08-04-99 Workshop Meeting of La Porte Tax Increment Reinvestment Zone Board of Directors

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( The City Council is hereby authorized to immediately nominate and appoint the directors to Positions One through Five of the Board of Directors, and is further authorized to appoint City's Position Six at any time they deem necessary. City Council may nominate and appoint the directors to any position unfilled on January 1, 2000. The directors appointed to odd-numbered positions shall be appointed for two year terms, beginning on the effective date of this Ordinance, while the directors appointed to even-numbered positions shall be appointed to a one year term, beginning on the effective date of this Ordinance. All subsequent appointments shall be for two-year terms. The member of the Board of Directors appointed to Position Three is hereby designated to serve as the chair of the Board of Directors for a one-year term beginning on the effective date of this Ordinance. Thereafter the Mayor shall annually nominate and appoint, subject to City Council approval, a member to serve as chair for a term of one year beginning on the anniversary of the effective date of this Ordinance. The City Council authorizes the Board of Directors to elect from its members a vice-chairman and such other officers as the Board of Directors sees fit. The Board of Directors shall make recommendations to the City Council concerning the administration of the Zone. The Board of Directors shall prepare or cause to be prepared and adopt a project plan and a reinvestment zone financing plan for the Zone as described in Section 311.011, . Texas Tax Code, and shall submit such plans to the City Council for its approval. The City hereby delegates to the Board of Directors all powers necessary to prepare and implement the project plan and reinvestment zone financing plan, subject to approval by the City Council, including the power to employ any consultants or enter into any reimbursement agreements payable solely from the Tax C;\MY IlCiCUMENTSlTIRZ\PROPOSED TIRZ CREA110N ORD (S-IS.99).DOC -5- ) t. .. "