City Clerk

APPENDIX D

INDUSTRIAL DEVELOPMENT AUTHORITY*

BILL NO. 7427

ORDINANCE NO. 7376

AN ORDINANCE AUTHORIZING THE ESTABLISHMENT OF THE "INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF KIRKWOOD, MISSOURI"

WHEREAS, Sections 349.010 to 349.105, inclusive, R.S.Mo. (1978) (the "Act") authorize the formation of an industrial development authority for each county and municipality of the State of Missouri, and

WHEREAS, Robert Reim, Philip Hallof and Gus Engelland, each being natural persons and duly qualified electors of and taxpayers in the City of Kirkwood (the "Incorporators"), have filed with this Council a written application seeking permission to apply for the incorporation of the Industrial Development Authority of the City of Kirkwood, Missouri (the "Development Authority"), and

WHEREAS, the Incorporators have contemporaneously filed with this Council a form of Articles of Incorporation proposed to be used in organizing the Development Authority, and

WHEREAS, the Council deems that the authorization of the establishment of an Industrial Development Authority is in the best interests of the City of Kirkwood.

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KIRKWOOD, MISSOURI, as follows:

Section 1.  Title.

The City Council finds and determines that it is wise, expedient, necessary and advisable to create the "Industrial Development Authority of the City of Kirkwood, Missouri," as Appendix D to the Kirkwood Code of Ordinances.

Section 2.  Authorization.

The Incorporators are hereby authorized to proceed to form the Development Authority by executing, acknowledging and filing the Articles of Incorporation with the Missouri Secretary of State as provided in the Act.  The Articles of Incorporation shall not be amended unless authorized by the City Council in the manner provided in the Act.

Section 3.  Directors.

Pursuant to the Act, the corporation shall have five (5) directors, who shall be duly qualified electors and taxpayers in the City of Kirkwood, Missouri.  The directors shall be resident taxpayers for five (5) years immediately prior to their appointment, and no director shall be an officer or employee of the City of Kirkwood, Missouri.  All directors shall be appointed for six‑year terms by the Mayor of the City of Kirkwood, Missouri, subject to confirmation by a majority of the City Council, except that the first group of directors shall serve until the expiration of the terms for which they were initially appointed.

Section 4.  Reporting.

The Development Authority shall file an annual report with the City Council, such annual report to include an audited financial statement.

Section 5.  Governing provisions.

The Development Authority shall be governed by Sections 349.010 to 349.105, inclusive, R.S. Mo. (1978) in addition to those set forth in this ordinance.

 


*Editor's note—Appendix D contains the provisions of Ord. No. 7376, adopted August 1, 1985. Said ordinance is set out herein as enacted, including arrangement, section designations, catchlines and numbering.  Absence of a history note following a particular section or subsection of App. ID indicates that such section or subsection derives unchanged from Ord. No. 7376; conversely, a history note enclosed in parentheses following a particular section or subsection indicates amendment by the ordinance or ordinances included in such history note.

Cross references—Buildings, construction and housing, Ch. 5; business redevelopment. Ch. 6; zoning, App. A.