CITY OF PRINCETON ORDINANCE NUMBER 296
ORDINANCE AMENDING THE PRINCETON CITY CODE WITH RESPECT TO ECONOMIC DEVELOPMENT
BE IT ORDAINED by the City Council of the City of Princeton, Iowa
The Princeton City Code is hereby amended by adding Chapter 24 in its entirety as follows:
ECONOMIC DEVELOPMENT BOARD
24.01 Board Established
24.02 Board Organization
24.03 Term of Office & Vacancies
24.06 Duties & Responsibilities
24.01 ECONOMIC DEVELOPMENT BOARD ESTABLISHED. An Economic Development Board is hereby created and established.
24.02 BOARD ORGANIZATION. The Board shall consist of five members and one Council Member, who are citizens of the City. The members are appointed by the Mayor, subject to the approval of the Council.
24.03 TERM OF OFFICE AND VACANCIES. Appointments to the Economic Development Board shall be for a term of three years. One of the members will be a member of the Planning and Zoning Commission. Each term shall commence on the day of appointment to the Board. The terms of the members shall be staggered so that appointments are made every year. Vacancies in the Board shall be filled by appointment by the Mayor, with the approval of the Council, and the new members shall fill out any unexpired term for which the appointment is made.
24.04 COMPENSATION. All members of the Economic Development Board shall serve without compensation, except for their actual expenses, which shall be subject to the approval of the City Council.
24.05 OPERATION. The Economic Development Board shall have the authority to choose its own officers, to adopt its own rules and regulations governing its operation, and to keep a record of its proceedings. Quorum for a meeting of the Board shall be a majority of its members.
24.06 DUTIES AND RESPONSIBILITIES. The following are the duties and responsibilities of the Board.
1. Grants. Research and potentially write grants on the City’s behalf upon Council approval.
2. Limitation on Entering Contracts. The Board shall have no power to contract debts beyond the amount of its original or amended appropriation as approved by the Council for the present year.
3. Records. The Board shall keep minutes of each meeting with a full statement of the progress of its work.