[Ord. No. 2009-45 §§ 1 — 5, 11-24-2009]
A. The City of Lexington hereby appoints seven (7) members to the Lexington
Enhanced Enterprise Zone Board of Directors.
B. The Board of Directors will meet as needed, however, not less than
once per year, to review all completed Enhanced Enterprise Zone applications
for approvals.
C. Each member of the Board will serve without compensation and, upon
establishment, elect a Chairperson.
D. Initial appointment of the Board members shall be made on a staggered
term basis with one (1) member serving a two (2) year term, two (2)
members serving a three (3) year term and two (2) members serving
a four (4) year term. The school district and effected taxing jurisdiction
members will serve a term of five (5) years. Thereafter, members appointed
shall serve five (5) years, except all vacancies shall be filled for
unexpired terms in the same manner as with the original appointment.
E. The Board's responsibilities include advising the City Council on
the designation of the Enhanced Enterprise Zone and any other advisory
duties as determined by the City Council; review and assess applications
within the Enhanced Enterprise Zone; and submit an annual report to
the Missouri Department of Economic Development regarding the status
of the zone and business activity therein.