A BILL to establish a multicounty economic development authority for the counties of Greenbrier, Monroe and Pocahontas; to provide such authority with power to plan and coordinate economic development within these counties; to provide for a board of directors to manage and control the authority; to provide for appointment of representatives to the board; and to provide for the support and operation of the authority.

There is hereby created a multicounty economic development authority, consisting of the counties of Greenbrier, Monroe and Pocahontas, which shall plan and coordinate economic development within these counties. The Greenbrier economic development corporation is hereby abolished and its powers and assets transferred to the multicounty economic development authority created by this act.

(a) "Corporate member" means any individual, association, corporation, partnership, estate or government body, excluding county members, who supports the objectives and purposes of the multicounty development authority and who has paid membership fees as determined by the board of directors. Members in good standing of the Greenbrier economic development corporation as of the thirtieth day of June, one thousand nine hundred ninety-four, shall become members of the newly created multicounty development authority.

The management and control of the authority, its property, operations, business and affairs is lodged in a board of directors, consisting of not fewer than twelve persons entitled to vote. The number of directors entitled to vote shall be equally apportioned among persons representing interests in the counties of Greenbrier, Monroe and Pocahontas. The president of the county commission of each county member or his designee shall serve on the board as a voting member. Within thirty days after the effective date of this act, the county members and corporate members of the multicounty economic development authority shall begin meeting and selecting the remaining directors. The board of directors shall not be authorized to act until a minimum of twelve members has been elected.

The authority constitutes a public corporation to be known as the Greenbrier Valley economic development corporation and, as such has perpetual succession, may contract and be contracted with, may sue and be sued, may plead and be pleaded, and may have and use a common seal.

In order to provide for the support, maintenance and operation of the authority hereby created, beginning the first day of July, one thousand nine hundred ninety-four, each county member shall contribute annually at least one dollar twenty-five cents per capita, based on the most recent decennial census, for those residing within its corporate boundaries. The state tax commissioner shall not approve the budget of any county member of the authority which does not contain the funding hereinabove set forth.

Except as otherwise specially provided in this act, the authority has the powers and duties which are conferred and imposed, respectively, upon county or municipal development authorities by sections seven, seven-a, eight, nine, ten, eleven, twelve, thirteen and fourteen, article twelve, chapter seven of the code of West Virginia, as amended.