There is hereby created the Patriot's Point Development Authority, a body politic and corporate under the laws of this State, consisting of and governed by a board of nine members hereinafter referred to as the Authority. On June 30, 1983, the General Assembly may transfer the powers, responsibilities, liabilities and assets of the Authority to the Department of Parks, Recreation and Tourism; but no obligation or contract of the Authority shall be impaired by such transfer, and the full faith and credit of the State shall be given to assure the performance of obligations so transferred.
[From and after such time as all claims and litigation brought against the Patriot's Point Development Authority have been settled (see Editor's Note below), this section will read as follows:]
There is hereby created the Patriot's Point Development Authority, a body politic and corporate under the laws of this State, consisting of and governed by a board of five members hereinafter referred to as the authority.
HISTORY: 1962 Code Section 51-91; 1973 (58) 132; 1978 Act No. 427 Section 1; 1990 Act No. 349, Section 1 (for effective date, see Editor's Note below).
Editor's Note
1990 Act No. 349, Section 7, approved March 19, 1990, provides as follows:
"This act takes effect upon approval by the Governor, except that the provisions of Sections 1, 2, 5, and 6 of this act do not take effect until the date that all claims and litigation, brought against the Patriot's Point Development Authority, its officers, employees, or agents and arising from, related to, or connected with the development of a hotel and marina complex upon the lands of the authority, have been settled or otherwise disposed of to the satisfaction of the Governor and the State Budget and Control Board as evidenced by written resolution of the board. On the date of this written resolution, the terms of the present members of the authority expire and their successors appointed in the manner provided by this act shall take office."
1993 Act No. 2, Section 2, eff December 11, 1992, provides as follows:
"SECTION 2. Notwithstanding the provisions of Section 7 of Act 349 of 1990 which provides that the composition of the authority may not be changed until all claims and litigation brought against the authority have been settled or otherwise disposed of to the satisfaction of the Governor and the Budget and Control Board evidenced by a resolution of the board, the terms of the members of the authority serving on the effective date of this act are terminated and the Governor shall appoint the members of the authority as provided in Section 51-13-720 of the 1976 Code, as amended in Section 1 of this act."