(a) The Town Council hereby finds it necessary to finance economic development or pollution control facilities under the act.

(b) The Town Council hereby establishes a department of economic development, to be controlled by a commission (the "commission") known as "St. John Economic Development Commission."

(c) After the adoption of this section, the clerk-treasurer of the Town, is hereby authorized and directed to promptly notify the Town Council president, this Town Council and the county council.

(d) No member of the commission shall be entitled to any salary, per diem allowance or other compensation, except reimbursement for expenses necessarily incurred in the performance of such member's duties.

(e) Any officer of the Town is hereby authorized and directed, for and on behalf of the Town, to execute and deliver any instrument or take any other action as such officer determines to be necessary or desirable to accomplish the purposes of this ordinance, such determination to be conclusively evidenced by such officer's having executed such instrument or having taken such action, and any such officer's having executed and delivered any such instrument or having taken any such action is hereby ratified and approved.