(A) Members. The membership of the Agency shall be five in number and may be members of the City Council. All members shall serve without compensation, but shall be entitled to be reimbursed for all necessary expenses incurred. The Agency shall, at its first meeting and annually thereafter, elect one of its members as Chairperson and another as Vice Chairperson. The Agency shall have the power to employ legal counsel and a Director, who shall be ex officio Secretary of the Agency, and such other officers and employees as may be desired.
(Prior Code, § 1-1101)
(B) Powers and duties. The Agency shall have all powers, duties and obligations as are defined and set forth in the Community Development Law, being Neb. RS 18-2101 et seq. of the state, as amended. The Agency may validly and effectively act on all matters requiring a resolution or other official action by a majority vote of its members present at a duly called meeting thereof, provided that a quorum of four members is present. The Agency shall adopt such other bylaws for its government as it shall deem necessary which are not inconsistent with this section or state law. No member or employee of the Agency shall have any interest, directly or indirectly, in any contract for property, materials or services to be required by such Agency.
(Prior Code, § 1-1102)
(C) Report. The Agency shall keep an accurate account of all of its activities and of all receipts and disbursements and make a report annually or as requested by the Council.
(Prior Code, § 1-1103)
(D) Funds. All income, revenue, profits and other funds received by the Agency from any source or realized by the Agency from tax receipts or special funding or appropriated by the city shall be deposited with the City Treasurer as ex officio Treasurer of the Agency. The City Treasurer shall not commingle such money with any other money under his or her control. Funds shall be disbursed by warrants drawn on such account when executed by the Chairperson and City Treasurer. All books and records shall be open to public inspection.
(Prior Code, § 1-1104)