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HomeMy WebLinkAboutResolution - 2016-R0049 - Lubbock Business Park TIF Bylaws - 02/11/2016Resolution No. 2016-R0049 Item No. 5.6 February 11, 2016 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the attached Amended Bylaws of the Lubbock Business Park Tax Increment Financing Reinvestment Zone are hereby approved by the City Council of the City of Lubbock. Said Amended Bylaws are incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council on February 11, 2016 2016. GLEN e RO RTSON, MAYOR ATTEST: Re cca Garza, City Se e APPROVED AS TO CONTENT: Ni& L�rqj Cheryl Brock, Executive Director of Budget AS TO FORM: ccdocs/RES. Lubbock Business Park—Amended Bylaws January 27, 2016 Resolution No. 2016-R0049 BYLAWS OF LUBBOCK BUSINESS PARK TAX INCREMENT FINANCING REINVESTMENT ZONE #3 CITY OF LUBBOCK, TEXAS ARTICLE I POWERS AND PURPOSE Purpose 1.01. The Lubbock Business Park Tax Increment Financing Reinvestment Zone #3, City of Lubbock, Texas, (the "LBP TIF") was created by Ordinance No. 2009-00113, dated December 2, 2009, pursuant to Tax Increment Financing Act of the Texas Tax Code, Chapter 311 (the "Act'), for the purpose of promoting the development of the Lubbock Business Park area as described in the Ordinance. Powers 1.02. The property and affairs of the Zone shall be managed and controlled by the City Council based on the recommendations of the Board of Directors of the Zone (`Board of Directors" or "Board"), subject to the restrictions imposed by the law, the ordinance creating the Zone, and these Bylaws. It is the intention of the City Council that the Board of Directors shall function only in an advisory or study capacity with respect to the Zone and shall exercise only those powers, advisory in nature, which are either granted to the Board pursuant to the Act or delegated to the Board by the City Council. ARTICLE II BOARD OF DIRECTORS Composition of the Board 2.01. The Board of Directors shall consist of nine (9) directors: five (5) of whom shall be appointed by the City Council of the City of Lubbock; one appointed by the governing body of Lubbock County; one (1) appointed by the Lubbock Independent School District; one (1) appointed by the Lubbock County Hospital District; and one (1) appointed by the High Plains Underground Water Conservation District; provided, however, that if a taxing unit (other than the City) waives its right to appoint a member to the Board, as evidenced by written resolution duly adopted by the governing body of such taxing unit, the City may appoint such Board member in its stead. Qualifications and Tenure of Directors 2.02. Directors shall be selected from individuals who are at least 18 years of age and who either (1) reside in the county in which the zone is located or a county adjacent to that county or (2) own real property in the Zone (whether or not the individual resides in the county in which the zone is located or a county adjacent to that county). The Board of Directors shall serve two (2) year terms. Any director may be removed from office by the City Council for cause deemed by the City Council as sufficient for their removal in the interest of the public, but only after a public hearing before the City Council on charges publicly made, if demanded by such Board member within ten (10) days. Vacancies 2.03. In the event of a vacancy caused by the resignation, death or removal for any reason, of a Director, the governing body of the respective taxing unit (i.e. City, County, School District, Hospital district, or water Conservation District) which made such Board appointment, shall be responsible for filling the vacancy. Meetings 2.04. The Directors shall hold their meetings within a public building in the City of Lubbock as the Board of Directors may from time to time determine. Regular Meetings 2.05. Regular meetings of the Board of Directors shall be held at such times and places as shall be designated from time to time by the Board. All meetings of the Board shall be of a public nature unless pertaining to matters of land purchase, economic development, security, personnel, or strictly legal matters. Notice of all regular and special meetings of the Board and any committees thereof shall be posted in accordance with the provisions of Chapter 551, Texas Government Code. Special Meetings 2.06. Special Board meetings shall be held whenever called by, or at the request of, the chair or by a majority of the directors then in office or upon advice of or request by the City Council. Notice 2.07. Written or printed notice of any regular meeting of the Board will be delivered to each Director not less than three, nor more than thirty days before the date of the meeting. Notice of each Special Board meeting shall be given to each Director in person, or by mail, courier, facsimile, telephone or e-mail, at least twenty-four (24) hours before the meeting. PA The notice will state the place, day, and time of the meeting and the purpose or purposes for which it is called. Quorum 2.08. A majority of the number of Directors then in office constitute(s) a quorum for transacting business at any Board meeting. The act of a majority of the Directors present at a meeting at which a quorum is in attendance shall constitute the act of the Board of Directors, unless the act of a greater number is required by law. Conduct of Business 2.09. At meetings of the Board of Directors, matters pertaining to the Zone shall be considered in such order as from time to time the Board of Directors may determine. At all meetings of the Board of Directors, the chair shall preside and in the absence of the chair, the vice chair shall exercise the power of the chair. City staff shall provide notice of meetings, prepare meeting agendas, and record minutes for each meeting. Within five (5) days following each Regular or Special Meeting, a copy of the minutes shall be available for review, and the minutes of the meeting shall be distributed to Board Members prior to the next scheduled meeting. Attendance 2.10. Board Members shall make every effort to attend all Regular and Special Meetings of the Board and/or Committees. The City Council may replace a City appointee of the Board or request replacement of an appointee from other taxing jurisdictions for unexcused non-attendance at three consecutive meetings. Compensation of Directors 2.11. Directors may not receive salaries for their services. Directors may be reimbursed for any actual reasonable expenses incurred in the performance of their duties hereunder. ARTICLE III OFFICERS Officer Positions 3.01. The officers of the Zone shall consist of a chair, a vice -chair, and such other officers as the Board of Directors may from time to time elect or appoint. All officers, other than the chair, shall be subject to removal from office, with or without cause, at any time by a vote of a majority of the entire Board of Directors. All officers, except the chair, shall be elected at the first meeting of the calendar year. A vacancy in the office of any officer, other than the chair, shall be filled by a vote of a majority of the Directors. Powers and Duties of the Chair 3.02. The chair shall be appointed by the City Council as required by law, and shall act as the chief executive officer of the Board of Directors. The chair shall preside at all meetings of the Board of Directors. Vice Chair 3.03. The vice chair shall be a member of the Board of Directors, shall have such powers and duties as may be assigned to him by the Board of Directors and shall exercise the powers of the chair during that officer's absence or inability to act. Compensation 3.04. Officers shall not receive any salary or compensation for their services, except that they shall be reimbursed for their actual reasonable expenses incurred in the performance of their duties. Staff 3.05. Staff functions for the Board of Directors may be performed by the City Manager or City Manager designees. ARTICLE IV BOOKS AND RECORDS Minutes 4.01. City Staff shall keep the minutes of all meetings of the Board of Directors in books provided for that purpose and shall have charge of such books, records, documents and instruments as the Board of Directors may direct, all of which shall at all reasonable times be open to inspection by the City Council or the Board of Directors. Financial Records 4.02. The Board of Directors, using City staff, shall keep correct and complete books and records of account for the Zone. These financial records may be inspected by any Director or his agent or attorney for any proper purpose at any reasonable time; and at any time, the City Council and the Director of Finance of the City shall have access to the books and records of the Zone. The Project and Finance Plans for the Zone, including all amendments shall be reviewed and recommended by the Board of Directors and approved by the City Council. All programs and expenditures of the Zone must be approved by the City Council. ARTICLE V PROVISIONS REGARDING BYLAWS Effective Date 5.01. These Bylaws shall become effective only upon the occurrence of the following events: (1) The adoption of these Bylaws by the Board of Directors, and (2) The approval of these Bylaws by the City Council. Amendments to Bylaws 5.02. These Bylaws may be amended only upon the occurrence of the following events: (1) The Amendment of these Bylaws by majority vote of the Board of Directors, and (2) The approval of the Amendment to these Bylaws by the City Council. Interpretation of Bylaws 5.03. These Bylaws and all terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein. If any word, phrase, clause, sentence, paragraph, section of other part of these Bylaws, shall ever be held to be invalid or unconstitutional by any court of competent jurisdiction, the remainder of these Bylaws and the application of such word, phrase, clause, sentence, paragraph, section or other part of these Bylaws shall not be affected thereby. ARTICLE VI GENERAL PROVISIONS Notice and Waiver of Notice 6.01. Any notice required or permitted by these Bylaws to be given to a Director may be given by mail or e-mail. If mailed, a notice is deemed delivered when deposited in the mail addressed to the person at his or her address as it appears on the Zone records, with postage prepaid. If given by e-mail, a notice is deemed delivered when transferred and addressed to the person at his or her e-mail address as it appears on the Zone records. A person may change his or her address in the Zone records by giving written notice of the change to City staff responsible for providing notice. Attendance of a Director at a meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purposes of object to the transaction of any business on the grounds that the meeting is not lawfully called or convened. A waiver of notice in writing signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. Approval or Delegation of Power by the City Council 6.02. To the extent that these Bylaws refer to any approval by the City, such approval of delegation shall be evidenced by a certified copy of an ordinance, or resolution duly adopted by the City Council. APPROVED: Lubbock Business Park Tax Increment Financing Reinvestment Zone #3, City of Lubbock Chair, Board of Directors 0 Date: 1ftJ/4 I:`29tZ1]1 11U CITY OF LUBBOCK GLEN E , SON, MAYOR ATTEST: Cit Secretary, Re eccaarz 1. MOM M-1 lwwl.