(a) A board of 13 members known as the Vermont Educational and Health Buildings Financing Agency is created. It is a body corporate and politic constituting a public instrumentality of the State. The State Treasurer, or his or her designee, the Secretaries of Education, of Human Services, and of Administration shall be members ex officio. The Governor, with the advice and consent of the Senate, shall appoint seven members for six-year terms. The members appointed by the Governor shall appoint two additional members whose term of office shall be two years.

(b) The board shall select its chair and a vice chair, a treasurer, and a secretary. The term of the chair, vice chair, treasurer, and secretary shall be one year and they shall be elected at the first meeting of the board each fiscal year. All members of the board, except those ex officio, shall be entitled to reimbursement of their necessary expenses incurred in the performance of their official duties, and also to per diem compensation for their services subject to approval of the Governor.

(c) [Repealed.]

(d) Notwithstanding any general or special law to the contrary, the provisions of 8 V.S.A. chapter 73 shall not apply to the Agency or to any loan made by the Agency in accordance with this title before or after the effective date of this section. (Added 1966, No. 56 (Sp. Sess.), § 3, eff. March 12, 1966; amended 1969, No. 224 (Adj. Sess.), § 10, eff. March 31, 1970; 1971, No. 67, § 3, eff. April 15, 1971; 1987, No. 203 (Adj. Sess.), § 21 eff. May 27, 1988; 2011, No. 40, § 53, eff. May 20, 2011; 2013, No. 92 (Adj. Sess.), § 230, eff. Feb. 14, 2014.)