[CC 1999 §10-1; Ord. No. 80-41, 12-29-1980]
A. There
shall be organized the Industrial Development Authority of the City
of Chillicothe, Missouri, in the manner prescribed by the Industrial
Development Authority Act.
B. The articles
of incorporation proposed to be used in organizing the Industrial
Development Authority of the City of Chillicothe, Missouri, as a corporation
are hereby approved as to form, said articles of incorporation being
on file in the City offices and incorporated herein by reference.
Nothing herein contained or contained in said articles of incorporation
shall impair or affect the power or jurisdiction of the City of Chillicothe,
Missouri, or its City Council and the Industrial Development Authority
of the City of Chillicothe shall conform to applicable regulations,
now or hereafter in effect, as promulgated by the City Council of
the City of Chillicothe, Missouri, or any other governmental authority
having jurisdiction therein.
[Ord. No. 2002-145 §§1
— 3, 10-14-2002]
A. A City
Economic Development Loan Committee is hereby established and shall
consist of the Mayor, City Clerk, City Auditor, City Administrator
and City Attorney. The Mayor shall preside at all meetings of the
Committee. The Mayor shall have a vote upon matters coming before
the Committee only in the event a tie vote occurs among the Committee
members.
B. The City
Economic Development Loan Committee, upon proper application by a
qualified borrower, is authorized to approve by majority vote low
interest loans from and to the extent of money appropriated for or
under the control of the City for economic development.
C. On file
in the City offices and incorporated herein by reference are the qualifications
and application guidelines for low interest loans for money appropriated
for or under the control of the City for economic development and
the same are hereby approved and adopted as guidelines as set forth
in the City of Chillicothe, Missouri, Low Interest (LIL) (October
14, 2002).