<Additional Public Authorities Law §§ 1599-c appear in Titles 14, City of Binghamton Parking Authority, City of Niagara Falls
Parking Authority, and City of Schenectady Parking Authority.>
A board to be known as “Cohoes Parking Authority” is hereby created. Such board shall be a body corporate, constituting a public benefit corporation,
and its existence shall commence upon the appointment of the members as herein provided. It shall consist of a chairman and four other members, who shall be appointed by
the mayor, with the advice and consent of the common council. The members shall serve at the pleasure of the mayor. Of the members first appointed, one shall be appointed for a period of two years,
one for a period of three years, one for a period of four years, and one for a period
of five years. At the expiration of such terms, the terms of office of their successors shall be
five years. 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 term shall
be filled for the unexpired term. The members of the board shall choose from their number a vice-chairman. 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. 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 for a period of five
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 its rights and properties shall pass to the city.
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