Executive Director.

(a) The Board shall appoint an Executive Director who shall be the chief administrative officer of the Authority. The Executive Director shall not be a member of the Board and shall serve at the pleasure of the Board. The Executive Director shall be a District resident throughout his or her term and failure to maintain District residency shall result in a forfeiture of the position. (b) In addition to any other duties set forth in this chapter, the Executive Director shall: (1) Supervise and manage all business affairs and operation and management of properties of the Authority; (2) Sign and execute all authorized bonds, contracts, and other obligations in the name of the Authority; (3) Perform all administrative duties as may be required by the Authority; and (4) Perform all other duties as the Authority may require to carry out the provisions of this chapter.