City of Coolidge
Arizona

Action Item
2733

Election of Directors to the Municipal Property Corporation - Board of Directors for 2018/2019.

Information

Department:Finance DepartmentSponsors:
Category:Appointment

Attachments

  1. Printout

Body

RECOMMENDATION

 

Elect Directors for the Municipal Property Corporation (MPC) to serve for Fiscal Year 2018-2019.

 

DISCUSSION

 

The Municipal Property Corporation was formed under laws of the State of Arizona.  The primary role of the Municipal Property Corporation Board is to authorize debt issues to finance capital infrastructure or refinance existing debt.  The Articles of Incorporation calls for three Directors, President, Vice-President and Secretary.  Each year a meeting is held to elect Directors.  The Directors elected to serve in FY 2017-2018 were President Steve Hudson, Vice-President Joseph Marsh and Secretary Jimmy Walker.  Please appoint Directors that will be able to serve the complete year.

 

FISCAL IMPACT

 

None.

Meeting History

Apr 23, 2018 7:00 PM  Municipal Property Corporation MPC - Special Meeting
draft Draft

Finance Director/CFO Garcia advised the MPC Board of the need to elect the Board of Directors to the Municipal Property Corporation for FY 2018-2019. There was discussion.

Secretary Walker moved to elect Steve Hudson, Joe Marsh and Jimmy Walker to serve as Board of Directors for the FY 2018-2019 Municipal Property Corporation.

RESULT:APPROVED [UNANIMOUS]
MOVER:Jimmy Walker, Secretary
SECONDER:Joseph Marsh, Vice-President
AYES:Steve Hudson, Joseph Marsh, Jimmy Walker