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AN ORDINANCE AUTHORIZING NORTHEAST ARKANSAS INDUSTRIAL DEVELOPMENT COMMISSION
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WHEREAS, economic and industrial development of the City of Jonesboro is required for the continued prosperity and economic health of the public; and
WHEREAS, establishment of an organization to oversee the expenditure of public funds directed to industrial development would be beneficial to the Jonesboro citizens; and
WHEREAS, by agreement of the City of Jonesboro, Craighead County, Arkansas, and other parties, namely Greater Jonesboro Chamber of Commerce, Jonesboro Unlimited and Jonesboro Industrial Development Corporation, formation of a commission for industrial development of the area may now be completed;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
Section 1: The City of Jonesboro, Arkansas herewith agrees to the establishment of an entity to coordinate and allocate the expenditures of moneys appropriated by the City of Jonesboro and Craighead County for industrial development, said organization being necessary and appropriated to produce the optimum use of personnel, equipment and efficiencies of scale in industrial recruitment and development.
Section 2: The organization herewith authorized to be formed shall be named Northeast Arkansas Industrial Development Commission which shall be an unincorporated entity designated to receive and disburse funds to appropriate affiliated organizations, both public and non-public, for industrial development.
Section 3: The Commission shall be comprised of seven (7) commissioners, each to be appointed for three (3) year terms commending December 1, 1986; two Commissioners to be appointed by the Craighead County Judge; two Commissioners to be appointed by the Mayor of the City of Jonesboro and approved by the City Council; one Commissioner to be the Chairman of the Board, or similarly designated and elected representative, or Greater Jonesboro Chamber of Commerce; one to be the Chairm...
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