2. GFMEDC sales tax resolution - Laserfiche WebLink

c. Upon receipt of a Proposal from the EDC, the Board of GIF shall act within a reasonable period of time to approve or reject the Proposal in accordance with the GIF bylaws and other policies. In the event that the GIF shall cease its existence, the Cass County Board of Commissioners shall appoint a replacement entity or organization. d. If the GIF shall approve the Proposal, the EDC shall within a reasonable period of time present the Proposal to the Cass County Board of Commissioners and request the approval of the Proposal. The Cass County Board of Commissioners, consistent with its rules and procedures, shall act within a reasonable period of time to reject or approve the Proposal. e. If the Cass County Board of Commissioners shall approve the Proposal, the GIF may immediately take such actions as are consistent with the Proposal, including the expenditure and investment of the Funds without further approval or consent by the Cass County Board of Commissioners. f. If a Proposal is rejected by the GIF or the Cass County Board of Commissioners, the EDC may abandon, revise or resubmit the Proposal at such time or times as the EDC may determine. g. The Funds may not be used for the costs of operations of the EDC or the GIF. h. Any assets to be owned as a result or part of the expenditures of the Funds shall become the assets of the GIF. 1. The Funds may be used to manage any assets that arise as a result of the expenditures of the Funds, including the payment of any reasonable and necessary expenses. J. No amendment shall be made to the Sales Tax Revenue Governance Rules without the vote by the citizens of Cass County. 7. Any amendment to the Growth Plan shall first be approved by the EDC Board of Directors. Such amendment would then be presented by the EDC as a recommendation to the Cass County Board of Commissioners. The recommended amendment shall be approved by the Cass County Board of Commissioners prior to implementation. A proposed amendment shall have two readings by the Cass County Board of Commissioners. The first reading shall consist of an announcement of the proposed amendment at a meeting of the Cass County Board of Commissioners and publication of a summary of the amendment in the official newspaper of the county at least six days before the second reading. The proposed amendment shall be given a second reading and submitted to a roll call vote of the Cass County Board of Commissioners. If a majority of the elected county commissioners concur with the amendment, it shall be approved and become effective on the date stated within the amendment or, if no date is stated, on the first day of the month following the roll call vote. 3