There is hereby created a committee known as the city economic development committee, hereinafter referred to as “the committee,” the purpose of which shall be as follows:
(1) 
To seek ways to improve the physical image and community attitude of the city;
(2) 
To identify those areas in the city available for industrial and commercial development;
(3) 
To locate those businesses and industries whose growth needs could be served by expanding to those areas; and
(4) 
To develop and enhance the economic climate of the city through the attraction of new business and industry and encourage the retention of commercial, industrial and manufacturing enterprises within the city.
(1999 Code, sec. 8.401)
The committee will meet regularly, at least monthly, to explore its purposes and methods of achieving them and make recommendations to the city council for actions designed to implement its purposes. It shall advise the city council and keep the city council informed of any matter which could have a positive or negative impact on the goal to attract new business and industry to the city.
(1999 Code, sec. 8.402)
(a) 
The committee shall be composed of four (4) members and a chairman. The chairman shall preside over all meetings and present all reports from the committee. The chairman shall be the official representative of the committee.
(b) 
The committee members and chairman shall be chosen from among those living within the corporate limits of the city or who are employed by or who may own businesses located within the corporate limits of the city who shall have demonstrated their leadership abilities, success in the business community and an understanding of the problems of industry. Any committeeman, including the chairman, who ceases to live or be employed or no longer maintains a business within the corporate limits of the city shall be deemed to have resigned from the committee.
(c) 
The four (4) committee members shall each serve four (4) year terms. Initially, two (2) committee members shall be appointed to serve four (4) years. Two (2) committee members shall be appointed to serve two (2) year terms. Thereafter, the members’ appointments shall be staggered.
(d) 
The chairman shall be appointed to serve a two (2) year term to coincide with the election of the new mayor. The chairman shall be appointed in each year of a regular mayoral election no later than the third regular council meeting following the election.
(e) 
Neither the chairman nor any committee member shall be an employee or elected official of the city.
(f) 
Whenever a vacancy occurs among the committee members or the chairman, the mayor shall, with approval of the city council, appoint a qualified person to complete the unexpired term.
(g) 
The committee members shall serve without compensation.
(h) 
The mayor of the city shall serve as an ex-officio member of the committee but shall not have the power to vote. The mayor shall keep the city council informed of the activities of the committee.
(1999 Code, sec. 8.403)
(a) 
As soon as practical after all appointments are made, the chairman shall call a meeting of the committee, at which time the committee shall adopt rules and regulations for the conduct of its meetings, which shall include the following:
(1) 
No action shall be approved with less than a majority vote.
(2) 
Three (3) of the four (4) members shall constitute a quorum.
(3) 
The chairman shall not vote except in case of a tie.
(4) 
A vice-chairman may be selected to preside over meetings when the chairman is absent. No person shall be selected to serve as vice-chairman to serve as official representative of the committee except for a limited purpose to extend no more than fourteen (14) calendar days. In such case the committee shall define the purpose for which a vice-chairman has been selected to act.
(5) 
The committee shall be divided into four (4) panels. Each panel shall have as its purpose one of the purposes set out in section 1.10.031 hereinabove. In each odd-numbered year, immediately after the appointment of the chairman, the committee shall appoint one (1) of the four (4) committee members to serve as director of one of the panels, whose members shall be named by the appointee. The director of the panel shall report regularly to the committee on panel activities.
(6) 
The committee shall provide for removal of members who are absent from three (3) consecutive meetings of the committee or who fail to attend at least fifty percent (50%) of the meetings during any twelve (12) month period.
(b) 
The rules so adopted shall be approved by the city council and shall not become effective until so approved.
(c) 
The rules so adopted may be amended from time to time, with approval of the city council. The approved rules and any amendments shall be filed with the city secretary and such rules so filed shall be deemed the official rules.
(1999 Code, sec. 8.404)
(a) 
Each year the committee shall submit to the city administrator an estimate of expenditures expected during the next fiscal year and a request for approval of such funds as part of the regular city budget.
(b) 
Expenditures by individual committee members and the chairman shall be in accordance with the estimate submitted to the city administrator and in accordance with plans approved by the committee. In the event of the need of an expenditure beyond the plan of the committee but within the estimate, the chairman of the committee must obtain approval of the mayor. The committee shall keep records of all income and expenditures and shall account for all funds expended in the interest of the purposes of the committee. Each year the records of the committee shall be audited as part of the regular annual city audit.
(c) 
The committee is urged to adopt as one of its goals the involvement of the community in assisting in the funding of special projects and programs and in the implementation of those projects and programs.
(1999 Code, sec. 8.405)