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REPORT TO PUBLIC FINANCING AUTHORITY
TO: HONORABLE CHAIRMAN
AND MEMBERS OF THE PUBLIC FINANCING AUTHORITY
FROM: ROBERT A. BRADY
EXECUTIVE DIRECTOR
DATE: DECEMBER 13, 2011
SUBJECT: ANNUAL REORGANIZATION OF THE PUBLIC FINANCING AUTHORITY TO
SELECT THE CHAIR AND VICE -CHAIR
BACKGROUND
City Council Policy No. 200-4 provides direction regarding the selection of the Chair and
Vice -Chair for the Public Financing Authority. The Chair and Vice -Chair are selected annually
by the Authority Board Members to serve a one -year term. The selection of the Chair and
Vice -Chair is to occur during the first Authority Board meeting in December each year.
DISCUSSION
The procedural format for the selection of the Chair and Vice -Chair is for the current Chair to
yield the chair to the Authority Secretary who will open the floor to nominations. Upon closing
the nominations and taking a roll call vote, the Authority Secretary will declare the Authority
Board Member selected to serve as Chair by majority vote. The newly selected Chair will
assume the chair and will preside over the selection of a Vice - Chair.
FISCAL IMPACT
There is no fiscal impact to the Authority Board.
RECOMMENDATION
It is recommended that the Authority Board yield the chair to the Authority Secretary to open
the nomination process for the office of Chair, receive nominations, close the nominations
and conduct a roll call vote; then the newly selected Chair will assume the chair and open the
nomination process for the office of Vice - Chair, receive nominations, close the nominations
and conduct a roll call vote.
Prepared by: Virginia J. Bloom, Authority Secretary
Approved by: Robert A. Brady, Executive Director
AGENDA ITEM NO. 2
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