Source: http://fsmlaw.org/chuuk/code/title17/T17_Ch10.htm
Timestamp: 2019-04-20 08:43:26+00:00

Document:
§ 1302. Area of service.
§ 1303. Purpose of Authority.
§ 1304. Board of Directors.
§ 1305. Powers of the Authority.
§ 1306. Suits and Legal Representation.
§ 1310. Budget and Finance Officer.
§ 1311. Accounts and records.
§ 1312. Taxation of the Authority.
§ 1314. Notification to Municipal Governments regarding projects.
§ 1315. Land acquisition and relocation assistance.
The Inner Faichuk Social and Economic 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 5-67, § 1.
Editor's note: TSL 5-67 that created this chapter was signed into law by the Governor on August 18, 1983.
Source: TSL 5-67, § 2.
The Authority shall identify the development needs of its area of services; 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 5-67, § 3.
(1) Establishment. There shall be a Board of Directors of the Inner Faichuk Social and Economic Development Authority which shall have general management and control over the Authority.
(2) Composition. The Board shall be composed of seven members. One member from each of the municipalities named in Section 1302, to be appointed by each of the municipal councils thereof, and the two state senators and the national congressman representing the area.
(3) Terms of Office. Terms of office of municipal representatives shall be for a period of three years, except that initial terms of office and filling of vacancies shall be as provided in this Act Chapter. The terms of office shall commence on the day of the first meeting of the Board.
(c) Two for three years.
The first meeting of the Board shall be called by the National Congressman, who shall preside at such meeting until the officers named in Subsection (7) of this Section have been selected.
(5) Vacancies. Each vacancy on the Board shall be filled for the unexpired portion of the term in the same manner as originally filled. Upon a determination that a vacancy exists, the Chairman, or in his absence, the presiding officer of the Board shall issue a notice of vacancy to all members of the Board and to the municipal government responsible for filling the vacancy.
(a) Members of the Board may be removed from the Board, for failure to attend three consecutive meetings of the Board, or for incompetence, neglect of duty, or malfeasance in office.
(b) Removal of a member shall be by a three-fourths (3/4) vote of the other members of the Board. Notification of intent to call for removal pursuant to this Section shall be made at least 30 thirty days in advance, by means which shall be described in the bylaws of the Authority, and shall include a summary of the basis of the charges against the member and identification of the witnesses to be called and evidence to be used.
(c) The Chuuk State Supreme Court of the State of Truk shall have jurisdiction to hear claims of wrongful removal. Upon establishment of the State Court of the State of Truk it shall assume jurisdiction to hear such claim.
(7) Officers. The Board shall elect from among its members a Chairman, Vice-Chairman, and Secretary-Treasurer. The Chairman shall ordinarily preside at Board meetings. In his absence the Vice-Chairman shall preside. The bylaws shall designate the presiding officer in the absence of these officers.
(8) Regular Meetings. Regular meetings shall be held not less than once per calendar quarter, at such time and place as shall from time to time be determined by the Chairman upon notice as shall be provided in the bylaws.
(9) Special Meetings. Special meetings shall be called by the Chairman on his own initiative, or by petition by one-third of the members, pursuant to notice as shall be provided in the bylaws.
(10) Quorum. A quorum of all regular and special meetings and business of the Board shall be six members.
(11) Executive Committee. The Board may, pursuant to its bylaws, establish an Executive Committee, determine the membership thereof, and assign it responsibilities.
(12) Record of Meetings. All meetings of the Board and the Executive Committee shall be public except when confidential matters relating to personnel are discussed. The Secretary-Treasurer or in his absence another member designated by the bylaws shall keep full and accurate minutes of all meetings which, except for confidential matters relating to personnel, shall be available for public inspection at reasonable times and places, as provided by law.
Source: TSL 5-67, § 4, modified.
(13) To approve bylaws, policies, and procedures, for the guidance and operation of the Authority.
Source: TSL 5-67, § 5.
(2) The Chuuk State Attorney General of Truk shall represent and assist the Authority in legal matters, except in cases of conflict of interest.
Source: TSL 5-67, § 6.
(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 5-67, § 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 5-67, § 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 1310 of this Chapter thereof.
Source: TSL 5-67, § 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 $10,000.00, 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 5-67, § 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 5-67, § 11, modified.
To the extent that the legislative capacity of the State of Truk Chuuk can prescribe, the Authority shall be treated as a governmental entity and shall be exempted from taxation in the same manner as a governmental entity with regard to its functions that are governmental in character. With respect to functions that the Authority may undertake that are commercial in character, the Authority shall be treated as a non-profit commercial enterprise.
Source: TSL 5-67, § 12.
(4) The Truk Chuuk State Government shall provide to all former employees of the Authority, who shall have terminated their employment in good standing, such rights of employment and seniority as their service to the Authority, as well as prior government service, would entitle them as if all such service were with the Truk Chuuk State Government, the Government of the Federated States of Micronesia or the Trust Territory Government.
Source: TSL 5-67, § 13, modified.
The Authority shall endeavor to inform affected municipal governments of any projects planned for their communities at the earliest practical opportunity and shall continue to inform the municipal governments and members of the public of the nature of the projects and any substantial changes in their plans.
Source: TSL 5-67, § 14.
(2) The Authority shall promptly notify the State Government whenever it requires use 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 in 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 the law.
Source: TSL 5-67, § 15.

References: § 1303

§ 1304

§ 1305

§ 1306

§ 1310

§ 1311

§ 1312

§ 1314

§ 1315
 § 1
 § 2
 § 3
 § 4
 § 5
 § 6
 § 7
 § 8
 § 9
 § 10
 § 11
 § 12
 § 13
 § 14
 § 15