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14 - DISCUSS AND ACT ON THE BYLAWS OF PEDC WITH REGARD TO COUNCIL APPROVAL OF EXPENDITURES
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14 - DISCUSS AND ACT ON THE BYLAWS OF PEDC WITH REGARD TO COUNCIL APPROVAL OF EXPENDITURES
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The current PEDC bylaws are in direct conflict with the provision of the local government code that <br />specifies that "The corporation's authorizing unit will approve all programs and expenditures of a <br />corporation." Currently, the PEDC bylaws permit the expenditure of up to $400,000 on any one project, <br />without having to obtain prior approval from the city council. Any previous authority granted to the <br />PEDC must be brought into compliance with state law. <br />(Chapter 501, Local Government Code, section 501.073) <br />
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