(a) The directors of the authority may, by resolution, delegate to the president of the authority, as its chief executive officer, such powers of the authority as may appear, in the discretion of the directors, to be necessary, advisable or desirable in order to permit the timely performance of the administrative functions of the authority and to carry out the plans, policies, procedures and decisions of the directors.

(b) It shall be the responsibility of the directors to delegate only those powers of the authority that may be generally appropriate for the exercise of executive and administrative functions and to reserve to themselves such powers and decisions as may be more properly exercised through the regular deliberative and decision-making processes of the directors.

(c) The president may, with the approval of the directors, assign or redelegate to officers and employees of the authority, any of his delegated powers that in his opinion may be necessary, desirable or appropriate for the prompt and orderly transaction of the business of the authority.