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<br />'- I ~- . -"~:r' <br />...,.... .'\- <br />>/l..-- <br /> <br />~ <br /> <br />BYLAWS OF THE <br />CITY OF SClIERTZ <br />ECONOMIC DEVELOPMENT CORPORATION <br /> <br />ARTICLE I <br />PURPOSE AND POWERS <br /> <br />:., ,. <br /> <br />Section 1.1 Pw.:pose. The Corporation is incorporated for the purposes set forth <br />in Article Four of its Articles of Incorporation, the same to be accomplished on behalf <br />of the City of Schertz, Texas (the "City") as its du1y constituted authority and <br />instrumentality in accordance with the Development Corporation Act of 1979, as <br />amended, Texas Revised Civil Statutes Annotated Article 5190.6 (the '~t"), and other <br />applicable laws. <br /> <br />Section 1.2 Powers. In the fulfillment of its corporate purposes, the <br />Corporation shall be governed by Section 4B of the Act and an election held in the City <br />on August 9, 1997 (the "Election"), and shall have all the powers set forth and conferred <br />in its Articles of Incorporation, in the Act, and in other applicable law, subject to the <br />limitations prescribed therein and herein and to the provisions thereof and hereof. <br /> <br />ARTICLE II <br />BOARD OF DIRECTORS <br /> <br />Section 2.1 Powers. Number and Tenn of Office. <br /> <br />(a) The property and affairs of the Corporation shall be managed and <br />controlled by a Board of Directors (the "Board") under the guidance and direction of the <br />City Council of the City (the "Council") and, subject to the restrictions imposed by law, <br />by the Articles of Incorporation, and by these Bylaws, the Board shall exercise all of the <br />powers of the Corporation. . <br /> <br />(b) The Board shall consist of seven (7) directors, each of whom shall <br />be appointed by the Council. <br /> <br />(c) The directors constituting the fIrst Board shall be those directors <br />named . in the Articles of Incorporation. Successor directors shall have the <br />qualmcations, . shall be of the classes of directors, and shall be appointed to the terms <br />set forth in the Articles of Incorporation. <br /> <br />(d) Any director may be removed from office by the Council at will. <br /> <br />Section 2.2 Meetings of Directors. (a) The directors may hold their meetings <br />at such place or places in the City as the Board may from time to time determine; <br /> <br />0311300 <br />