability of
589	602		a member shall be filled by a new member to be elected by the
590	603		remaining members of the board to serve until the next meeting
591	604		of the election committee. At the first meeting of the
592	605		election committee following the filling of any vacancy, the
593	606		election committee shall elect a member to fill the remainder,
594	607		if any, of the unexpired term for which the vacancy was
595	608		filled. Upon this election by the election committee, the
596	609		membership on the board of the member elected to fill any
597	610		vacancy by the remaining members of the board shall terminate.
598	611		If any member of the board who is employed in any capacity in
599	612		the management or operation of the electric distribution
600	613		system of any municipality ceases to be so employed, the board
601	614		member shall be deemed to have resigned membership on the
602	615		board within the meaning of this subsection.
603	616		(l) The board shall elect as officers of the authority
604		-	a chairman chair, a vice-chairman vice chair, a
605		-	secretary-treasurer, and any other officers which the board
606		-	from time to time may deem necessary. The chairman chair and
607		-	vice-chairman vice chair shall be elected from the membership
608		-	of the board. All officers shall serve for terms of one year
609		-	terminating at the next annual meeting of the board or until
610		-	their successors are elected and qualified.
611		-	(m) At all meetings of the board, the presence in
612		-	person of a majority of the members in office shall be
613		-	necessary for the transaction of business, and the affirmative
614		-	vote of a majority of the members present and voting at a
615		-	meeting where a quorum is present shall be necessary for any
616		-	action of the board. No vacancy in the membership of the board
617		-	shall impair the right of the majority to exercise all the
618	617		281
619	618		282
620	619		283
621	620		284
622	621		285
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638	637		301
639	638		302
640	639		303
641	640		304
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643	642		306
644	643		307
645		-	308 SB95 ~~Engrossed~~
	644	+	308 SB95 INTRODUCED
646	645		Page 12
	646	+	(l) The board shall elect as officers of the authority
	647	+	a chairman chair, a vice-chairman vice chair, a
	648	+	secretary-treasurer, and any other officers which the board
	649	+	from time to time may deem necessary. The chairman chair and
	650	+	vice-chairman vice chair shall be elected from the membership
	651	+	of the board. All officers shall serve for terms of one year
	652	+	terminating at the next annual meeting of the board or until
	653	+	their successors are elected and qualified.
	654	+	(m) At all meetings of the board, the presence in
	655	+	person of a majority of the members in office shall be
	656	+	necessary for the transaction of business, and the affirmative
	657	+	vote of a majority of the members present and voting at a
	658	+	meeting where a quorum is present shall be necessary for any
	659	+	action of the board. No vacancy in the membership of the board
647	660		shall impair the right of the majority to exercise all the
648	661		rights and perform all duties of the board. If at any meeting
649	662		there is less than a majority present, a majority of those
650	663		present may adjourn the meeting to a fixed time and place, and
651	664		notice of that time and place shall be given in accordance
652	665		with the provisions of subsection (i) of this section .
653	666		(n)(1) Unless the board by an unanimous vote of all of
654	667		the members thereof then serving shall so determine, the
655	668		members of the board shall not be entitled to compensation for
656	669		their services as directors or officers. If the board
657	670		determines to provide for compensation, the authority may
658	671		compensate its directors in the manner and amounts as shall be
659	672		determined from time to time by the board not to exceed six
660	673		hundred dollars ($600) per meeting of the board actually
661	674		attended. Members of the board may be reimbursed by the
662		-	authority for their actual expenses properly incurred in the
663		-	performance of their duties. Members of the board of directors
664		-	shall serve without compensation, except that they shall be
665		-	reimbursed for actual expenses incurred in the performance of
666		-	their duties under this article, and, at the discretion of the
667		-	board of directors, they may be paid a director's fee not to
668		-	exceed one thousand seven hundred fifty dollars ($1,750) per
669		-	month in which the member actually attends a meeting.
670		-	(2) Notwithstanding subdivision (1), the chair of the
671		-	board shall serve without compensation, except that he or she
672		-	shall be reimbursed for actual expenses incurred in the
673		-	performance of his or her duties under this article, and, at
674		-	the discretion of the board, he or she may be paid a
675		-	director's fee not to exceed two thousand dollars ($2,000) per
676	675		309
677	676		310
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702	701		335
703		-	336 SB95 ~~Engrossed~~
	702	+	336 SB95 INTRODUCED
704	703		Page 13
705		-	director's fee not to exceed two thousand dollars ($2,000) per
706		-	month in which the chair actually attends a meeting.
	704	+	attended. Members of the board may be reimbursed by the
	705	+	authority for their actual expenses properly incurred in the
	706	+	performance of their duties. Members of the board of directors
	707	+	shall serve without compensation, except that they shall be
	708	+	reimbursed for actual expenses incurred in the performance of
	709	+	their duties under this article, and, at the discretion of the
	710	+	board of directors, they may be paid a monthly director's fee
	711	+	not to exceed one thousand seven hundred fifty dollars
	712	+	($1,750).
	713	+	(2) Notwithstanding subdivision (1), the chair of the
	714	+	board shall serve without compensation, except that he or she
	715	+	shall be reimbursed for actual expenses incurred in the
	716	+	performance of his or her duties under this article, and, at
	717	+	the discretion of the board, he or she may be paid a monthly
	718	+	director's fee not to exceed two thousand dollars ($2,000).
707	719		(o) The authority shall keep suitable books and records
708	720		of all its obligations, contracts, transactions, and
709	721		undertakings, and of all its revenues and receipts of every
710	722		nature and all expenditures of every kind.
711	723		(p) The authority, together with all funds established
712	724		in connection with its debt, shall be audited no less
713	725		frequently than annually by an independent auditing and
714	726		accounting firm to be selected and compensated by the
715	727		authority. Copies of any audit shall be available upon request
716	728		to interested parties, including , specifically but without
717	729		limitation, the holders of bonds and all parties contracting
718	730		with the authority."
719	731		Section 2. This act shall become effective on January
720	732		1, 2026.
721	733		337
722	734		338
723	735		339
724	736		340
725	737		341
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729	741		345
730	742		346
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733	745		349
734	746		350
735		-	351 SB95 Engrossed
736		-	Page 14
737		-	1, 2026.
738		-	Senate
739		-	Read for the first time and referred
740		-	to the Senate committee on Fiscal
741		-	Responsibility and Economic
742		-	Development
743		-	................05-Feb-25
744		-	Read for the second time and placed
745		-	on the calendar:
746		-	1 amendment
747		-	................12-Feb-25
748		-	Read for the third time and passed
749		-	as amended
750		-	Yeas 32
751		-	Nays 0
752		-	Abstains 0
753		-	................18-Feb-25
754		-	Patrick Harris,
755		-	Secretary.
	747	+	351
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