(A) The subchapter establishing the organization of Main Street under the city is created under the laws of the state which allows a governing body of a local government to authorize the establishment of such an organization for the purpose of promoting a positive image for the downtown area as well as the city as a whole; improving economic management; strengthening public participation; stimulating downtown revitalization and historic development; and for the enjoyment of its residents and visitors.
(B) The organization shall receive, administer, and distribute funds in connection with any activities related to the purposes stated in this section; provided, however, that the corporation shall only engage in activities that are in the purview of city ordinances and state statutes.
(C) Upon dissolution of the organization, the residual assets of the organization shall be distributed to the city.
(Ord. passed 3-12-2018)