(A) The MERS shall have the responsibility for the general administration and management of the system, and for making effective and construing the provisions of this chapter. It shall have the power to negotiate and execute legal documents provided that any such legal document be approved by the city.
(B) The Board shall cease to exist as of January 1, 2016, or as soon thereafter as all of the assets are transferred to MERS, as provided herein.
(Prior Code, § 16.04) (Ord. D-1763, passed 3-4-1996, effective 3-5-1996; Ord. O-51, passed 8-7-2006, effective 8-17-2006; Ord. O-161, passed 6-8-2015, effective 6-18-2015; Ord. O-169, passed 11-2-2015, effective 11-12-2015)