(a) In Macon County, there is created the Macon County Economic Development Authority to aid and assist current industries and coordinate efforts of all municipal and county agencies of Macon County, and to aid organizations in the development of new industries which will provide job opportunities for the citizens of the county.(b) The authority created pursuant to Section (a) may incorporate or reincorporate as an authority pursuant to Chapter 92A of Title 11. The members of the board of directors of the newly incorporated or reincorporated authority shall be the same as the board members provided for in Section 45-44-90.01, as amended.(c) Any funds distributed or otherwise available to the Macon County Economic Development Authority pursuant to this article or pursuant to Section 45-44-242.12, or otherwise, may be expended or pledged by the authority, or any successor authority, by whatever name known, for the purposes of economic development in Macon County, including for the purpose of securing and the repayment of loans for economic development purposes. Any power, privilege, duty, or exemption granted to any newly incorporated authority or any successor authority shall not be construed as being inconsistent with, replace, negate, or otherwise limit any purpose, power, or source of funds granted to the Macon County Economic Development Authority.
