[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.
[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.