Source: http://fsmlaw.org/chuuk/code/title17/T17_Ch11.htm
Timestamp: 2019-04-20 08:18:11+00:00

Document:
§ 1332. Area of service.
§ 1333. Purpose of Authority.
§ 1334. Board of Directors.
§ 1335. Powers of the Authority.
§ 1336. Suits and Legal Representation.
§ 1340. Budget and Finance Officer.
§ 1341. Accounts and records.
§ 1342. Taxation of the Authority.
§ 1344. Notification to Municipal Governments regarding projects.
§ 1345. Land acquisition and relocation assistance.
The Outer Faichuk Development Authority is hereby established as a public corporation under the laws of the State of Truk Chuuk and the Federated States of Micronesia. The principal office of the Authority shall be at a location determined by the Board.
Source: TSL 5-54, § 1.
Editor's note: TSL 5-54 which created this chapter was signed into law by the Governor on May 4, 1983.
§ 1332. Areas of Service.
Source: TSL 5-54, § 2.
The Authority shall identify the development needs of its area of service, and shall promote by its own activity and that of others, economic development in coordination and cooperation with state and national governments, and private and cooperative enterprises.
Source: TSL 5-54, § 3.
(1) Establishment. There shall be a Board of Directors of the Outer Faichuk Development Authority which shall have general management and control over the Authority.
(2) Composition. The Board shall be composed of 9 nine members. A magistrate from each of the municipalities named in Section 1332, one councilman appointed by each of the municipal councils thereof, and the State Senators representing the area and the national congressman representing the Faichuk area.
Source: TSL 5-54, § 4, modified.
(13) To approve bylaws, policies, and procedures, for the guidances and operation of the Authority.
Source: TSL 5-54, § 5, modified.
(1) The Authority may sue and be sued in its own name; provided that any liability incurred by the Authority, when not acting as an agent of the State or other governmental entity, shall not be a liability of the State or other governmental entity.
(1. 2) The Chuuk State Attorney General of Truk shall represent and assist the Authority in legal service matters, except in cases of conflict of interest.
Source: TSL 5-54, § 6, modified.
(1) The Authority, through the Board, may receive manage, invest, and disburse funds or other property which may be appropriated, granted, or in any other manner received from any source for the purpose of the Authority. The Authority may use governmental accounting procedures or, if appropriate, such financial or accounting system as may be prescribed by law for commercial companies.
(2) The Authority may purchase supplies, equipment and materials through its own purchasing procedures or governmental purchasing procedures as it may deem appropriate.
Source: TSL 5-54, § 7.
The Board shall prepare and submit a budget for the Authority for each governmental fiscal year, in the manner provided by law for the preparation and submission of budgets of departments and offices in the State Government of Truk Chuuk . Over-obligation and over-expenditure of funds are prohibited, and shall be punishable in the same manner as provided for the State Government of Truk Chuuk.
Source: TSL 5-54, § 8.
There shall be an Executive Director of the Authority, who shall be appointed by the Board to serve at its pleasure. The Board shall establish the salary of the Executive Director. The Executive Director shall be responsible for the management of the programs, projects and other activities of the Authority, and shall employ, supervise and terminate the employees of the Authority in accordance with general terms and rules of employment by the Board, except as provided in Section 1340 10 thereof of this Chapter.
Source: TSL 5-54, § 9, modified.
The Executive Director shall appoint, with the concurrence of the Board, a Budget and Finance Officer, for such term as shall be provided in the bylaws. The Budget and Finance Officer shall receive and disburse all funds of the Authority. Before entering into his duties, he shall execute, at the expense of the Authority, a good and sufficient bond in the sum of not less than $10,000, or such greater sum as may be established by the Board. Said bond shall be made with one or more sufficient sureties authorized to do business in the Federated States of Micronesia; and shall be approved as to form by the Attorney General of the State of Truk Chuuk. The Budget and Finance Officer shall serve at all times under the direct supervision of the Executive Director.
Source: TSL 5-54, § 10.
The Board and the Executive Director shall be jointly responsible to ensure that the Budget and Finance Officer prepares proper and complete books of accounts reflecting all income, expenditures, assets, and liabilities of the Authority, including appropriations, grants and property. The Board, not later than 60 sixty days after the close of each governmental fiscal year, shall submit to the Governor and the President and Speaker of the Legislature a complete report showing the activities of the Authority during the fiscal year, the present condition of the Authority, and such other matters as the Board shall deem appropriate. The Auditor, or if there be no such officer, a licensed accountant appointed by the Board, shall inspect and audit all accounts of the Authority at least annually, and report thereon to the Governor and President and Speaker of the Truk Chuuk State Legislature.
Source: TSL 5-54, § 11, modified.
(3) The Board may, by general rules applicable to all employees, assign to such employees levels of wages and benefits that take into account, in whole or in part, their prior governmental employment.
Source: TSL 5-54, § 13, modified.
Source: TSL 5-54, § 14.
(1) Any activity of the Authority which requires the acquisition of a right in private real property shall be governed by the requirements of Truk State Law No. 2-1. The State Government shall be responsible for such property acquisition and relocation assistance.
(2) The Authority shall promptly notify the State Government whenever it requires use of or acquisition of private real property of the State or the Public Lands Authority. The notification shall describe with specificity the property to be used or acquired, the reasons for its need, the extent and duration of possession required, alternative possibilities that have been considered and rejected and the reasons therefor, and the date by which such acquisition or use is expected to commence. Any rights in private property acquired for the benefit or use of the Authority shall be held by the State Government, except as otherwise specifically provided by law.
Source: TSL 5-54, § 15.

References: § 1333

§ 1334

§ 1335

§ 1336

§ 1340

§ 1341

§ 1342

§ 1344

§ 1345
 § 1

§ 1332
 § 2
 § 3
 § 4
 § 5
 § 6
 § 7
 § 8
 § 9
 § 10
 § 11
 § 13
 § 14
 § 15