There is hereby created and established a Commission
to be known as the "Economic Development Commission of the Township
of Egg Harbor."
Each member and officer of the Commission shall,
before assuming office, take and subscribe an oath that he will honestly,
faithfully and impartially discharge the duties of his office.
It shall be deemed to be a conflict, of interest
for any member, officer or employee of the Commission to have any
financial interest, directly or indirectly, in any contracts or other
transactions by, of or with the Commission for work or materials used
by the Commission or in any sales, leases or agreements in connection
with lands, buildings or other property owned or controlled by the
Commission or in any fees or compensation of any kind paid to any
broker, architect, engineer, merchant or other person doing business
with the Commission.
The members and officers of the Commission shall
serve without compensation, but each shall receive his actual expenses
incurred in the performance of his duties.
The members of the Commission shall choose annually
from among its members a Chairman or President and such other officers
as they may deem necessary. The Mayor and Township Committee may choose
a representative from the Committee to serve as an ex officio member
of the Commission. A majority of the members shall constitute a quorum
of the Board.
The Commission shall adopt suitable bylaws for
the management of its affairs, shall determine the qualifications
and duties of its employees and may fix the compensation to be paid
to any of its employees, subject to the budget for the Commission
as adopted by the Township Committee.