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<br />e <br /> <br />e <br /> <br />The City Council is hereby authorized to inunediately nominate and appoint the directors to <br /> <br />Positions One through Five of the Board of Directors, and is further authorized to appoint City's <br /> <br /> <br />Position Six at any time they deem necessary. City Council may nominate and appoint the directors <br /> <br />to any position unfilled on January 1,2000. <br /> <br />The directors appointed to odd-numbered positions shall be appointed for two year tenns, <br /> <br />beginning on the effective date of this Ordinance, while the directors appointed to even-numbered <br /> <br /> <br />positions shall be appointed to a one year tenD, beginning on the effective date of this Ordinance. All <br /> <br />subsequent appointments shall be for two-year tenns. The member of the Board of Directors <br /> <br />appointed to Position Three is hereby designated to serve as the chair of the Board of Directors for <br /> <br />a one-year tenn beginning on the effective date of this Ordinance. Thereafter the Mayor shall <br /> <br /> <br />annually nominate and appoint, subject to City Council approval, a member to serve as chair for a <br /> <br />tenn of one year beginning on the anniversary of the effective date of this Ordinance. The City <br /> <br />Council authorizes the Board of Directors to elect from its members a vice-chainnan and such other <br /> <br /> <br />officers as the Board of Directors sees fit. <br /> <br />The Board of Directors shall make recommendations to the City Council concerning the <br /> <br /> <br />administration of the Zone. The Board of Directors shall prepare or cause to be prepared and adopt <br /> <br />a project plan and a reinvestment zone financing plan for the Zone as described in Section 311.011, <br /> <br />Texas Tax Code, and shall submit such plans to the City Council for its approval. The City hereby <br /> <br />delegates to the Board of Directors all powers necessary to prepare and implement the project plan <br /> <br />and reinvestment zone financing plan, subject to approval by the City Council, including the power <br /> <br /> <br />to employ any consultants or enter into any reimbursement agreements payable solely from the Tax <br /> <br />C:\MY DOCUMENTS\TIR2.\Pi.OPOSBD 'IIRZ CRBAlION ORC (S-I8-99).DOC <br /> <br />-5- <br />