AMARILLO, Texas (KAMR/KCIT) — Weeks after the Amarillo City Council told the Amarillo Economic Development Corporation that their outside council would draft articles of incorporation, we got a look at five amendments.
Most of the city council meeting regarded the proposed amendments from the council’s outside attorney George Hyde. He noted they weren’t changing all of their articles of incorporation, just proposing five amendments.
City of Amarillo talks Amarillo Economic Development Corporation, park lighting, project updates in Tuesday meeting
Focusing on proposed Article Two defines the AEDC as a Type A corporation. Type A and B economic development corporations differ in the range of projects they can undertake.
Article Four defines specific purposes, powers, and restrictions, and Article Five deals with the regulation of the corporation’s internal affairs. The purpose of Article Five is, according to Hyde, to get the AEDC aligned with state law…