The Centralia city light department shall establish a local board to govern the electric utility rural economic development revolving fund.
(Ord. 2035 § 2 (part), 1999; Ord. 2228 § 2 (part), 2009)
A.
Membership shall consist of five members. The board shall consist of three members representing local businesses and community groups appointed by the director of city light, the director of city light or his/her designee, and one member of the city council. The board shall oversee and direct the activities of the electric utility rural economic development revolving fund. The director of city light or his/her designee shall serve as chair of the board.
B.
Members shall reside in or work at a local business within the qualifying rural area served by Centralia city light.
C.
Members shall serve for a twelve-month appointment.
D.
Members may be removed from the board for negligent performance of duties, conflict of interest, malfeasance in office, or other just cause, or for unexcused absence for more than three consecutive regular meetings. The decision of the director of city light shall be final and there shall be no appeal therefrom.
E.
The director of city light or his/her designee shall set the time, place and frequency of meetings.
(Ord. 2035 § 2 (part), 1999; Ord. 2228 § 2 (part), 2009; Ord. 2233 § 1, 2009)
A.
The board shall have the authority to determine all criteria and conditions for the expenditure of funds from the electric utility rural economic development fund, and for the terms and conditions of repayment to the fund.
B.
Any funds repaid to the electric utility rural economic development fund by recipients shall be made available for additional qualifying projects.
C.
If at any time the electric utility rural economic development fund is dissolved, any moneys claimed as tax credit shall either be granted to a qualifying project or refunded to the state within two years of termination of the fund.
(Ord. 2035 § 2 (part), 1999; Ord. 2228 § 2 (part), 2009)