Purpose and Typical Duties
The Industrial Development Authority of Madison County may issue bonds from time to time in its discretion, for any of its purposes, including the payment of all or any part of the cost of authority facilities and including the payment or retirement of bonds previously issued by it.
Length of Term
4 Years
Term Limitations
There are no limits on the number of terms a member may serve.
Number of Members
Seven Directors
Meeting Time and Place
Meetings are held in the Board Auditorium at 414 N. Main Street as needed.
Member Qualification
No director shall be an officer or employee of Madison County.
Before entering upon the duties of a member of the authority, an appointee shall not be eligible to be seated until an oath of office is administered by the Clerk of the Circuit Court or other qualified official.
References
Code of Virginia, § 15.2-4904, § 15.2-4908
Appointment Process
Members are appointed by the Board of Supervisors.
Compensation
None.
Members:
