Each member of the authority shall be, and shall hold office only so long as he is, a resident of and registered voter in the town or city in which the authority is located. Each member of the authority shall be reimbursed for actual necessary traveling and other expenses incurred by him in the performance of his duties, payable exclusively out of funds of the authority available therefor. No member of the authority shall be allowed any other fees, perquisites, or emoluments, reward or compensation for his services as a member of the authority.