(A) A reimbursement agreement may be amended or canceled by mutual consent of the parties to the agreement and may not be assigned without the prior written consent of the city.
(B) In the event that any of the obligations of the city in the reimbursement agreement constitute debt, the city shall comply, at the time of the obligation to incur the debt and before the debt becomes enforceable against the city, with any applicable constitutional and statutory procedures for the approval of this debt. The agreement shall be signed by the City Attorney, City Finance Director, and the City Manager. The total debt incurred shall be secured by the developer by a letter of credit or other security deemed acceptable to the Board of Commissioners.
(C) No member of the Board of Commissioners may vote on a reimbursement agreement if it is reasonably likely that the agreement or development would have a direct, substantial, and readily identifiable financial impact on the member.
(Ord. 07-06-02, passed 6-12-07)