(a)  An executive director, who shall be a person professionally skilled and experienced in law, finance, or public administration, shall be appointed by the board of directors as chief executive officer of the agency, and shall serve at the pleasure of the board. The executive director shall administer the affairs of the agency, including, without limiting the generality of the foregoing matters, relating to contracting, financial assistance administration, personnel and administration, under the supervision of the board in accordance with such authorizations as the board may from time to time reasonably adopt and continue in force. Salaries of personnel shall be guided by the unclassified pay plan. The board may also appoint persons to hold the offices of secretary and treasurer to the agency, including assistant secretaries and assistant treasurers in whom may be vested any of the powers of the secretary and the treasurer, respectively, or may appoint a director or employee of the agency to exercise such duties. The secretary shall be the custodian of the seal and of the books and records of the agency, and shall keep a record of the proceedings of the board of directors. The secretary may cause copies to be made of all minutes and other records and documents of the agency, and may give certificates under its official seal to the effect that the copies are true copies and all persons dealing with the agency may rely upon the certificates. The treasurer shall have charge of the books of account and accounting records of the agency, and shall be responsible, under the supervision of the executive director, for financial control for the agency. The board shall appoint and establish compensation benefits and other terms of employment for other officers and employees of the agency as it deems reasonable and necessary. Officers of the agency shall serve at the pleasure of the board or under contracts of employment; provided, however, that no contract of employment shall exceed a term of three (3) years, which may be renewed upon the expiration for successive terms.

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Terms Used In Rhode Island General Laws 46-12.2-5

  • Agency: means the Rhode Island clean water finance agency, and, effective September 1, 2015, and thereafter, shall mean the Rhode Island infrastructure bank;

    (2)  "Approved project" means any project or portion thereof that has been issued a certificate of approval by the department for financial assistance from the agency, and also includes any project approved for financial assistance from the agency in accordance with state law, and, furthermore, shall include water pollution abatement projects funded outside of the water pollution control revolving fund, the Rhode Island water pollution control revolving fund, or the local interest subsidy trust fund, without the requirement of the issuance of a certificate of approval; and, furthermore, shall include resiliency related infrastructure projects, and projects which may, subject to compliance with all state and federal requirements, include state and federal infrastructure located within the state of Rhode Island;

    (3)  "Board" means the board of directors of the agency;

    (4)  "Bond act" means any general or special law authorizing a local governmental unit to incur indebtedness for all or any part of the cost of projects coming within the scope of a water pollution abatement project, or for other projects related to this chapter, including but not limited to, § 45-12-2;

    (5)  "Bonds" means bonds, notes, or other evidence of indebtedness of the agency;

    (6)  "Certificate of approval" means the certificate of approval contemplated by Rhode Island General Laws 46-12.2-2

  • Chief executive officer: means the mayor in any city, the president of the town council in any town, and the executive director of any authority or commission, unless some other officer or body is designated to perform the functions of a chief executive officer under any bond act or under the provisions of a local charter or other law;

    (8)  "Clean Water Act" or "act" means the Federal Water Pollution Control Act, act of June 30, 1948, ch. See Rhode Island General Laws 46-12.2-2

  • Contract: A legal written agreement that becomes binding when signed.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • seal: shall be construed to include an impression of the seal made with or without the use of wax or wafer on the paper. See Rhode Island General Laws 43-3-15

(b)  Present or past directors, officers, employees, or agents of the agency may be indemnified by the agency to the extent allowed by and in accordance with the indemnification provisions applicable to nonprofit corporations pursuant to § 7-6-6, as amended from time to time. The agency shall be a public body for purposes of § 9-1-31.1.

(c)  The agency shall be subject to the provisions of § 42-11.3-1 and the executive director shall not be deemed to be a director as used in said section.

History of Section.
P.L. 1989, ch. 303, § 2; P.L. 1993, ch. 259, § 2.