Resolution - 2010 - 10-29 - Appointing Members To The Board Of Directors Of The Industrical Development Corporation - 11/09/2010
RESOLUTION NO. 10-29
A RESOLUTION APPOINTING MEMBERS TO 1HE BOARD OF DIRECTORS OF 1HE
INDUSlRIAL DEVELOPMENT CORPORATION OF 1HE CITY OF EAGLE, IDAHO;
AND PROVIDING FORAN EFFECTIVE DATE.
BE IT RESOLVED BY 1HE CITY COUNCIL OF 1HE CITY OF EAGLE, IDAHO AS
FOLLOWS:
WHEREAS, The City of Eagle, Idaho (the "City") has heretofore, by Ordinance No. 385, adopted
on F ebruaIy 13, 200 1, authorized and provided for the establishment, organization and operation of a
public coIpOration to implement Chapter 27, Title 50, Idaho Code;
WHEREAS, Said Ordinance No. 385 provided for the appointment of the Board of Directors of the
Industrial Development CotpOration of the City of Eagle, Idaho (the "CotpOration"); and
WHEREAS, There are now vacancies on the Board of Directors and the City Corncil desires to fill
said vacancies and fix their terms of office;
NOW THEREFORE, IT IS HEREBY FURlHERRESOL VED AS FOLLOWS:
Sectionl: The terms of office of the Board of Directors of the CotpOration shall commence at their
initial meeting. Those Directors, and the expiration dates of their terms of office, are as follows:
Name
Expiration Date
3 year (11/9/13)
2 year (11/9/12)
1 year (11/9/11 )
John Grasser
Delores Rutledge
Ron Marshall
Section 2: This Resolution shall be in full force and effect from and after its passage and approval.
PASSED AND ADOPTED BY 1HE City Corncil of the City of Eagle, Idaho, and approved by
the Mayor this _ day ofNovember, 2010.
CITY OF EAGLE
By~IJ,~
AMES D. REYN
MAYOR
ATTEST:
BY:,.lQ~().-L<> -~ GD~/hA-"
SHARONK BERGMANN
CITY CLERK
I, the rndersigned, the CIeri< of the City of Eagle, Idaho, hereby certifY that the foregoing Resolution
is a full, true and correct copy of a Resolution duly passed and adopted at a regular meeting of the
City Corncil of said City, duly and regularly held at the regular meeting place thereof on
//-? ,2010, of which meeting all members of said Board had due notice,
and that at said meeting said Resolution was adopted.
IN WITNESS WHEREOF, I have set my hand and affixed the official seal of said City on
11-'1 ,2010.
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CLERK
ORDINANCE NO. 385
AN ORDINANCE OF THE CITY OF EAGLE, ADA COUNTY, IDAHO, AUTHORIZING
AND PROVIDING FOR THE ESTABLISHMENT, ORGANIZATION, AND OPERATION
OF A PUBLIC CORPORATION TO IMPLEMENT CHAPTER 27, TITLE 50, IDAHO
CODE; APPROVING A CHARTER FOR SUCH CORPORATION; SPECIFYING THE
POWERS, AUTHORITY, AND LIMITATIONS OF THE PUBLIC CORPORATION;
PROVIDING FOR CONTROL AND SUPERVISION OF THE PUBLIC CORPORATION
BY THE CITY; REPEALING CONFLICTING ORDINANCES; PROVIDING FOR
RELATED MATTERS; AND PROVIDING EFFECTIVE DATE
WHEREAS, the Legislature of the State of Idaho has provided
for the creation of public corporations by cities of the State of
Idaho, pursuant to Chapter 27, Title 50, Idaho Code, for the
purpose of facilitating economic development and employment
opportunities in the State of Idaho through financing by such
public corporations of the project costs of industrial
development facilities, all as authorized by Article 8, Section
5, Idaho Constitution; and
WHEREAS, the City of Eagle desires to avail itself of the
authority contained in Chapter 27, Title 50, Idaho Code, by
creating a public corporation for the purposes stated therein.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF
THE CITY OF EAGLE, IDAHO, as follows:
Section 1: The City of Eagle, Ada County, Idaho (the
"City"), does hereby create a public corporation, as authorized
by Section 50-2703, Idaho Code, to carry out the purposes of the
Municipal Industrial Development Program Act, the same being
Chapter 27, Title 50, Idaho Code (the "Act"). The City reserves
the power, as provided in Section 50-2703, Idaho Code, to alter
or change the structure, organization and programs, or activities
of the public operation, or to dissolve the same, at any time.
Section 2: The name of the public corporation shall be The
Industrial Development Corporation of the City of Eagle, Idaho
(the II Corporat ion ") .
Section 3: The Corporation shall have all of the powers and
shall be subject to all of the requirements and limitations
contained in the Act and as set forth in this ordinance.
Section 4: A charter is hereby issued to the Corporation by
the City, which shall grant to the Corporation all powers
authorized by the Act. A copy of the charter granted hereby is
annexed to this ordinance as Exhibit "A" and is by reference
incorporated herein. The charter may be amended from time to
time by ordinance duly adopted by the City. The existence of the
Corporation shall commence upon the effective date of this
ordinance.
Page 1
Section 5: The Board of Directors of the Corporation (the
"Board") shall consist of three (3) residents of the City
appointed by the Mayor and confirmed by the City Council. Of the
members first appointed, one member shall be appointed for a term
of one (1) year, one for a term of two (2) years, and one for a
term of three (3) years. Thereafter, upon expiration of the
initial term of appointment, each member shall be appointed to a
three (3) year term. If a vacancy occurs during an unexpired
term, the Mayor shall appoint a member to serve the remainder of
the unexpired term. Each member shall serve until his or her
successor is appointed and qualified. A majority of the members
of the Board shall constitute a quorum, and the approval of a
majority of a quorum shall be necessary for the Board to take any
action.
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Section 6: The business affairs of the Corporation shall be
conducted and carried out by the Board. The Board shall elect
officers from among its own members, which officers shall serve
until their successors have been duly elected. Officers shall
include a president, vice-president, and a secretary-treasurer.
An officer may hold more than one office. The Board shall adopt
by-laws, rules, and regulations governing the conduct of the
Corporation, which may be amended from time to time by the Board.
Members of the Board shall serve without compensation, but may be
reimbursed for actual and necessary expenses as provided by the
by-laws, rules, and regulations of the Board.
Section 7: No director, officer, agent, or employee of the
Corporation shall have, directly or indirectly, any financial
interest in any property to be included in, or any contract for
property, services, or materials to be furnished or used in
connection with, any industrial development facility financed
through the Corporation.
Section 8: The Corporation shall have all the powers
granted by the Act, including, without limitation, all powers set
forth in the charter. The Corporation shall be subject to all of
the requirements and I imi tations set forth in the Act, in this
ordinance, and in the charter.
Section 9: The Corporation may not operate any industrial
development facilities as a business other than as lessor,
seller, or lender, but may purchase and hold mortgages, deeds of
trust, or other security interests and contract for any servicing
thereof.
Section 10: The City shall not give or lend any money ln
aid of the Corporation except as expressly authorized by the Act,
nor exercise its powers of sovereignty, including the police
power, the power of taxation, or the power of eminent domain, for
or on behalf of the Corporation. This provision shall not
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preclude the City from contracting with the Corporation for the
provision of services to the Corporation or otherwise dealing
with the Corporation on an arms-length basis. The City may, as
authorized by Section 50-2706, Idaho Code, accept grants from the
United States and apply grants in connection with industrial
development facilities.
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Section 11: The Corporation shall not issue revenue bonds
or other financing obligations except upon the approval of the
City Council of the City. The Corporation may not exercise any
powers or issue any revenue bonds or other obligations with
respect to any industrial development facility unless such
facility is located wholly within the boundaries of the City,
except as set forth in the Act and in the charter.
Section 12: Any net earnings of the Corporation beyond
those necessary for retirement of indebtedness incurred by it
shall inure to the City and not for the benefit of any other
person. Upon dissolution of the Corporation, as provided by the
Act, title to all property owned by the Corporation shall vest in
the City.
Section 13: All ordinances or portions of ordinances in
conflict with this ordinance are, to the extent of such conflict,
hereby repealed.
Section 14: This ordinance, or a summary thereof as
provided by Section 50-901A, Idaho Code, substantially in the
form which is annexed hereto as Exhibit "B," shall be published
once and shall take effect and be in full force from and after
its passage, approval, and publication.
DATED this /3-t11 day of r",/brua r'1 ' 2000.
CITY OF EAGLE
Ada County, Idaho
By:
ATTEST:
M C<.--kL--c \L- ~ ~
""""City'" Clerk
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