Discussion and possible action on any and all matters regarding amending the by-laws of the Industrial Development Authority of the City of San Luis, Arizona to conform with modern notice practices and to eliminate monthly meetings.  (Kay Marion Macuil, IDA and City Attorney)

Under Article III, Section 1 of the by-laws, notice of the annual meeting is to be given by mail ten (10) days before the meeting.  Under the same section, failure to do so does not affect the validity of the meeting.  It is recommended that this section of the by-laws be changed to read:

"The Recording Secretary shall send by e-mail notice of the annual meeting on or before the Thursday before the second Tuesday in August to each director at the address the directors have provided to the Recording Secretary.  Nevertheless, a failure to send such notice or any illegality in such notice or in the transmission of such notice shall not affect the validity of any annual meeting or of any of the proceedings at such meeting."

Under Article III, Section 2, of the by-laws, regular meetings are to be held monthly.  Since the IDA is not working any projects, there is no need for such frequency.  It is recommended that this section of the by-laws be changed to read:

"The Board shall determine at least annually whether or not to fix the time and date for periodic regular meetings for the following year."