Sec. 1. Washington County Development Authority established; incorporation; purposes. The territory, cities, towns and plantations that on the effective date of this Act comprise Washington County constitute a body politic and corporate to be known as the Washington County Development Authority, referred to in this Act as the "authority," for the benefit and welfare of the inhabitants of Washington County and to:

1. Strengthen the financial condition of local governments within the geographic territory of the authority while combining resources and sharing costs for meeting regional economic development needs and challenges;

2. Promote and develop infrastructure and programs for employment and economic development opportunities and other conditions to positively affect regional development;

3. Provide an organization to enable economic development among local governments and agencies and to promote cooperative economic development and coordinated action among members;

4. Serve as a forum to identify, discuss, study and focus on regional economic development challenges and opportunities;

5. Provide a mechanism for the preparation, maintenance and distribution of economic development strategies of the region;

6. Serve as a means for the collection and exchange of economic development information;

7. Actively promote and facilitate economic development throughout the region;

8. Speak on behalf of the membership of the authority;

9. Coordinate with state and federal development programs;

10. Make recommendations for review and action to its members and other public agencies that perform economic development and related functions within the region; and

11. Coordinate and collaborate with other public and quasi- governmental and private organizations in any manner that is intended to promote economic development.