3.72.020 Membership--Eligibility.
In order to provide community balance, a business and credit orientation, and to facilitate coordination with the City, the Loan Administration Board shall be reflective of the following categories. The intent is that the Loan Administration Board membership have a sufficient business orientation and financial knowledge to make loan decisions.
A. The Loan Administration Board composition will attempt to reflect the proportion of minority and women representation found in the City of Berkeley.
B. At least two out of the nine Loan Administration Board members must be persons who operate a business in Berkeley.
C. In addition at least three out of the nine Loan Administration Board members must be persons who possess knowledge of and reasonable experience with business and/or credit analysis or decisions, or customary lending practices, or representatives of lending institutions (e.g. banks). At least one of these members must be present to constitute a quorum for a loan decision.
D. In addition at least one out of the nine Loan Administration Board members must be a person who possesses knowledge of and reasonable experience with business law. (Ord. 6249-NS § 1 (part), 1994: Ord. 5811-NS § 2, 1987)