§ 35.35 REVOLVING LOAN FUND COMMITTEE.
   (A)   Established. There is hereby established a Revolving Loan Fund Committee, to consist of five persons each appointed to two-year terms, with two of such persons' terms ending on April 30 of odd-numbered years and three of such person's terms ending on April 30 of even-numbered years. Persons appointed to the Revolving Loan Committee shall be persons having economic development qualifications or experience. Candidates shall be recommended by the Mayor and confirmed by majority vote of the City Council. One member of the Committee shall be a representative of the Mattoon Area Industrial Development Corporation. When a vacancy occurs on the Committee, the Mayor shall seek nominations for replacement committee members from the Coles Together Economic Development Corporation and the Mattoon Chamber of Commerce.
      (1)   The Executive Directors of the Coles Together Economic Development Corporation and the Mattoon Chamber of Commerce are ex officio non-voting members of the Committee.
      (2)   The City Administrator is the ex officio non-voting Chair of the Committee.
      (3)   The City Attorney is an ex officio, non-voting member of the Committee. In the absence of the City Administrator, the City Attorney is the ex officio non-voting Chair of the Committee.
      (4)   The City Clerk shall provide staffing for the Committee, unless the City Council authorizes a third party contractual agreement for administration and coordination of the Revolving Loan Fund.
   (B)   Conflict of interest. No person appointed to the Committee shall participate in any decision with respect to any loan application or other business brought before the Committee by or from any person with whom that committee member has had a significant business relationship within two years prior to the issue being presented to the Committee. Further, committee members shall not consider any loan application from any person with whom the Committee member is related by blood or marriage.
   (C)   Rules of procedure. The Revolving Loan Fund Committee shall follow Roberts Rules of Order.
(Ord. 2003-5163, passed 6-17-2003)