01-10-11 Meeting of the La Porte Development Corporation Board of Directors

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ïñëñîðïï Ð¿¹» î ±º í (LPEDC quorum is 4, per bylaws) or the number of directors established by a quorum in the bylaws 501.070> Quorum is the lesser of: a majority of the number of directors, Majority of members of City Council (Quorum equals 5 members)Action of Board; Quorum > Notice or waiver of notice of a board meeting is not required to meeting > Director's attendance constitutes a waiver of notice of the > May hold a special meeting with noticefourth week of each month Open Meetings Lawmembers, but does establish meetings to be held second and notice to members of the EDC board, but meetings subject to Charter silent as to requirment of notice of meetings to council 501.068> Board of directors may hold a regular meeting with or without Is subject to Open Meetings Law for all meetings of City Council; Board Meetings, Notice of Meeting > Retirement benefits coverage or through an interlocal agreement coverage under the City's policies or through self-funded > health benefits, liability, workers' compensation, and property benefits 501.067Corporation may obtain:Must give consent for EDC directors or employees to receive Insurance and Benefits which the director or officer is guilty of negligence or misconduct > EDC may NOT indemnify a director or officer for a matter in corporation's reciever or trustee court may assess indemnity against the corporatin or the insurance > If the EDC has not fully indemnified a director or officer, the actions/omissions on behalf of city also covered by city liability asserted against the director or officer (by action in court) immunity and/or sovereign immunity, Texas Tort Claims Act; necessary expenses and costs in connection with a claim protected from most legal claims by doctrines of legislative 501.066> EDC may indemnify a current or former director or officer for City Council members receive a salary, per City Charter; are Indemnification for expenses > Directors serve without compensation but can be reimbursed > City may remove a director for cause or at will terms are 3 years) > Directors serve for a terms of no more than six years (LPEDC directors appointed by the City's governing bodyserve for 3 year terms 501.062> All powers vested in a board consisting of three or more All powers vested in 9 member City Council, elected by citizens to Board of Directors (i.e. not in the name of the City) 501.060May sue and be sued, complain, and defend in its own name May sue and be sued, complain, and defend in its own name May Sue and Be Sued èäðÍÙÛÐõÍÆÈùÍØ×÷ÙÍÎÍÏÓÙø×Æ×ÐÍÌÏ×ÎÈùÍÊÌÍÊÛÈÓÍÎïÇÎÓÙÓÌÛÐõÍÆ×ÊÎÏ×ÎÈéÇÚÒ×ÙÈ éçïïûêãíöóè÷ïéì÷êèûóîóîõèíïçîóùóìûðóèó÷éûîø÷ùíîíïóùø÷æ÷ðíìï÷îèùíêìíêûèóíîé ùÔÛÌÈ×Ê ìÊÍÆÓÉÓÍÎÉõÍÆ×ÊÎÓÎÕø×Æ×ÐÍÌÏ×ÎÈùÍÊÌÍÊÛÈÓÍÎÉ ðÍÙÛÐõÍÆ×ÊÎÏ×ÎÈùÍØ×