(70 ILCS 1905/8) (from Ch. 114, par. 368)
Sec. 8.
Board of
Commissioners.
The Commissioners appointed in pursuance of the foregoing provisions of
this Act shall constitute the Board of Commissioners of the Railroad
Terminal Authority. The government, control and management of the affairs
of the Railroad Terminal Authority shall be vested in the Board of
Commissioners and such Board shall possess and exercise all of the powers
granted under this Act and such other powers not inconsistent with this
Act, as may be necessary to effectuate the purposes of this Act.
The Board of Commissioners shall elect or appoint a Secretary, Treasurer
and Executive Director and such other officers as they deem necessary and
fix the term of office for each. The Secretary, Treasurer and Executive
Director and such other officers may, but need not be Commissioners. The
Board of Commissioners may elect or appoint the Chairman of the Board of
Commissioners as Executive Director of said Authority and fix his
compensation as Executive Director prior to the time of his entering upon
any of the duties as Executive Director, which compensation shall be in
addition to any compensation said Chairman may be entitled to as a member
of the Board of Commissioners, and such compensation shall not be changed
during his term of office. The Executive Director shall devote his entire
time to the business and affairs of the Commission and shall have no other
gainful employment. In the event that the Chairman is elected or appointed
Executive Director of the Authority, his term of office shall coincide with
his term of office as Chairman of the Board of Commissioners. Compensation
of the Secretary and Treasurer and such other officers as the Board of
Commissioners may provide for shall be fixed by the Board of Commissioners
prior to the time of entering upon the duties of their respective offices
and shall not be changed during the term of office of any such officer, and
in the event any such officer is a Commissioner the compensation shall be
in addition to any compensation said officer is entitled to receive as a
Commissioner.
The Board of Commissioners shall adopt a corporate seal, by-laws, and
rules and regulations suitable to the purposes of this Act, which shall
provide a time for the election of officers and of other regular and
special meetings of the Commissioners, and shall contain the rules for the
transaction of other business of such Railroad Terminal Authority and for
amending such by-laws, rules and regulations.
Said Board of Commissioners shall have full powers to pass all necessary
ordinances, resolutions, rules and regulations for the proper management
and conduct of the business of said Board of Commissioners and of said
Railroad Terminal Authority and for carrying into effect the object for
which such Railroad Terminal Authority is created.
(Source: Laws 1957, p. 786.)
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