Section 45-44-90 - Economic Development Authority -- Creation; Operation; Formation of Successor Authority

(a) In Macon County, there is created the Macon County Economic Development Authority to aid and assist current industries and coordinate efforts of all municipal and county agencies of Macon County, and to aid organizations in the development of new industries which will provide job opportunities for the residents of the county. (b) The authority created pursuant to subsection (a) mayincorporate or reincorporate as an authority pursuant toChapter 92A of Title 11. The members of the board of directorsof the newly incorporated or reincorporated authority shall bethe same as the board members provided for in Section45-44-90.01, as amended. (c) Any funds distributed or otherwise available to theMacon County Economic Development Authority pursuant to thisarticle or pursuant to Section 45-44-242.12, or otherwise, maybe expended or pledged by the authority, or any successorauthority, by whatever name known, for the purposes of economic development in Macon County, including for thepurpose of securing and the repayment of loans for economicdevelopment purposes.

successorauthority, by whatever name known, for the purposes of economic development in Macon County, including for thepurpose of securing and the repayment of loans for economicdevelopment purposes. Any power, privilege, duty, or exemptiongranted to any newly incorporated authority or any successorauthority shall not be construed as being inconsistent with,replace, negate, or otherwise limit any purpose, power, orsource of funds granted to the Macon County EconomicDevelopment Authority. (Act 93-875, 1st Sp. Sess., p. 137, § 1; Act 2023-319, §1.)