Title
Consider/Discuss/Act on a Resolution Approving the Sixth Amended and Restated Bylaws of McKinney Economic Development Corporation
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: September 6, 2016
DEPARTMENT: McKinney Economic Development Corporation
CONTACT: Darrell Auterson, President
Abby Liu, Executive Vice President
RECOMMENDED CITY COUNCIL ACTION: Approve Resolution
ITEM SUMMARY:
• The attached Sixth Amended and Restated Bylaws incorporates the following change:
o “Directors seated as of the Effective Date who have not attended a training course provided under Texas Local Government Code Section 502.102 and all newly-appointed board members shall attend a training course provided under said Section within one (1) year after the Effective Date or one (1) year after their appointment date, as the case dictates. The Board may grant a Director an extension under this subsection for good cause shown. “
• Texas Local Government Code: Sec. 502.101. TRAINING REGARDING OPERATION OF CORPORATION.
(a) At least once in each 24-month period, the following persons associated with a corporation shall attend a training seminar regarding the operation of a corporation created under this subtitle:
(1) the municipal attorney, administrator, or clerk of the municipality that authorized the creation of the corporation; and
(2) the corporation's executive director or other person responsible for the corporation's daily administration.
(b) The training seminar must provide at least six hours of instruction on topics relating to the legal and proper operation of a corporation created under this subtitle.
(c) The training seminar must be held at least four times each calendar year in a different geographical region of this state.
(d) A corporation may spend corporate revenue to pay for required attendance at the training seminar.
• Texas Local Government Code Sec. 502.102. PROVISION OF TRAINING SEMINAR.
(a) A training seminar under Section 502.101 must be provided by a statewide organization representing corporations created under this subtitle, except that if the economic development office determines that no statewide organization is able to provide a seminar as required by Section 502.101, the office, in conjunction with the attorney general and the comptroller, shall by rule develop the seminar. The office may enter into an agreement for provision of a seminar developed under those rules with a person the office determines is qualified to provide the seminar.
(b) A person providing a training seminar may:
(1) charge a reasonable fee for attending the seminar; and
(2) compensate an individual who provides instruction at the seminar.
BACKGROUND INFORMATION:
• The City Council approved the Fifth Amended Bylaws on September 15, 2015.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION:
• The MEDC Board unanimously approved the Sixth Amended and Restated Bylaws at their meeting on July 19, 2016.