1999-05-17 Special Called Meeting and Workshop Meeting

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City of La Porte Interoffice Memorandum To: Robert T. Herrera, City Manager From: Litchfield, Director of Finance/ACM 71 Date: May 7, 1999 Subject: Workshop Item on La Porte Development Corporation At the April 26, 1999 City Council Meeting, a Workshop was held to discuss a draft of the Articles of Incorporation and Bylaws of the City of La Porte Development Corporation. After review by Council, several changes were suggested. Attached are the reviewed drafts of those documents. Since the changes were minor, I elected to present them in memorandum rather than redline format. The only change to the Articles of Incorporation was to add the words "City Secretary" after Martha's name in Article VII, which discusses the name of the initial registered agent. The changes to the Bylaws were: In section 3.02, "October 1" was added in the blank area that related to when the Board of Directors shall appoint a President and Vice -President. This date coincides with their fiscal year. 2. In Section 3.04, "March" was added in the blank area that related to when the Board of Directors shall hold their annual meeting. This date was selected to allow adequate time for the Annual Financial Audit to be conducted. 3. In Section 3.16, regarding Attendance, there was questions regarding what comprised an unexcused absence. In lieu of trying to write a legal definition, I plagiarized off of our Boards and Commission Handbook. The following wording was removed: Three (3) consecutive unexcused absences from meetings of the Board shall cause the position to be considered vacant. Four (4) unexcused absences in a twelve (12) month period shall also cause the position to be considered vacant. The following wording was added: Members who miss more than twenty-five (25%) of called meetings, except for medical reasons, shall be subject to removal by City Council. 4. In Section 4.01, for both the City Secretary and Director of Finance positions, the wording "or their designee" was added. Also, the reference that these officers may also serve as voting Directors was removed.