|Industrial Development Authority
The seven members encourage manufacturing, industrial and commercial enterprises to locate and remain within the City by making low-interest loans available for qualifying projects through the issuance of tax-exempt bonds.
The Authority's Board of Directors review proposed projects to ensure that each constitutes an appropriate candidate for financing in furtherance of the Authority's purpose. Each financing must meet state bond law requirements and, unless issued on a taxable basis, must also meet state and federal income tax rules for tax-exempt bonds.
Meetings usually held the 2nd Tuesday of every month.
88 E. Chicago Street
Call 782-2254 for information.
Requirements: 7 members (6 yr term); Must be a qualified elector; resident of the City 1 year preceding appointment.
The term of each member shall be for six (6) years, and each member shall serve until his/her successor is appointed and qualified. Any vacancy in office during the term shall be filled by the Mayor with approval of the Council for the unexpired term.
|Alana Chavez Langdon