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(A) The city authorizes the Housing Authority of the City of Yuma (HACY) to:
(1) Act as agent for the City to construct, maintain, operate and manage housing projects of the City, and the City delegates to HACY all powers, authority and responsibilities authorized by law, including any or all of the powers authorized by A.R.S. Title 36 except the power to borrow money, issue bonds, and acquire, own and dispose of real property. However HACY may acquire, own, and dispose of the assets and real property of the Arizona Housing Development Corporation, and the real property located at 433 S. 1st Avenue, Yuma, Arizona.
(2) Employ a secretary, who shall also be executive director, and technical experts and such other officers, attorneys, agents and employees, permanent and temporary, as HACY requires, to determine their qualifications, duties and compensation, and to delegate to one or more of them such powers or duties as HACY deems proper.
(B) The HACY shall make available its books and records for examination by the city and shall provide a financial audit on an annual basis.
(C) The HACY shall provide to or give notice to the city of:
(1) Quarterly reports on all projects both under management and in the planning stages.
(2) Intent to enter into any partnerships or create any ownership interest in a business entity.
(3) Intent to form a corporation or subsidiary of HACY.
(D) The City Administrator shall determine within 30 days of notification of any action performed in accordance with division (C) above any requirement to obtain City Council approval. Should the City Administrator determine that City Council approval is required, the City Administrator shall schedule said City Council action. The City Council shall have final authority to decide any matter under divisions (C)(2) or (3) above.
(Res. R2009-89, passed 12-2-09; Ord. O2016-018, passed 7-20-16)