Section 45-39-90 Creation; Composition; Rulemaking Authority; Community Development Fund.

(a) The Lauderdale County Community Development Commission is hereby created. The commission may receive and by majority vote distribute any funds in the Community Development Fund created pursuant to subsection (d) for the purposes of promoting economic development, education, recreation, conservation, and fire protection. The commission may also expend funds for the purposes authorized in Section 29-2-120. (b) The commission shall be comprised of the following members who shall administer this section and who shall be eligible for successive terms: (1) An elected Lauderdale County official appointed by joint agreement by the legislative delegation representing Lauderdale County for a term of one year or until a replacement is appointed. (2) A person appointed by each senator representing Lauderdale County whose term shall coincide with the term of the senator or until a replacement is appointed. (3) A person appointed by each member of the House of Representatives representing a portion of Lauderdale County whose term shall coincide with the term of the representative or until a replacement is appointed. (c) The commission may promulgate rules related to its operations and procedures for the awarding of grants within the community for the above mentioned purposes. (d) The Community Development Fund is created within the Lauderdale County treasury. The fund shall be comprised of the additional three percent of TVA in-lieu-of-tax payments received pursuant to Section 40-28-2, beginning with the fiscal year which began October 1, 2006. These funds shall be expended on order of the Lauderdale County Community Development Commission; however, after the establishment of an agriculture authority in the county, two-thirds of the proceeds shall be distributed to the commission and one-third of the proceeds shall be distributed to the authority.