EDA Packet 01-20-2026 - Laserfiche WebLink

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Amended Res. 23-01 Amended January 2024 secretary, and an assistant treasurer. The Authority shall elect the president, vice president, treasurer, and secretary annually. The offices of president and vice president may not be held by the same commissioner concurrently. The offices of assistant treasurer and secretary need not be held by commissioners. The economic development director of the City shall be the Authority’s executive director. (01) President - Shall be selected from among the commissioners, shall preside at all meetings of and shall have general charge of and control over the affairs of the Authority subject to the approval of the commissioners. (02) Vice President - Shall be selected from among the commissioners, shall preside at all meetings in the absence of the president and shall perform such duties as may be assigned to him by the commissioners. In case of death, retirement, resignation, or disability of the president, the vice president shall perform and be vested with all the duties and powers of the president. (03) Treasurer - Shall be selected from among the commissioners, shall receive and is responsible for Authority money and for acts of the assistant treasurer. (04) Secretary - The secretary shall be the Authority’s executive director. The secretary shall be responsible for taking and preparing minutes of each meeting of the Authority. Further, the secretary shall be responsible for maintaining any appropriate files as deemed necessary by the commissioners, including files of the minutes, publications of meetings, and meeting agenda. The Secretary shall also perform such functions as may be deemed necessary by the president. (05) Assistant Treasurer - The assistant treasurer shall be the Authority’s executive director. The powers of the treasurer are delegated to the assistant treasurer. The assistant treasurer shall receive and is responsible for authority money. The assistant treasurer shall disburse Authority money by check only and keep an account of the source of all receipts and the nature, purpose, and authority of all disbursements. By March 31 of each year, the assistant treasurer shall file with the secretary detailed financial statements of the Authority covering the financial operations of the Authority during the twelve (12) month period ending on December 31 of the current year. The assistant treasurer shall provide a bond as required by law. All checks issued by the Authority shall be signed by the assistant treasurer and the President. 3.2) Absentee - In the case of the absence or inability to act of any officer of the Authority or of any person authorized by these bylaws to act in place of the officer, the Authority may from time to time delegate the powers or duties of such officer to any other officer or any commissioner whom it may select. 3.3) Vacancies - Vacancies in office arising from any cause shall be noticed to the Mayor and the City Council. The Authority may recommend a replacement to fill the vacancy to the City Council and the Mayor at its annual meeting or at any regular or special meeting. 3.4) Staff - The Authority shall appoint an executive director and such other staff as deemed necessary to carry out the business of the Authority and may determine their duties, Page 18 of 40