Section 1420-D. Monroe regional parking authority

A board to be known as
  "Monroe regional parking authority" is hereby created. Such board  shall
  be   a   body  corporate  and  politic  constituting  a  public  benefit
  corporation, and its existence shall commence upon  the  appointment  of
  the  members  as  herein  provided.  It  shall  consist of five members,
  appointed  by  the  local  legislative  bodies  of   the   participating
  municipalities  as  follows:  two  members  to  be  chosen  by the local
  legislative body of the town of Monroe to serve for periods of five  and
  four  years,  respectively,  two  members  to  be  chosen  by  the local
  legislative body of the village of Monroe to serve for periods of  three
  and  two  years,  respectively, and one member to be chosen by the local
  legislative body of the village of Harriman to serve for a period of one
  year. All such terms shall begin  on  the  first  day  of  January  next
  succeeding  the  date on which this title becomes law. At the expiration
  of such terms, the terms of office of their  successors  shall  be  five
  years  so  that  the  term  of office of one-fifth of such members shall
  expire on the thirty-first day of December in  each  year.  Each  member
  shall  continue  to serve until the appointment and qualification of his
  successor. Vacancies in such  board  occurring  otherwise  than  by  the
  expiration  of  such term, shall be filled for the unexpired term by the
  body making the original appointment. The members  of  the  board  shall
  choose from their number a chairman. The body which appointed any member
  may remove such member of the board for inefficiency, neglect or duty or
  misconduct  in  office, giving him a copy of the charges against him and
  an opportunity of being heard in person, or by counsel, in  his  defense
  upon  not  less than ten days' notice. The members of the board shall be
  entitled to no compensation for their services but shall be entitled  to
  reimbursement  for  their  actual and necessary expenses incurred in the
  performance of their official duties. The powers of the authority  shall
  be  vested  in  and  exercised by a majority of the members of the board
  then in office. Such board may delegate to one or more of its members or
  to its officers, agents and employees such powers and duties as  it  may
  deem  proper. Such board and its corporate existence shall continue only
  to the thirty-first day of December, nineteen hundred  ninety-nine,  and
  thereafter  until  all  its liabilities have been met and its bonds have
  been paid in full or such  liabilities  or  bonds  have  otherwise  been
  discharged.  Upon  ceasing to exist, all real property shall pass to the
  village in which it is  located,  and  if  outside  the  limits  of  any
  village,  to  the  town  in  which  located. All other property shall be
  equally divided among the participating municipalities.