Section 2304. Auburn industrial development authority

A public benefit
  corporation to be known as the "Auburn industrial development 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.    Its
  members  shall consist of a chairman and eight other members all of whom
  shall be appointed by the mayor of the city for a term of  three  years,
  and  shall  include  two  members of the common council of the city, one
  representative of the city school board and one representative from each
  of the fields of business, industry and labor. Every appointment to  the
  board  shall  be  subject  to  confirmation by the common council of the
  city. The chairman and each member shall continue  to  serve  until  the
  appointment  and  confirmation of his successor. Vacancies in such board
  occurring otherwise than by expiration of term shall be  filled  by  the
  mayor  by  appointment for the unexpired term subject to confirmation of
  the common council of the city. The mayor may remove the chairman or any
  member of the board for inefficiency, neglect of duty or  misconduct  in
  office,  after  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. Such removal must  be  approved  by  the
  common  council  of the city. 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. Notwithstanding  any  inconsistent
  provisions  of law, general, special or local, no officer or employee of
  the city shall be deemed to have forfeited or shall forfeit  his  office
  or employment by reason of his acceptance of membership of the authority
  created by this article, provided, however, that a member who holds such
  other   public   office   or  employment  shall  receive  no  additional
  compensation or allowance 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. The power of  the
  authority  shall be vested in and exercised by a majority of the members
  of the authority. The authority 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 for a period of ten years 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 its
  ceasing to exist, all rights and properties shall pass to and be  vested
  in the city.