7-14-1002. Transportation improvement authority. (1) A county and a municipality within a county may, by joint resolution, create a transportation improvement authority authorized to exercise its functions upon the appointment and qualification of the first commissioners.
(2) (a) Except as provided in subsection (3), the resolution creating the transportation improvement authority must create a board of nine commissioners appointed as follows:
(i) two county officials appointed by the county commissioners;
(ii) two public members appointed by the county commissioners;
(iii) two municipal officials appointed by the governing body of the municipality;
(iv) two public members appointed by the governing body of the municipality; and
(v) one member appointed by the governor.
(b) The public members must be knowledgeable about transportation issues.
(c) The resolution must state the terms of the commissioners and their compensation, if any.
(3) A transportation improvement authority may be increased to serve one or more additional counties or municipalities if each additional county or municipality, each county and municipality included in the authority, and the commissioners of the authority adopt a joint resolution consenting to the increase. The number of additional commissioners to be appointed must be provided for in the joint resolution.
(4) A transportation improvement authority may be dissolved if each municipality and county included in the authority and the commissioners of the authority consent to the dissolution. Provisions must be made for the retention or disposition of the authority's assets and liabilities.