(a) Establishment.--There is hereby established a body corporate and politic, with corporate succession, to be known as the Pennsylvania Infrastructure Investment Authority. The authority is constituted an instrumentality of the Commonwealth, and the exercise by the authority of the powers conferred by this act shall be deemed and held to be a public and essential governmental function.

(b) Membership.--The authority shall consist of a 13-member board of directors composed of the Governor; the Secretary of Environmental Resources;¹ the Secretary of Commerce;² the Secretary of Community Affairs;³ the Secretary of General Services; the Secretary of the Budget; two Senators, one each to be appointed by the President pro tempore of the Senate and the Minority Leader of the Senate; two members of the House of Representatives, one each to be appointed by the Speaker of the House of Representatives and the Minority Leader of the House of Representatives; and three persons to be appointed by the Governor, one of whom shall be a registered engineer in this Commonwealth, one of whom shall be a representative of water supply and sewage treatment system industries, and one of whom shall be a representative of a State local government association. The three members appointed by the Governor shall serve for a term of two years and shall be eligible for reappointment.

(c) Officers.--The Governor shall be the chairman and chief executive officer of the authority. The board shall biannually elect a vice chairman. The board shall select a secretary and treasurer who need not be members of the board, and the same person may be selected to serve as both secretary and treasurer.

(d) Vesting of powers.--The powers of the authority shall be vested in the board in office from time to time, and eight members of the board shall constitute a quorum at any meeting. Action may be taken and motions and resolutions adopted by the authority by the affirmative vote of at least seven members of the board. No vacancy on the board shall impair the right of a quorum of the members of the board to exercise the powers and perform the duties of the authority.

(e) Designees.--Each public officer member of the board may designate an officer or employee of the Commonwealth to represent him at meetings of the board. Each designee may lawfully vote and otherwise act on behalf of the member of the board for whom he constitutes the designee. The designation shall be in writing delivered to the authority and shall continue in effect until revoked or amended in writing delivered to the authority.

(f) Services.--Research, investigation and other services necessary for the operation of the board shall be carried out from resources and by employees from the various executive departments represented on the board. All applicable Commonwealth departments and agencies shall cooperate with, and provide assistance to, the board, which may, at its discretion, provide financial reimbursement.

(g) Dissolution.--The authority may be dissolved by law, provided that the authority has no bonds or other debts or obligations outstanding or that provision has been made for the payment or retirement of all such bonds, debts and obligations. Upon any dissolution of the authority, all property, funds and assets of the authority shall be vested in the Commonwealth.