2026-007 Resolution - Laserfiche WebLink

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tax revenue generated from the net profits of the businesses, the income of the employees of the businesses, if any, located in the District, and the income of persons residing within the District. Section 9. Board of Directors: Pursuant hereto, a Board of Directors is established to govern the District (the "Board") Until such time as there are businesses operating or persons employed within the District, the Board shall be composed of the following three (3) members: One (1) member representing the City; one (1) member representing the Township; and one (1) member selected by the members described directly above in this section. After businesses are established and persons are employed within the District, the Board shall consist of five (5) members. One (1) member of the Board shall be from the City and one (1) member of the Board shall be from the Township. The Township member of the Board shall be from the Township Trustees or a designee of the Board. The City member shall be the Mayor or a designee who is appointed by the Mayor and approved by City Council. One member representing the owners of businesses located within the District shall be appointed by the Township Trustees. One member representing the persons working within the District shall be appointed by the City. The final member shall be selected, as set forth in ORC Section 715.72(P)(1)(e) and shall be the Chair of the Board. The members of the Board who are elected officials of the City and the Township shall serve only so long as they are such officials of the City and the Township; provided that if the City member is not the Mayor of the City, such member shall serve at the pleasure of the Mayor and until a successor is appointed by the Mayor and approved by City Council. The terms of the Board shall be as set forth in ORC Section 715.72(P)(1). In the event that the Township shall cease to exist and the Property is included within a municipal corporation as described in Section 6 hereof, the Board, but prior to such event, shall establish a procedure for the appointment of the Township member to the Board from the political subdivision or entity succeeding to the Township or being added as a party to this Contract in accordance with ORC Section 715.72(P)(2), particularly ORC Section 715.72(G), provided that the Board shall continue to have five (5) members, one of whom shall be from the Township or its successor. The members of the Board shall serve without compensation. Necessary and authorized expenses incurred by members of the Board on behalf of the District shall be reimbursed from the District funds in accordance with procedures established by the Board. The Board shall elect the following officers from among its members: a Chairperson (in compliance with ORC Section 715.72(P)(2)(c)), Vice Chairperson, a Secretary, and a Treasurer, provided that the Secretary and the Treasurer may be the same person. The Chairperson shall be initially appointed pursuant to ORC Section 715.72(P)(2)(c) and serve an initial term pursuant to ORC Section 715.72(P)(2)(c), and thereafter is subject to election as provided herein. The remaining Officers shall be elected at the first meeting of the Board and serve an initial term pursuant to ORC Section 715.72(P)(2), and thereafter shall serve a four-year term and shall serve 4