ORDINANCE NO. 22
AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ESTABLISHMENT, ORGANIZATION AND OPERATION OF A PUBLIC CORPORATION TO IMPLEMENT CHAPTER 27, TITLE 50, IDAHO CODE; APPROVING AUTHORITY AND LIMITATIONS OF THE PUBLIC CORPORATION; PROVIDING FOR CONTROL AND SUPERVISION OF THE PUBLIC CORPORATION BY THE COUNTY; PROVIDING OTHER MATTERS PROPERLY RELATING THERETO; AND PROVIDING EFFECTIVE DATE.
WHEREAS, the Legislature of the State of Idaho has provided for the creation of public corporations by counties of the State of Idaho, pursuant to Chapter 27, Title 50, Idaho Code, for the purpose of facilitating economic development and employment opportunities in the Sated of Idaho through financing by such public corporations of the project costs of industrial development facilities, all as authorized by Article 8, Section 5, Idaho Constitution; and
WHEREAS, the County of Idaho desires to avail itself of the authority contained in Chapter 27, Title 50, Idaho Code, by creating a public corporation for the purposes stated therein;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE COUNTY OF IDAHO, IDAHO:
Section 1: The County of Idaho (the “County”) does hereby created a public corporation, as authorized by Section 50-2703, Idaho Code, to carry out the purposes of the Municipal Industrial Development Program Act, the same being Chapter 27, Title 50, Idaho Code (the “Act”). The County reserves the power, as provide in Section 50-2703, Idaho Code, to alter or change the structure, organization and programs or activities of the public corporation, or to dissolve the same, if it has no property to administer other than lands and property if any, to be paid or transferred to the County and all its outstanding obligations have been paid.
Section 2: The name of the public corporation shall be The Industrial Development Corporation of Idaho County, Idaho (the “Corporation”).
Section 3: The Corporation shall have all of the powers and shall be subject to all of the requirements and limitations contained in the Act and as set forth in this ordinance.
Section 4: A charter is hereby issued to the Corporation by the County, which shall grant to the Corporation all power authorized by the Act. A copy of the charter granted hereby is annexed by ordinance as Exhibit “A” and is by reference incorporated herein. The charter may be amended from time to time by ordinance duly adopted by the County.
Section 5: The Board of Directors of the Corporation (the “Board”) shall consist of seven (7) residents of the County appointed by the Board of Commissioners. Three (3) shall be appointed by the Board of Commissioners from the County at large and may include one or more members of the Board of County Commissioners. One member shall be a resident of the City of Grangeville, one a resident of the City of Cottonwood, one a resident of the City of Riggins, and one a resident of the City of Kooskia. Of the members first appointed, one year, and three fro terms of three years. Thereafter, each member shall be appointed fro a tree-year term. If a vacancy occurs during an unexpired term, the Board of Commissioners shall appoint a member to serve until his or her successor is appointed and qualified. A majority of the members of a majority of a quorum shall be necessary for the Board to take any action.
Section 6: The business and affairs of the Corporation shall be conducted and carried out by the Board. The Board shall elect officers from among its own members, which officers shall serve until their successors have been duly elected. Officers shall include a president, a vice-president, and a secretary-treasurer. An officer may hold more than one office. The Board shall adopt bylaws, rules and regulations governing the conduct of the Corporation, which may be amended from time to time by the Board.
Members of the Board shall serve without compensation, but may be reimbursed for actual and necessary expenses as provided by the bylaws, rules and regulations of the Board.
Section 7: No director, officer, agent, or employee of the Corporation shall have, directly or indirectly, any financial interest in any property to be included in, or any contract for property, services, or materials to be furnished or used in connection with, any industrial development facility financed through the Corporation.
Section 8: The Corporation shall have all the powers granted by the Act, including, without limitation, all powers set forth in the charter. The Corporation shall be subject to all of the requirements and limitations set forth in the Act, in this ordinance, and in the charter.
Section 9: The Corporation may not operate any industrial development facilities as a business other than as lesser, seller, or lender, but may purchase and hold mortgages, deeds of trust, or other security interests and contract for any servicing thereof.
Section 10: The County shall not give or lend any money in aid of the Corporation except as expressly authorized by the Act, nor exercise its powers of sovereignty, including the police power, the power of taxation, or the power of eminent domain, for or on behalf of the Corporation, This provision shall not preclude the County from contracting with the Corporation for the provision of services to the Corporation or otherwise dealing with the Corporation on an arms-length basis. The County may, as authorized by Section 20-2706, Idaho Code, accept grants from the United States and apply grants in connection with industrial development facilities.
Section 11: The Corporation shall not issue revenue bonds or other financing obligations except upon the approval of the Board of Commissioners of the County. The Corporation may not exercise any powers or issue any revenue bonds or other obligations with respect to any industrial development facility unless such facility is located wholly within the boundaries of the County, except as expressly set forth in the Act.
Section 12: Any net earnings of the Corporation beyond those necessary for retirement of indebtedness incurred by it shall inure to the County and not for the benefit of any other person, Upon dissolution of the Corporation, as provided by the Act, title to all property owned by the corporation shall vest in the County.
Section 13: This ordinance shall be liberally construed to effect its purposes.
Section 14: This ordinance shall take effect and be in full force from and after its passage, approval, and publication.
DATED this 11 day of July, 1983.
COUNTY OF IDAHO
By Douglas Higgins Chairman, Board of Commissioners
ATTEST:
Alberta G Johnson
Deputy County Clerk
