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<br />AMENDMENT TO <br />CITY OF SAN MARCOS <br />INDUSTRIAL DEVELOPMENT CORPORATION <br />BYLAWS <br /> <br />Under Article IV, Section 2 of the current Bylaws for the City of San Marcos Industrial <br />Development Corporation, the Board of Directors has determined that Article II, Section <br />1 of the Bylaws should be amended in the following manner (underlining indicates added <br />text; overstrike indicates deleted text): <br /> <br />Section 1. Powers. Number and Term of Office. The property and affairs of the <br />Corporation shall be managed and controlled by the Board of Directors and, subject to the <br />restrictions imposed by law, the Articles of Incorporation and these Bylaws, the Board of <br />Directors shall exercise all of the powers of the Corporation. <br /> <br />The Board of Directors shalf consist of seven (7) directors, each of whom shall be <br />appointed by the Governing Body. <br /> <br />The directors constituting the first Goard of Directors shall be those directors <br />named in the Articles of Incorporation, each of whom shall serve for six (6) years or until <br />their his or her successors are 18 appointed and take office as hereinafter provided. <br />Terms of office shall be staagered. so that a portion of the board's membership is <br />appointed each odd-numbered year in a six-year cycle. Board members appointed in <br />1999 shall determine their terms of office by drawino lots. with two having two-year terms. <br />two having four-year terms and the remaining three havino six-year terms. Subsequent <br />directors shall hold office for a term of six (6) years or until their successors are appointed <br />as hereinafter provided. <br /> <br />will. <br /> <br />Any director may be removed from office, by the Governing Body, for cause or at <br /> <br />The person holding, from time to time, the position as Executive Vice President of <br />the Chamber of Commerce and Mayor and City Manager of the Unit shall be ex officio <br />members of the Board of Directors of the Corporation. The ex officio members Will be <br />allowed to participate in the affairs of the Corporation, in an advisory capacity, will be <br />entitled to a notice of all special meetings, but will not be allowed to vote. <br />