(A) The applicant's bond counsel shall prepare a draft of the inducement ordinance and agreement, to be submitted to the City Manager or his designee five (5) working days prior to the meeting of the Commission at which the ordinance is to be considered for first reading.
(B) After receipt of the ordinance and agreement, the city will notify the Chamber of Commerce of Boyd and Greenup Counties prior to the meeting at which the Commission is to consider first reading to the inducement contract and memorandum of agreement.
(C) All required documents described herein are to be submitted with an original and fourteen (14) copies to the City Manager or his designee.
(D) The City Manager will place the inducement ordinance and agreement on the next
appropriate agenda of a regular meeting of the Commission.
(E) First reading, consideration and possible passage would occur through normal procedures of the Commission.
(F) Once the inducement ordinance is given final approval, it is anticipated the applicant will begin acquisition, construction, equipment purchase, or make any other expenditures contemplated by the project.
(Ord. 161-1997, passed 11-20-97)