1. A corporation known as "Monroe County Water Authority" is hereby created and continued for the purposes and charged with the duties and having the powers provided in this title. The authority shall be a body corporate and politic constituting a public benefit corporation and shall be a "public district" for the purposes of section eighty-nine-l of the public service law. It shall consist of seven members, no more than five of whom shall belong to one political party and all of whom shall be residents of the county, who shall be appointed by the president of the county legislature of Monroe county subject to confirmation by a majority of the county legislature of Monroe county. The five persons serving as members of the authority on and immediately prior to the effective date of this act, or any person appointed to fill a vacancy for the unexpired term of such a member, shall continue as members of the authority for their present terms of office, or the term of his predecessor in the case of the filling of a vacancy, or until their successor is appointed and qualified and, thereafter, subsequent appointments to such membership positions shall be for terms of five years. After the effective date of this act the two additional members of the authority, in addition to the five memberships existing on and immediately prior to the effective date of this act, shall be appointed by the president of the county legislature of Monroe county subject to confirmation by a majority of the county legislature of Monroe county, one such appointment to be for a term of office expiring on April first, nineteen hundred eighty-one and one such appointment to be for a term of office expiring April first, nineteen hundred eighty-two; upon the expiration of the initial terms of office of such two additional members, subsequent appointments to fill such memberships shall be for terms of five years. In addition, such additional two appointments shall be made in such manner so as to provide that the membership of the authority be composed of seven members, of whom not more than five shall belong to the same political party. Subsequent appointments shall be made in the same manner and for terms of five years. All members shall continue to hold office until their successors are appointed and qualify. The chairman shall be elected annually by the members of the authority. Vacancies, occurring otherwise than by expiration of term of office, shall be filled by appointments by the county legislature for the unexpired terms. Members of the authority may be removed from office for the same reasons and in the same manner as may be provided by law for the removal of officers of the county. The members of the authority shall receive such compensation for their services as shall be fixed by the county legislature and shall be reimbursed for all their actual and necessary expenses incurred in connection with the carrying out of the purposes of this title. The powers of the authority shall be vested in and be exercised by the members at a meeting duly called and held and four members shall constitute a quorum. No action shall be taken except pursuant to the favorable vote of at least four members. The authority may delegate to one or more of its members, officers, agents or employees such powers and duties as it may deem proper. The president of the Monroe county legislature shall further appoint two persons from such legislature for the term of their offices, one from the majority party and one from the minority party, to serve as legislative liaisons to the authority on behalf of such legislature.