Chapter 3.09
ECONOMIC DEVELOPMENT CORPORATION*

Sections:

3.09.010    Created.

3.09.020    Board of directors established.

3.09.030    Directors appointed – Vacancies.

3.09.040    Financial interests prohibited.

*Cross reference(s) – Boards and commissions, title 2, subtitle III; business licenses and regulations, Ch. 5.01 et seq.

State law reference(s) – Industrial development revenue bonds, RCW 39.84.010 et seq.

3.09.010 Created.

For the purpose of facilitating economic development and employment opportunities within the city, there is created the city of Kent economic development corporation to exist under the authority of and for the purposes authorized by Chapter 39.84 RCW as the same may be amended from time to time. The economic development corporation shall operate under Chapter 39.84 RCW and under the provisions of the charter, on file with the city clerk and by this reference incorporated herein, which the city is authorized to and does issue to the economic development corporation and by this chapter is approved. The city reserves the right, by ordinance, in its discretion and at any time to alter or change the structure, organizational programs or activities of the economic development corporation including dissolving the corporation if the contracts entered into by the economic development corporation are not impaired. Any net earnings of the economic development corporation beyond those necessary for the retirement of the indebtedness incurred by it shall not inure to the benefit of any person other than the city. Upon dissolution of the economic development corporation, title to all property owned by the corporation shall vest in the city.

(Ord. No. 2419, § 1; Ord. No. 2994, § 2(12.18.010), 8-20-91. Formerly Code 1986, § 12.18.010)

State law reference(s) – Similar provisions, RCW 39.84.030.

3.09.020 Board of directors established.

There is established a board of directors composed of five (5) members to govern the affairs of the economic development corporation. The board of directors shall consist of three (3) council members serving ex-officio and two (2) or more noncouncil members whose appointments shall be as set forth in KCC 3.09.030. The board of directors shall be subject to the open public meetings law of the state. A majority of the board shall constitute a quorum for the purpose of conducting meetings, and all actions taken by the board other than adjourning a meeting for lack of a quorum shall require an affirmative vote of a majority of members of the board. The board of directors shall conduct the affairs of the economic development corporation but may delegate administrative and managerial duties to employees of the corporation. The board of directors shall have authority to employ its own staff and independent professional consultants to carry out its duties, provide for their compensation and the compensation of members of the board, designate one (1) or more depositories, provide for reimbursement for expenses, provide for board meetings, the principal office of the economic development corporation and other matters necessary for the operation of the corporation. The powers and limitations of the economic development corporation shall be as set forth in Chapter 39.84 RCW and other applicable law.

(Ord. No. 2419, § 1; Ord. No. 2994, § 2(12.18.020), 8-20-91. Formerly Code 1986, § 12.18.020)

3.09.030 Directors appointed – Vacancies.

A. Noncouncil member directors shall be appointed by the mayor subject to confirmation by the city council. The term of office for noncouncil member directors shall be for four (4) years. The noncouncil member directors shall be appointed biennially as the terms of their predecessors expire. The anniversary date for noncouncil member directors for designation of terms shall be the end of the economic development corporation’s fiscal year. Council member directors serving on the board of directors shall be comprised of the three (3) most senior council members serving on the city council. Council member directors of the board serving by reason of the public office which they hold shall serve until they no longer occupy that public office or are no longer the most senior council members available to serve.

B. The mayor, subject to city council confirmation, shall fill vacancies of noncouncil member seats on the board of directors for the remainder of the unexpired term by an appointing resolution. If a council member director refuses to serve on the board of directors, then the next most senior council member who has not refused to serve, shall serve on the board.

C. Notwithstanding subsections (A) and (B), above, members of the board of directors shall continue as members of the board until their positions are filled as set forth in this section. This section shall apply in the event of the expiration of a term of a noncouncil member director or in the event that a member of the board of directors serving by reason of the public office which is held no longer occupies that public office. Nothing in this section shall impair the right of the city council to remove any noncouncil member of the board of directors.

(Ord. No. 2592, § 1; Ord. No. 2994, § 2(12.18.030), 8-20-91. Formerly Code 1986, § 12.18.030)

3.09.040 Financial interests prohibited.

It shall be illegal for a director, officer, agent or employee of the economic development corporation to have directly or indirectly any financial interest in any property to be included in or any contract for property, services or materials to be furnished or used in connection with any industrial facility financed through the economic development corporation. Violation of any provision of this section is a gross misdemeanor under state law.

(Ord. No. 2419, § 1; Ord. No. 2994, § 2(12.18.040), 8-20-91. Formerly Code 1986, § 12.18.040)

State law reference(s) – Similar provisions, RCW 39.84.050.