Laserfiche WebLink
5.2) Existing Projects -The Authority shall have no control nor authority over any existing <br />economic development or redevelopment project in the Ciry unless specifically so provided by <br />resolution of the City Council. If the City Council adopts a resolution transferring control, authority <br />and operation of any existing project to the Authority, the Authority shall accept control, authority, <br />and operation of the project. When taking control of an existing project the Authority may exercise <br />all for the powers that the governmental unit established in the project could exercise with respect to <br />the project and shall covenant and pledge to perform the terms, conditions, and covenants of any <br />bond indentures or other agreements executed with respect to the project. <br />5.3) Advisory Committees -The Authority shall maintain, at their discretion, volunteer <br />advisory committees which will act in an advisory capacity to the Authority. <br />(01)The advisory committees will include without limitation: <br />(a) A finance committee; <br />(b) A marketing committee; <br />(c) A prospecting committee; <br />(d) A research and development committee. <br />(02) All members of the advisory comtriittees will be appointed by the Authority. <br />(03) The responsibility of the advisory committees shall be to advise and assist the Authority and to <br />work with the executive director of the Authority and the economic development coordinator of the <br />City on assignments if needed. <br />Adopted this 22nd day of August, 1988. <br />Estelle Gunkel, President <br />