5.0 EDSR 07-14-2008 - Laserfiche WebLink

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ARTICLE 5. AMENDMENTS 5.1) Amendments -These Bylaws may be amended at any meeting of the Authority provided that notice of such proposed amendment shall be given to each Commissioner and each member of the governing body of the City prior to such meeting. Amendment of the Bylaws shall be in accordance with the procedural and voting requirements established by these Bylaws or by resolution of the Authority. 5.2) Existing Projects -The Authority shall have no control nor authority over any existing economic development or redevelopment project in the City unless specifically so provided by resolution of the City Council. If the City Council adopts a resolution transferring control, authority and operation of any existing project to the Authority, the Authority shall accept control, authority, and operation of the project. When taking control of an existing project the Authority may exercise all for the powers that the governmental unit established in the project could exercise with respect to the project and shall covenant and pledge to perform the terms, conditions, and covenants of any bond indentures or other agreements executed with respect to the project. 5.3) Advisory Committees -The Authority shall maintain, at their discretion, volunteer advisory committees which will act in an advisory capacity to the Authority. (01)The advisory committees will include without limitation: (a) A finance committee; (b) A marketing committee; (c) A prospecting committee; (d) A research and development committee. (02) All members of the advisory committees will be appointed by the Authority.