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The City Council is hereby authorized to immediately nominate and appoint the directors to <br /> Positions One through Five of the Board of Directors, and is further authorized to appoint City's <br /> Position Six at any time they deem necessary. City Council may nominate and appoint the directors <br /> to any position unfilled on January 1, 2000. <br /> The directors appointed to odd-numbered positions shall be appointed for two year terms, <br /> beginning on the effective date of this Ordinance, while the directors appointed to even-numbered <br /> positions shall be appointed to a one year term, beginning on the effective date of this Ordinance. All <br /> subsequent appointments shall be for two-year terms. The member of the Board of Directors <br /> appointed to Position Three is hereby designated to serve as the chair of the Board of Directors for <br /> a one-year term beginning on the effective date of this Ordinance. Thereafter the Mayor shall <br /> annually nominate and appoint, subject to City Council approval, a member to serve as chair for a <br /> term of one year beginning on the anniversary of the effective date of this Ordinance. The City <br /> Council authorizes the Board of Directors to elect from its members a vice-chairman and such other <br /> officers as the Board of Directors sees fit. <br /> The Board of Directors shall make recommendations to the City Council concerning the <br /> administration of the Zone. The Board of Directors shall prepare or cause to be prepared and adopt <br /> a project plan and a reinvestment zone financing plan for the Zone as described in Section 311.011, <br /> Texas Tax Code, and shall submit such plans to the City Council for its approval. The City hereby <br /> delegates to the Board of Directors all powers necessary to prepare and implement the project plan <br /> and reinvestment zone financing plan, subject to approval by the City Council, including the power <br /> to employ any consultants or enter into any reimbursement agreements payable solely from the Tax <br /> c:\MY DOCUMFNIS\TIRDPROPOSED TIRZ CREATION ORD(5-18-99).DOC <br /> -5- <br />