Section 3953. Administration of the authority

1. The authority shall be
  administered by seven directors appointed by the governor. Of the  seven
  directors,  one each shall be appointed on the written recommendation of
  the temporary president of the state senate, the speaker  of  the  state
  assembly  and  the state comptroller, respectively. One member appointed
  directly by the governor and the members appointed on the recommendation
  of the temporary president of the state senate,  the  recommendation  of
  the  speaker  of  the state assembly and the recommendation of the state
  comptroller shall be residents of the county.  Each  director  shall  be
  appointed  for  a  term of four years, provided however, that two of the
  directors first appointed by the governor shall serve for a term  ending
  December  thirty-first,  two  thousand  nine,  and  the  remaining  five
  directors first appointed shall  serve  for  the  following  terms:  the
  directors  appointed on recommendation of the temporary president of the
  state  senate,  the  speaker  of  the  state  assembly  and  the   state
  comptroller  shall  serve  for  a term ending December thirty-first, two
  thousand ten and the two remaining directors first appointed directly by
  the governor shall serve for a term ending on December thirty-first, two
  thousand eleven. Each director  shall  hold  office  until  his  or  her
  successor  has  been  appointed  and qualified. Thereafter each director
  shall serve a term of four years, except that any director appointed  to
  fill  a  vacancy  shall  serve  only  until the expiration of his or her
  predecessor's term.
    2. The governor shall designate a chairperson and  a  vice-chairperson
  from  among  the  directors.  The  chairperson  shall  preside  over all
  meetings of the directors and  shall  have  such  other  duties  as  the
  directors  may  prescribe.  The  vice-chairperson shall preside over all
  meetings of the directors in the absence of the  chairperson  and  shall
  have such other duties as the directors may prescribe.
    3. The directors of the authority shall serve without salary, but each
  director  shall be reimbursed for actual and necessary expenses incurred
  in the performance of such director's official duties as a  director  of
  the authority.
    4.  Notwithstanding any inconsistent provision of any general, special
  or local law, ordinance, resolution or charter, no  officer,  member  or
  employee   of  the  state,  any  city,  county,  town  or  village,  any
  governmental entity operating any public school or college,  any  school
  district  or  any other public agency or instrumentality which exercises
  governmental powers under the laws of the state, shall  forfeit  his  or
  her  office  or  employment  by  reason  of  his  or  her  acceptance of
  appointment as a director, officer or employee  of  the  authority;  nor
  shall  service as such director, officer or employee of the authority be
  deemed incompatible or in conflict with such office or employment.
    5. Four directors shall constitute a quorum for the transaction of any
  business or the exercise of any power of the authority. No action  shall
  be  taken  by  the  authority  except pursuant to a favorable vote of at
  least four directors participating in a meeting at which such action  is
  taken.
    6.  The  authority  shall appoint a treasurer and may appoint officers
  and agents as it may require and prescribe their duties.
    7. At least annually, commencing no more than one year after the  date
  on  which  authority bonds, notes or other obligations are first issued,
  the  authority  shall  report  to  the  county  executive,  legislature,
  comptroller,  the  director of the budget, the chair of the state senate
  finance committee, the chair  of  the  state  assembly  ways  and  means
  committee  and  the state comptroller on the amount of financing and the
  cost savings for the county over the past year.