File #: 12-059    Name: MCDC Bylaws
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 3/6/2012 Final action: 3/6/2012
Title: Consider/Discuss/Act on a Resolution Approving the Fifth Amended Bylaws of the McKinney Community Development Corporation
Attachments: 1. Resolution, 2. Fifth Amended MCDC ByLaws Redline
Title
Consider/Discuss/Act on a Resolution Approving the Fifth Amended Bylaws of the McKinney Community Development Corporation
 
Summary
MEETING DATE:      March 6, 2012
 
DEPARTMENT:       City Manager
 
CONTACT:              Jason Gray
 
 
RECOMMENDED CITY COUNCIL ACTION:  Approve Resolution
 
ITEM SUMMARY:
·      Resolution proposes the following change as the Fifth Amended Bylaws of the MCDC:
·      Adds the following language to Article VI. Section 6:
Any budget amendment, including but not limited to the amendment of the amount or percentage of identified discretionary funds under Article VI, Sec. 5(e) below, shall also require the approval of the City Council.
·      Clarifies language that funds cannot be spent for any non-discretionary project without Council approval.
Section 5:
(e) For any specific project costing One Hundred Thousand and No/100 Dollars ($100,000.00) or less, the Board has sole approval authority and may begin making expenditures sixty (60) days subsequent to the date that the public hearing notice is published as required by Sec. 5 (d), unless the Project is protested as provided in the Act. For any specific Project utilizing discretionary funds, as such funds are identified in the corporation's City Council-approved annual budget, the Board has sole approval authority and may begin making expenditures sixty (60) days subsequent to the date that the public hearing notice is published as required by Sec. 5(d), unless the Project is protested as provided in the Act. Any non-discretionary Project's approval shall require the affirmative vote of four (4) City Council members. The Board shall not expend any funds for a non-discretionary Project that fails to receive the required approval from the City Council. For any Project costing One Hundred Thousand and 01/100 Dollars ($100,000.01) or more, the City Council shall also conduct a public hearing and approve the Project by majority vote. The Board shall not expend any funds for a Project that fails to receive required approval from the City Council.
·      The Bylaws are also being amended to contain references to current statutes and reflect the City Council's deletion of ex-officio members
 
 
BACKGROUND INFORMATION:  
·      Council adopted the Fourth Amended Bylaws on March 18, 2003.
 
SPECIAL CONSIDERATIONS:  None
 
FINANCIAL SUMMARY:  N/A
 
BOARD OR COMMISSION RECOMMENDATION:
·      The MCDC Board of Directors met on February 23, 2012 and approve the Amended By-Laws.