CID Board definition
Examples of CID Board in a sentence
The Developer, as an owner of real property in the District, will authorize the appointment to the CID Board of Directors of two persons designated by the City who meets all other qualifications to serve on the CID Board of Directors, by designating such persons as an authorized representative of the Developer with respect to the CID.
Promptly following the approval of this Agreement by the CID Board of Directors, the CID shall adopt a resolution to impose a community improvement district sales and use tax (the “District Sales Tax”).
Following the establishment of the CID, the City and the CID Board of Directors will enter into a cooperative agreement for the purpose of establishing the terms of the relationship between the City and the CID.
The President shall create a Nominating Committee which shall have the duty of nominating qualified individuals to fill each of the open seats on the CID Board of Managers and each of the open Officer positions.
The owners of real property constituting at least 75 percent by value of all real property within the District which are subject to taxes, fees, and assessments levied by the CID Board.
The CID Board shall prepare, or cause to be prepared, a budget for capital and operating expenses for the District’s first fiscal year and submit that budget to the City’s Director of Finance (“Finance Director”) within sixty (60) days after the date the City Council approves an ordinance to establish the District.
The four (4) Managers on the CID Board of Managers who are not the President, President-Elect, or Immediate Past-President shall be Managers-at-large.
For the calendar year in which the Licensure of Redeveloper for the Project occurs, the Project CID shall make, on the January 31st immediately following Licensure, a pro rata payment to the CID Board in the amount of $1,000 per day for each day between the date of Licensure and December 31st of the year of Licensure for Supplemental Services.
At the official caucus of electors at which CID Board members are to be elected in the sixth year following the creation of the SWCID, and every sixth year thereafter or upon such other frequency as may be reasonably necessary to marry the term of the SWCID with the term of any financial or contractual obligation, the question shall be put to the electors present to dissolve the SWCID.
State law requires that the services and facilities pertaining to any new Community Improvement District shall be provided for in a Cooperation Agreement executed jointly by the CID Board, the county and/or municipality within which that Community Improvement District is located.