Section 1048-C. Buffalo municipal water finance authority

1. A corporation
  known as the Buffalo municipal water finance authority is hereby created
  for public 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   be
  administered  by  a  board  of  directors consisting of seven members as
  follows: the commissioner  of  public  works  of  the  city,  the  state
  commissioner  of  environmental  conservation,  the  chairperson  of the
  finance committee of the common council of the city, the commissioner of
  administration and finance  of  the  city,  two  public  members  to  be
  appointed  by the mayor and confirmed by the common council of the city,
  and one public member to be appointed by the governor. One public member
  appointed by the mayor shall serve for a term of one  year,  one  public
  member  appointed  by the mayor shall serve for a term of two years, and
  the public member appointed by the governor shall serve for  a  term  of
  two  years  from  January  first  next  succeeding  the  date  of  their
  appointment. Their successors shall serve for terms of two  years  each.
  Members  shall  continue  in  office  until  their  successors have been
  appointed and qualified. The  mayor  or  the  governor  shall  fill  any
  vacancy  which may occur by reason of death, resignation or otherwise in
  a manner consistent with the original appointment. A public  member  may
  be  removed  by  the mayor or the governor, whichever appointed him, for
  cause, but not without an opportunity  to  be  heard  in  person  or  by
  counsel,  in his defense, upon not less than ten days' notice. The board
  of directors shall select a chairman from among the directors who  shall
  serve  in such capacity at the pleasure of the board. The chairman shall
  preside over all meetings of the board of directors and shall have  such
  other duties as may be prescribed by the board.
    2.  Each  director  who  is  a  public  member  shall  be  entitled to
  reimbursement for his actual and  necessary  expenses  incurred  in  the
  performance  of  his  official  duties  and  a per diem allowance of one
  hundred fifty dollars when rendering service as such director,  provided
  that the aggregate of such per diem allowance to any one director in any
  one  fiscal  year  of  the  authority  shall  not exceed the sum of five
  thousand dollars.
    3. Such public members may engage  in  private  employment,  or  in  a
  profession  or business, subject to the limitations contained in chapter
  VIII sections ninety through ninety-two of the Buffalo  city  ordinances
  for   members   appointed   by   the  mayor,  and  subject  to  sections
  seventy-three and seventy-four of  the  public  officers  law,  for  the
  members appointed by the governor. The authority shall, for the purposes
  of such sections be a "city agency" or a "state agency", as the case may
  be  and such directors shall be "officers" of the authority for purposes
  of such sections.
    4. Four directors of the authority of  whom  at  least  three  members
  shall be ex officio shall constitute a quorum for the transaction of any
  business  or  the  exercise  of  any power of the authority. Resolutions
  authorizing the  issuance  of  bonds  or  notes  of  the  authority  and
  resolutions  authorizing  any  loan,  lease,  sale or other agreement in
  respect to a water project shall be  approved  by  not  less  than  four
  members  of  the authority at a meeting duly called for such purposes at
  which a quorum is in attendance, but for the transaction  of  any  other
  business  or  the  performance  of  any  other  power or function of the
  authority, the authority may act by a majority of the members present at
  any meeting at which a  quorum  is  in  attendance.  The  authority  may
  delegate  to  one  or more of its directors, or its officers, agents and
  employees, such powers and duties as it may deem proper. The comptroller
  shall be the chief fiscal officer of the authority. The commissioner  of

  public  works  of  the  city,  the  state  commissioner of environmental
  conservation,  the  director  of  the  budget  of  the  city,  and   the
  commissioner  of  administration  and  finance  of the city may each, by
  written instrument, filed with and approved as to form by the authority,
  designate  a  deputy  or  assistant  in  their respective departments or
  offices, to perform, in their absence,  their  respective  duties  under
  this  title.  The  term  "director"  as  used  in this subdivision shall
  include such persons so designated as provided herein.  The  designation
  of  such persons shall be deemed temporary only and shall not affect the
  civil service or retirement rights of any persons so designated.
    5. Notwithstanding any inconsistent provisions of this  or  any  other
  law,  general,  special  or  local,  or  of  any  charter, no officer or
  employee of the city or the state, shall be deemed to have forfeited  or
  shall  forfeit  his  office or employment or any benefits provided under
  the retirement and social security law by reason of  his  acceptance  of
  membership  on  the  authority,  provided,  however, that a director who
  holds such other public office or employment shall receive no additional
  compensation for services rendered pursuant to this title, but shall  be
  entitled to reimbursement for his actual and necessary expenses incurred
  in the performance of such services.
    6.  The  authority  and  its  corporate existence shall continue until
  terminated by law, provided, however, that no such law shall take effect
  so  long  as  the  authority  shall  have  bonds  or  other  obligations
  outstanding  unless  adequate provision has been made for the payment or
  satisfaction  thereof.  Upon  termination  of  the  existence   of   the
  authority,  all  of  the  rights  and  properties  of the authority then
  remaining shall pass to and vest in the city, unless otherwise  provided
  in  an  agreement  between  the  city  and  the authority, and except as
  otherwise may be specified in such law.
    7. It is hereby determined and declared that  the  authority  and  the
  carrying  out  of  its  powers  and  duties  are in all respects for the
  benefit of the people of the city and the state for the  improvement  of
  their  health,  welfare and prosperity and that such 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.
    8.  Nothing  in this title shall be construed to obligate the state in
  any way  in  connection  with  the  operations  or  obligations  of  the
  authority.