(a) The general administration of the business of the commission shall be as spelled out in this section.
(b) The development bank shall have responsibility for administration of the affairs of the park and the fund, between meetings. This interim management shall continue until there is sufficient economic base to enable the hiring of a full-time manager of the park. The development bank shall execute policy decisions of the commission between meetings, and as guided in subsection (c) of this section.
(c) The development bank shall, without limitation, collect rents, send tenants’ notices, preserve property, handle correspondence of all matters needing immediate attention, and such usual matters between meetings that require business judgment ordinarily reposed in a project manager. Copies of all written materials and memoranda of all significant discussions shall be filed as soon as possible with the chairman.
(d) Nonbinding negotiations of business matters may be handled by the development bank between meetings of the commission. However, all contracts, binding business decisions, and matters of policy shall be decided, either in advance or by ratification, by the commission.
(e) The chairman shall schedule meetings, send meeting notices, keep records and minutes of meetings, record all policy decisions and results of hearings, and render consultation to the development bank, as needed. A majority of the commission may always call a meeting or hearing, with 10 days, advance written notice to members and parties concerned.History: Rule 4-77, eff 14 Sep 77, § 6.