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HF 2645

2nd Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - 2nd Engrossment

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A bill for an act
 relating to Swift County; increasing the size of the board of the rural development
finance authority; amending Laws 1995, chapter 264, article 5, section 39,
subdivision 4.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 1995, chapter 264, article 5, section 39, subdivision 4, is amended to
read:



Subd. 4. Board of directors. (a) The authority consists of a board of deleted text begin sevendeleted text end new text begin ninenew text end
directors. The directors shall be appointed by the Swift county board. Each director
shall be appointed to serve for three years or until a successor is appointed and qualified.
No director may serve more than two consecutive terms. The initial appointment of
directors must be made so that no more than one-third of the directors' positions will
require appointment in any one year due to fulfillment of their three-year appointment.
The appointment of directors must be made to reflect representation of the entire county
by population, appointing one director to represent each of the five county commissioner
districts. The otherdeleted text begin twodeleted text end new text begin four new text end directors must be representatives of various county-based
economic development organizations or be directors at-large. No more than deleted text begin twodeleted text end new text begin threenew text end
directors may reside in any one county commissioner district.


(b) Two of the directors initially appointed shall serve for terms of one year, two
for two years, and three for three years. Each vacancy must be filled for the unexpired
term in the manner in which the original appointment was made. A vacancy occurs if
a director no longer resides in the county. No director shall be an officer, employee,
director, shareholder, or member of any corporation, firm, or association with which the
authority has entered into any operating lease, or other agreement. The directors may be
removed by the county for the reasons and in the manner provided under Minnesota
Statutes, section 469.010, and shall receive no compensation other than reimbursement
for expenses incurred in the performance of their duties. Directors shall have no personal
liability for obligations of the authority or the methods of enforcement and collection
of the obligations.