A board to be known as “Tarrytown 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 a chairman and four other members, all of whom shall be appointed
by the mayor with the approval of the board of trustees of the village. The appointment of the chairman shall be for a term of five years. Of the other members first appointed, one shall be appointed for a period of one
year, one for a period of two years, one for a period of three years, and one for
a period of four 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 such term,
shall be filled for the unexpired term. The members of the board shall choose from their number a vice-chairman and such
other officers deemed desirable by the board. The board of trustees may remove any member of the board for inefficiency, neglect
of 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
and duties have been met and its bonds and notes have been paid in full or such liabilities,
bonds and notes have otherwise been discharged. Upon its ceasing to exist, all its rights and properties shall pass to the village.
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