Resolution - 2014 - 14-04 - Appointing Members To The Board Of Directors Of The Industrial Development Corporation - 02/11/2014 RESOLUTION NO. 14-04
A RESOLUTION APPOINTING MEMBERS TO THE BOARD OF DIRECTORS OF THE INDUSTRIAL
DEVELOPMENT CORPORATION OF THE CITY OF EAGI F,IDAHO;AND PROVIDING FOR AN
EFFECTIVE DA I E.
BE TT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EAGI F,IDAHO AS FOLLOWS:
WHEREAS,The City ofEagle,Idaho(the"Cite has heretofore,by Ordinance No.385,adopted on February 13,2001,
authorized and provided for the establishment,organization and operation ofa public corporation to implement Chapter
27,Title 50,Idaho Code;
WHEREAS,Said Ordinance No.385 provided for the appointment ofthe Board ofDirectois ofthe Industrial
Development Corporation ofthe City ofEagle,Idaho(the"Corporation");and
WHEREAS,There are now vacancies on the Board of Directors and the City Council desires to fill said vacancies and fix
their terms ofoffice;
NOW THEREFORE,IT IS HEREBY FURTHER RESOLVED AS FOLLOWS:
Sectionl: The terms of office ofthe Board ofDirectois ofthe Corporation shall commence at their initial meeting. Those
Directors,and the expiration dates oftheir terms of office,are as follows:
Name Expiration Date
JeffKunz 3 year term—expires 12017
Delores Rutledge Appointed 1/8/13 fora2 year term-expires 1/2015
JeffLaughlin 3 year term-expires 1/2017
Section 2: This Resolution shall be in full force and effect from and after its passage and approval.
PASSED AND ADOPTED BY THE City Council ofthe City ofEagle,Idaho,and approved by the Mayor this / m
day of February 2014.
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•.•�.t Of EA 0 ,4,, CITY OF EAGI
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t SEAL E J A I D.REYN• S
-'•. J''•:r�erort,� ;:,Z.O�.•� MAYOR
ATTEST:
By: Ail 11_
SHARON K BERGMANN
CITY CLERK
I,the undersigned,the Clerk ofthe City of Eagle,Idaho,hereby ceilify that the foregoing Resolution is a full,true and
correct copy of a Resolution duly passed and adopted at a regular meeting ofthe City Council of said City,duly and
regularly held at the regular meeting place thereofonFebruacy 11,2014 ofwhich meeting all members of said Board had
due notice,and that at said meeting said Resolution was adopted.
IN WITNESS WHEREOF,I have set void l affixedthe official seal of said City on the 1/ ay of February
2014. ••.•O�,EAGL,F''•.�
=u 4°P;1 p ti��:O ; SHARON K.BERGMANN
.11 ••9•141oR li5)' Q' CITY CLERK
\STATE Ott"
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.
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 limitations 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 in
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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