[Ord. No. 2000-11 §1, 5-23-2000]
There is created pursuant to Section 99.820.2 of the Act a commission to be known at the "Tax Increment Financing Commission of Lake Ozark, Missouri" (the "Commission"). The Commission shall have continuous existence unless and until terminated by the adoption of an ordinance of the Board of Aldermen terminating it.
[Ord. No. 2000-11 §2, 5-23-2000]
The Commission shall be composed of members to be appointed as follows:
Six (6) members shall be appointed by the Mayor of the City with the consent of the Board of Aldermen.
Two (2) members shall be appointed by the Presiding Commissioner of the County of Miller with the consent of the majority of the County Commission of the County of Miller.
Within thirty (30) days after the receipt of notice of a proposed redevelopment area, redevelopment plan or redevelopment project required by Section 99.830 of the Act, two (2) members shall be appointed by the school board whose district is included within such proposed redevelopment area. The manner of selection of the members is left to the discretion of the affected district.
Within thirty (30) days after the receipt of notice of a proposed redevelopment area, redevelopment plan or redevelopment project required by Section 99.830 of the Act, one (1) member shall be appointed, in any manner agreed upon by the affected districts, to represent all other districts levying ad valorem taxes (excluding the representatives of the Board) within the area selected for a redevelopment plan.
[Ord. No. 2000-11 §§3 — 4, 5-23-2000]
With regard to the term of the first six (6) members appointed by the Mayor with the consent of the Board:
Two (2) shall be designated to serve for terms of two (2) years;
Two (2) shall be designated to serve for terms of three (3) years; and
Two (2) shall be designated to serve for terms of four (4) years.
Thereafter, members appointed by the Mayor with the consent of the Board of Aldermen shall serve for a term of four (4) years. All vacancies shall be filled for the unexpired term in the same manner as were the original appointments.
At the option of the members appointed under Section 135.020 of this Chapter, the members who are appointed by the school board and other taxing districts may serve on the Commission for a term which coincides with the length of time such redevelopment project, redevelopment plan or the designation of this area for which they were appointed is being considered for approval by the Commission or for a definite term pursuant to Section 99.820.2 of the Act. If the members representing the school district and other taxing districts are appointed for a term coinciding with the length of time a redevelopment project, plan or area is approved, such term will terminate upon final approval of such redevelopment project, redevelopment plan or designation of the area by the Board.
Those Commission members who are appointed by the school board and other taxing districts shall only be authorized to vote on matters specifically and directly relating to the redevelopment plan, redevelopment project or redevelopment area upon which their affected taxing districts levy ad valorem taxes.
[Ord. No. 2000-11 §5, 5-23-2000]
The Commission, upon the effective date of this Chapter, shall organize itself and elect from its six (6) members appointed by the Mayor, a Chairperson, Vice Chairperson, Treasurer and Secretary, each to serve for one (1) year terms or until their successors are elected.
[Ord. No. 2000-11 §6, 5-23-2000]
The Board of Aldermen hereby authorize and approve the exercise by the Tax Increment Financing Commission of all the powers delegable under the Real Property Tax Increment Allocation Redevelopment Act and in particular those enumerated in Section 99.820(3) thereof.
[Ord. No. 2000-11 §§8 — 9, 5-23-2000]
The Commission shall meet regularly and shall adopt such rules and regulations for operations as shall enable it to maintain an orderly procedure for its business and to effectively and efficiently exercise the powers authorized by the statute and delegated to it by the Board.
The Commission shall keep records and minutes of its meetings and shall report annually to the Board with regards to its activities.