Resolution No. 90-16, passed on July 19, 1990, is incorporated herein by reference. The resolution approved the articles of incorporation and bylaws of the Municipal Property Corporation ("MPC") and appointed the incorporators and initial board of directors. There are 5 directors. Each term shall be 3 years and shall have an expiration date of October 31 of succeeding years, except that in the event of the Board membership complement falling below the required quorum level of 3 members, the membership vacancies shall be filled by the Council for their unexpired terms any time before the annual October appointment cycle from the then-existing talent bank applications.
(Ord. 1328, passed 10-27-2008; Am. Ord. 1520, passed 12-7-2021)