Sec 41-2252. Greater Arizona development authority; board; staff; conflict of interest prohibited; violation; classification

A. The greater Arizona development authority is established. The authority shall be governed by a board of directors consisting of the following members:

1. The chief executive officer of the Arizona commerce authority or the director's designee who shall serve as the chairperson.

2. The director of the department of environmental quality or the director's designee.

3. The director of the department of transportation or the director's designee.

4. The state treasurer or the state treasurer's designee.

5. Five members, one of whom is a representative of a tribal nation of Arizona, appointed by the governor pursuant to section 38-211. All appointed members shall reside in different counties, and no more than three members may be members of the same political party.

B. Members appointed by the governor serve staggered five year terms.

C. Members of the board are not eligible to receive compensation for their services under this chapter but are eligible for reimbursement of expenses pursuant to title 38, chapter 4, article 2 for their services under this chapter.

D. Members of the board serving under this chapter are public officers for purposes of title 38, chapter 3, article 8 and the authority is a public body for purposes of title 38, chapter 3, article 3.1.

E. No appointed member may serve more than two consecutive terms, except that service for a partial term of less than three years shall not be counted toward the two term limitation.

F. The water infrastructure finance authority of Arizona shall provide general administrative support, equipment and office and meeting space to the greater Arizona development authority.

G. The water infrastructure finance authority of Arizona may hire staff to provide administrative and technical assistance on behalf of the authority. Earnings on the monies in the greater Arizona development authority revolving fund may be used to pay for staff services.

H. Members of the board shall not participate in any direct discussions or actions related to any project financed under this article in which the member has any direct or indirect personal financial interest. For purposes of this subsection, a member of the board who is an employee or official of a participant in or applicant for a loan shall not be considered to have a direct or indirect personal financial interest in a project by virtue of the member's services alone. A violation of this subsection is a class 1 misdemeanor.