City of Farmington, MO
St. Francois County
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Table of Contents
Table of Contents
[Ord. No. 1-391 §1, 7-17-2000]
The City Council has found that the increase of the Board of Directors from nine (9) to eleven (11) directors is wise, expedient, necessary, advisable and in the best interest of the City and does hereby authorize the amendment of the Articles of Incorporation of the Industrial Development Authority of Farmington, Missouri, to enlarge the number of board members from nine (9) board members to eleven (11) board members.
[1]
Editor's Note: Former Section 117.020, Executive Committee — I.D.A. to Appoint Committee, was repealed 6-8-2017 by Ord. No. 1-620.
[Ord. No. 1-156 §1, 4-18-1983]
A. 
The Mayor of the City of Farmington, Missouri, be and hereby is appointed as the "applicable elected representative" of the City for the purpose of approval of industrial development bonds of the Industrial Development Authority of the City of Farmington, Missouri (the "Authority") pursuant to Section 103(k) of the Code.
B. 
The Mayor shall, by proclamation, approve or disapprove of industrial development bonds of the Authority for a project following:
1. 
Public hearing before the City Council or before the Authority with respect to said project; and
2. 
Recommendation of approval of said project by the Authority.
C. 
If the Mayor shall not have acted on any project recommendation by the Authority within fifteen (15) days thereafter, the City Council shall approve said project by resolution at its next meeting, but if the project be disapproved, then a record of the disapproval shall be entered in the minutes of the City Council meetings.