Section 705.850 - [Expires by limitation 1 year after the date on which the Governor declares by public proclamation that the Nevada High-Speed Rail System connecting southern California with southern Nevada has been completed, or on the date all borrowing made pursuant to NRS 705.890 is retired, whichever is later] Authority: Creation; membership; terms1. There is hereby created the Nevada High-Speed Rail Authority as a separate legal entity. The governing body of the Authority consists of five members appointed by the Governor. The members must be residents of the State of Nevada and must be appointed based upon their knowledge, expertise or experience in the areas of rail transportation and high-speed rail services. 2. After their initial terms, the members serve for terms of 4 years and may be reappointed at the pleasure of the Governor.3. The Authority shall elect one of its members as Chair.4. The members of the Authority serve without compensation but are entitled to receive the per diem allowance and travel expenses provided for state officers and employees generally while engaged in the official business of the Authority.Added to NRS by 2015, 1263Added by 2015, Ch. 260,§8.5, eff. 5/27/2015.