(1) There is created a body politic and corporate known as the Utah Charter School Finance Authority. The authority is created to provide an efficient and cost-effective method of financing charter school facilities.
(2) The governing board of the authority shall be composed of:
(a) the governor or the governor's designee;
(b) the state treasurer; and
(c) the state superintendent or the state superintendent's designee.
(3) A member may not receive compensation or benefits for the member's service, but may receive per diem and travel expenses in accordance with:
(a) Section 63A-3-106;
(b) Section 63A-3-107; and
(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and 63A-3-107.
(4) Upon request, the state board shall provide staff support to the authority.