(A) The North Coast Foreign-Trade Zone Board of Governors shall have fiduciary responsibility limited to the provision of an annual contribution and may advise the City Council on the allocation of funds. Expenses incurred by the board, or members thereof, in the authorized (majority vote) performance of duties specified under the purpose of this organization and approved by the grantee will be reimbursed by the city.
(B) The board shall have the power to receive bequests, donations, grants and gifts of all kinds of property, in fee simple, and to do all acts necessary to carry out the purposes of such in accordance with the terms of the bequests, donations, grants or gifts, or absolutely in case no conditions were attached.
(C) The board shall not be empowered to levy taxes, or authorized to exercise any administrative or legislative authority over the member agencies.
(D) The city, County of Humboldt and Humboldt Bay Harbor District shall each make an annual contribution, in an amount determined by the board, for the administration and marketing of the Foreign Trade Zone.
(Ord. 635-C.S., passed 9-17-00; Am. Ord. 648-C.S., passed 9-18-01)