Sec. 452.101. EXECUTIVE COMMITTEE: POWERS. The executive committee may: (1) employ and prescribe the compensation for a chief executive officer whom the committee may designate as the general manager or the executive director; (2) appoint auditors and attorneys and prescribe their duties, compensation, and tenure; (3) adopt a seal for the authority; (4) set the fiscal year for the authority; (5) establish a complete system of accounts for the authority; (6) designate by resolution an authorized representative of the authority to, according to terms prescribed by the executive committee: (A) invest authority funds; and (B) withdraw money from authority accounts for investments; and (7) designate by resolution an authorized representative of the authority to supervise the substitution of securities pledged to secure authority funds.
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