(a)      There is hereby created a body politic and corporate to be known as the "Maryland Health and Higher Educational Facilities Authority". Said Authority is constituted a public instrumentality and the exercise by the Authority of the powers conferred by this article shall be deemed to be the performance of an essential public function.

      (b)      The Authority shall consist of nine (9) members, one of whom shall be the Treasurer of the State of Maryland, ex officio, and eight of whom shall be residents of the State appointed by the Governor. The Treasurer may appoint, as the Treasurer's designee, a deputy treasurer to serve as a member of the Authority. Of the members first appointed, one shall serve for a term ending one year from July 1, 1970, one shall serve for a term ending two years from July 1, 1970, two shall serve for terms ending three years from July 1, 1970, two shall serve for terms ending four years from July 1, 1970, and two shall serve for terms ending five years from July 1, 1970. Their successors shall serve for terms of five years each. Members shall continue in office until their successors have been appointed and qualified. The Governor shall fill any vacancy for the unexpired term. A member of the Authority shall be eligible for reappointment. The Governor may remove any of the appointed members serving at any time and reappoint a person to stand in the place of the member so removed to serve for the balance of the term of the member who had been removed. Each member of the Authority, before entering upon his duties, shall take an oath to administer the duties of his office faithfully and impartially, and such oath shall be filed in the office of the Secretary of State.

      (c)      The Governor shall annually designate one of the members of the Authority as chairman and one as a vice-chairman.

      (d)      The Authority shall appoint, subject to the approval of the Governor, an executive director. The Authority may also appoint, subject to the approval of the Governor, a general counsel, either on a full-time or a part-time basis as the Authority may determine. The Authority may create additional offices, appoint additional officers, and prescribe the duties and responsibilities of all officers. Neither the Executive Director nor the General Counsel shall be members of the Authority. The Executive Director, the General Counsel and any additional officer or officers appointed by the Authority shall serve at the pleasure of the Authority, and shall receive such compensation as determined by the Authority.

      (e)      The Executive Director shall keep a record of the proceedings of the Authority and shall be custodian of all books, documents and papers filed with the Authority and of the minute book or journal of the Authority and of its official seal. He, and any other officer so authorized by the Authority, may cause copies to be made of all minutes and other records and documents of the Authority and may give certificates under the official seal of the Authority to the effect that such copies are true copies, and all persons dealing with the Authority may rely upon such certificates. The records and documents of the Authority shall be considered public records subject to reasonable inspection. The Executive Director shall, subject to the supervision and direction of the Authority, be the chief administrative officer of the Authority.

      (f)      The General Counsel, if one is appointed, shall be the legal advisor to the Authority. He shall, when directed by the Authority, represent the Authority in judicial or other proceedings.

      (g)      The Authority may authorize any member or officer of the Authority to perform any act necessary or convenient to carry out the powers granted by this article to the Authority or any of its officers, including without limitation the execution of any bonds, obligations, evidences of indebtedness, certificates, deeds, leases, mortgages, agreements, or other documents or instruments.

      (h)      Five members of the Authority shall constitute a quorum and the affirmative vote of a majority of the members present at a meeting of the Authority having a quorum present shall be necessary for any action taken by the Authority. No vacancy in the membership of the Authority shall impair the right of a quorum to exercise all the rights and perform all the duties of the Authority as aforesaid. Any action taken by the Authority under the provisions of this article may be authorized by resolution at any regular or special meeting, and each such resolution shall take effect immediately and need not be published or posted.

      (i)      Each member of the Authority, the Executive Director, all other officers, and the employees of the Authority, shall, upon entering the performance of their duties, be covered by a surety bond in accordance with the provisions of Title 9, Subtitle 17 of the State Government Article.

      (j)      The members of the Authority shall receive no compensation for the performance of their duties hereunder, but each such member shall be paid his necessary expenses incurred while engaged in the performance of such duties, in accordance with the Standard State Travel Regulations.