09 - Amendment to PEDC Bylaws - Laserfiche WebLink

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Section 5.02 Regular„Meetings The Board shall meet once each month at the Oty C[",, aril 1, 1;0,7 1.. ��a, u fiii fj 5 1, re e, a r is PaFisunless otherwise determined by the Board Chairman. The Chairman shall set regular meeting dates and times at the beginning of his term of office. RATIONALE: PEDC Board meetings are currently held at the Paris City Council Chambers and will be for the foreseeable future. Section 5.08 Attendance Regular attendance of the Board meetings is required of all Directors. 74;i:ee) ee�� )ersost�:Nn, absences, after 'I'Al �[lje a4ei44anee may be considered as grounds for removal from the Board 4-1I 1 RATIONALE: The removal of "three consecutive absences” requirement allows the Board greater discretion when considering the dismissal of a Board member, This revision also establishes a removal process. Section 8.03 Budge A budget for the forthcoming fiscal year shall be submitted to and approved by the Board in AjReJr,,.dy and delivered to the City on or before A,))g,,�st 1, RATIONALE: The City generally compiles departmental budgets in August and approves the City Budget in September. Moving the date from July 1 to August 1 gives PEDC staff more time to prepare the budget while meeting the City's timeline. UNJ The Permanent Reserve Fund shall be accumulated for the purpose of using the interestn(� d ef Ion such fund to finance the operation of the Corporation. RATIONALE: This is a minor revision that does not change the meaning of the language. STATUS OF ISSUE: As changes to the bylaws of Boards and Commissions require final approval by City Council, these proposed changes must be approved before going into effect. RECOMMENDATION: Pursuant to Section 10.04, Amendment to Bylaws, the PEDC Board of Directors requests that City Council approve the Amended Bylaws approved by the Board at its April 19 meeting.