Texas Economic Development Corporation Bylaws - PowerPoint

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					Review of Organizational Documents for
 McKinney Airport Development Corporation
              Presented to:
               City Council
         City of McKinney Texas
             October 1, 2007
          BYLAWS

McKinney Airport Development
         Corporation
       will be formed pursuant to
               Chapter 431
                  of the
       Texas Transportation Code
                                       POWERS

                   POWERS
   The Corporation shall have all of the powers
    which are available to non-profit corporations
    in Texas
   The Corporation shall NOT issue any debt
    obligation WITHOUT the consent of the City
    Council.
      BOARD OF DIRECTORS
Seven (7) Member      One Council Member
  Board                acts as a liaison to
                       Board


Staggered Terms       3 serve 2 year terms
                      4 serve 3 year terms
              MEETINGS
Board meetings must be held in accordance
        with Open Meetings Act

Board documents shall be subject to the
        Public Information Act
                   QUORUM
   A majority of the entire Board shall constitute a
    quorum for consideration of matters pertaining
    to the Corporation.

   The act of a majority of a quorum of Directors
    present and voting at a meeting is required for
    Board action.
    BOARD MEMBER COMPENSATION

   Directors of the Corporation shall NOT
    receive any salary or compensation
             AIRPORT MANAGER
   The Board is authorized to hire an Airport
    Manager

   Board shall establish:
        Compensation

        Duties

        Responsibilities
    OFFICERS OF CORPORATION
                             The President shall be an
   Titles and Terms of       ex-officio member of ALL
    Office                    committees.
       President
                             Term for each office shall
       Vice President        start on date of election and
       Secretary             end when officer is replaced
                              by Board or is no longer on
       Treasurer             the Board.
   SUBCOMMITTEE ON AIRPORT
         COMPLIANCE
   The Board shall maintain a standing subcommittee of
   three (3) members on AIRPORT COMPLIANCE which:

Subcommittee shall hear     Between Airport and:
  issues on:                 Adjacent Users
 Compliance
                             Landowners
 Community Relations        Residents
 Business Relations         Non-Residents
   .
FINANCIAL RESPONSIBILITIES
   Funds from the City shall be used solely for the
    purposes of the Corporation as authorized and
    directed in the annual budget approved by the
    City Council.
   Council shall fund Corporation’s budget with
    general fund revenues sufficient to pay for the
    fiscal year’s:
       Maintenance
       Operations
       Project Obligations
             CAPITAL PROJECTS
   Board shall oversee management of
    capital projects, including but not limited
    to:
        Planning
        Contracting

        Negotiating

        Engaging Consultants
The Board shall conduct all business in
         accordance with the
      AIRPORT MASTER PLAN.
                  AGREEMENTS
   Board approved agreements shall be
    executed by the City Manager on behalf of
    the City wherein:
       City is the required “party” to the contract,
       The agreement is contemplated in a budgeted
        Board project; and
       The agreement does not require Council
        approval.
                   LEASES

   Approval of leases of airport property
    require two-thirds (2/3) majority vote or
    greater of a quorum of the Board.
        ADMINISTRATIVE SERVICES
   The Board shall contract with the City for
    administrative services
       Payroll
       Insurance
       Corporation payables
ISSUANCE OF SHORT TERM AND
      LONG TERM DEBT
         Subject to the
EXPRESS CONSENT OF CITY COUNCIL
        prior to issuance
           FAA RULES

FAA Grant Assurances and rules shall
 supersede and control over all Board
               actions
    ANNUAL BUDGET

The annual Budget shall include a
       STRATEGIC PLAN
         describing the:
short and long-term goals and
objectives of the Corporation.
           BUDGETED FUNDS

       Reappropriation of Budgeted Funds:
Any budgeted funds for capital projects remaining
   at end of the fiscal year shall automatically be
  reappropriated for one (1) additional fiscal year
       to allow the Corporation to initiate the
                   capital project.
            INDEMNIFICATION
   Directors and Officers have the RIGHT TO
    INDEMNIFICATION.
   Employees and Agents may be
    indemnified by a resolution of the Board.
               AIRPORT MANAGER
   The Airport Manager shall be:
       Principal Executive Officer of the Corporation;
       Subject to control of Board;
       In charge of the properties and affairs of the
        Corporation;
       An at-will employee of the Board;
       Responsible to implement all orders and resolutions of
        the Board; and
       Responsible for hiring and firing of employees of the
        Corporation.
                                 ETHICS
   Code of Ethics adopted
   Encourage high ethical standards in official conduct by
    Directors and Corporate Officers;
   Establish guidelines for ethical standards of conduct.
   All Directors, Officers and Employees shall abide by state
    civil and criminal laws regarding:
           conflict of interest
           official misconduct
           other regulations and restrictions involving their official duties.
    MISCELLANEOUS PROVISIONS
   The Corporation shall have the power to request and
    accept any:
      appropriations,
      grant,
      contribution,
      donation, or
      other form of aid
   From any source including the:
      McKinney Economic Development Corporation
       (MEDC),
      McKinney Community Development Corporation
       (MCDC)

				
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