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.... RAJ., ASSEMBLY OF NORTH'CAROLINA SESSION 1989 (b) Terms or' Offi:ce. Except as otherwise provided in the schedule set 2 forth below, the term of office"of each member of the Authority shall be three years. 3 The terms shall be staggered so thai after the initial members of the Authority are 4 appointed, three members are appointed each year, implemented as follows: 5 (1) ,.5. eats 1, 2, and 3 shall be appointed initially for one year, and 6 (hereafter for three years; 7 (2) Seats' 4, 5, and 6 shall be appointed initially for two years, and 8 thereafter for three years; and 9 (3) Seats 7, 8, and 9 shall be appointed initially for three years, and 0 thereafter for three years. 1 (c) Powers and Duties of the Authority. In addition to any other powers 2 and duties of the Authority otherwise conferred by law, the Authority may contract 3 with any person, firm, corporation, or agency to assist it in the promotion of' traveI 4 and tourism and to carry out the purposes identified in Section l(e) of this act. The 5 Authority may ac'cept contributions from any source to be used for the purposes 6 stated in Section (l')(e) of this act. 7 On or before April 1 of each year after the lev-y of the tax authorized in 8 this act, 'the Authority shal. l .prepare an annual budget based upon anticipated 9 revenues and shall submit the budget to the Cabarrus County Manager for processing 0 ~ through'~the regular budget procedure of the County. The Authority 1 shall make quarterly reports to the board detailing its revenues, expenditures, and '2 activities. The Cou.nty may audit the Authority's financial records upon reasonable 3 notice to the Authority. At the end of each fiscal year, an), funds of the Autho~rity 4 not expended, obligated, or reserved, as approved by the .County, shall be remitted to 5 ~a.barrus County for'it~ us~. Sec. 3. Effective Date. This act is effective upon ratification. .Phge 4 House Bil, 813