(c) 8 members shall constitute a quorum, and the Board may not meet or take any action without a quorum present.

(d) The chairperson of the Authority shall be elected annually by the Board and must be a public  member that resides within the territorial jurisdiction of the Authority.

(e) The terms of all initial members of the Authority shall begin 30 days
after the effective date of this
Act.
Of the 3 original public members appointed by the Governor, 1
shall serve until the third Monday in January, 2007; 1 shall serve until the
third Monday in January, 2008; 1 shall serve until the third Monday in January,
2009. The initial terms of the original public members appointed by the county board chairpersons shall be determined by lot, according to the following schedule: (i) 3 shall serve until the third Monday in January, 2007, (ii) 3 shall serve until the third Monday in January, 2008, (iii) 3 shall serve until the third Monday in January, 2009, and (iv) 2 shall serve until the third Monday in January, 2010. All successors to these original
public
members shall be appointed by the original appointing authority and all appointments made by the Governor shall be made with the advice and consent of the Senate, pursuant to subsection (b), and shall hold office for a term of 6 years
commencing the third Monday in January of the year in which their term
commences, except in the case of an appointment to fill a vacancy.
 Vacancies occurring among the public members shall be filled for the
remainder of the term. In case of
vacancy in a Governor-appointed membership when the Senate is not in session,
the Governor may make a
temporary appointment until the next meeting of the Senate when a person shall
be nominated to fill the
office and, upon confirmation by the Senate, he or she shall hold office during
the remainder of the term
and until a successor is appointed and qualified. Members of the Authority are
not entitled to
compensation for their services as members but are entitled to reimbursement
for all necessary expenses
incurred in connection with the performance of their duties as members.

(f) The Governor may remove any public member of the Authority appointed by the Governor or a predecessor Governor in case of
incompetence, neglect of
duty, or malfeasance in office. The chairperson of a county board may remove any public member appointed by that chairperson or a predecessor county board chairperson in case of incompetence, neglect of duty, or malfeasance in office.

(g) The Board shall appoint an Executive Director who shall have a
background in finance, including
familiarity with the legal and procedural requirements of issuing bonds, real
estate, or economic
development and administration. The Executive Director shall hold office at the
discretion of the Board.
The Executive Director shall be the chief administrative and operational
officer of the Authority, shall
direct and supervise its administrative affairs and general management, perform
such other duties as may
be prescribed from time to time by the members, and receive compensation fixed
by the Authority. The Department of Commerce and Economic Opportunity shall pay
the compensation of the Executive Director from appropriations received for
that purpose. The
Executive Director shall attend all meetings of the Authority. However, no
action of the Authority shall be
invalid on account of the absence of the Executive Director from a meeting. The
Authority may engage
the services of
the Illinois Finance Authority, attorneys, appraisers, engineers, accountants,
credit analysts, and other consultants if the Central Illinois Economic
Development Authority deems it advisable.

(Source: P.A. 103-517, eff. 8-11-23.)