2. FCCEDC Growth Initiative Fnd - Laserfiche WebLink

. RECEIVED 'JAN 27 2005 GIF Bylaws Modifications CASS COUNTY COMMISStON Listed below are brief descriptions of the changes made to the current Growth Initiative Fund Bylaws, Memo of Understanding, and Amendments to the Memo of Understanding. Article II. Purpose A purpose statement was added. Currently there is no purpose stated in the Bylaws. Article ID. Membership Section 1. Members Language change to more specifically describe the F-CCEDC directors. Section 2. Powers, Rights, and Duties Language change by eliminating wording on budget but adding in wording regarding Bylaws and policies & procedures. Article IV. Board of Directors Section 2. Number and Qualifications F-CCEDC'sappointments changed from I to 3. Section 3. Term Add section on term limits. Previously nothing was mentioned on terms. In order to keep the terms staggered, some new appointees first terms may be set at either I, 2, or 3 years. From then on forward, all terms will be 3 years. Section 4. Annual Meeting A specific month was eliminated and inserted was a statement regarding a Chairman's designation. Section 7. Notice Insertion of wording regarding e-mail. Former Section 10. Informal Action by Directors Eliminated. Section 11. Electronic CollUJ:1ûnication Newly added section pertaining conference calls. Article V. Officers Any reference to President and Vice President has been changed to Chainnan and Vice Chairman. ' Section 8. General Administration Newly added to describe the F-CCEDC President's role. Article VII. Governmental Entities Administration This article more or less takes what is in the Memo of Understanding and moves it into the new Bylaws. Section~. Administrative Agreement and Indemnification Describes sónie statements ftom original Memo including indemnification. Section 2. Loan Procedures Miscellaneous language changes.