§ 2.178.050. District management corporation.

A.

There is hereby authorized a district management corporation to be chartered pursuant to the provisions of the Nonprofit Corporation Act of Tennessee for the purpose of administering the special assessment revenues and the activities within the district, the making of improvements within the district, and the provision of services and projects within and for the district.

B.

The district management corporation shall be governed by a board of directors consisting of at least seven members. At least three members shall be appointed as provided in subsection C. below. The Mayor of the Metropolitan Government of Nashville and Davidson County shall appoint two of the seven members who shall serve an initial four-year term, after which the board will request that the mayor renew the four-year appointments. The property owners within the district shall appoint the remaining two members who shall serve five-year terms and these two members terms shall be extended beyond the five-year term if debt is issued and has not been repaid. These two members shall be principles of property owners or companies owning property within the district. At the end of these initial terms, these seats shall then be filled at an annual meeting upon nomination by the outgoing board members.

C.

The Speaker of the Senate of the State of Tennessee shall appoint the senator whose senate district includes the majority of the area contained within the SONA CBID to serve as an ex officio member and the Speaker of the House of Representatives of the State of Tennessee shall appoint the representative whose house district includes the majority of the area contained within the SONA CBID as an ex officio member. In addition, any member of council whose district includes any of the area contained within the SONA CBID shall serve as an ex officio member. The ex officio members shall serve for the term for which they are elected and shall not be counted in determining the presence of a quorum.

D.

Vacancies on the board for elected members shall be filled by the remaining board members present and voting to fill the vacancy.

(Ord. BL2018-1140 § 1, 2018)