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G~NrER~' ASSEM[BLY OF NORTH CAROLINA SESSION 1989 I (b) Terms of Office. Except as otherwise provided in the schedule set 2 forth below, the term of office of each member of the Amhority shall be three years. 3 The terms shall be staggered so that after the initial members of the Authority are 4 appointed, three memoers are appointed each year, implemented as follows: 5 (1) Seats 1, 2, and 3 shall be appointed initially for one year, and 6 thereafter 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 10 thereafter for three years. 11 (c) Powers and Duties of the Authority. [n addition to any other powers 12 and duties of the Authority other'vise conferred by law, the Authority may contract 13 with any person, firm, corporation, or agency to assist it in the promotion of travel 14 and tourtsm and to carry out the purposes identified in Section l(e) of this act. The 15 Authority may accept contributions from any source to be used for the purposes 16 stated in Section (1)(e) of this act. 17 On or before April 1 of each .,,'ear after the levy of the tax authorized in 18 this act, the Authority shall prepare an annaal budget based upon anticipated 19 revenues and shall submit the budget to the Cabarrus County Manager for processing 20 and approval through the regular budget procedure of the County. The Authority 21 shall make quarterly reports to the board detailirtg its revenues, expenditures, and 22 activities. The County may a-udit the Au:hority's financial records upon reasonable 23 notice to the Authority At the end of each fiscal year, any funds of the Authority 1 24 not expended, obligated, or reserved, as approved by the County, shall be remitted to 25 Cabarrus County for its use. 26 Sec. 3. Effective Date. This act is effective upon ratification. Phge 4 House Bih 813