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Agenda Item: 6(b) |
Prepared By: Joan Taylor, City Clerk |
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Business: New Business |
Department: Executive |
Subject:
Title
Amendment of Articles of Incorporation - Article 7.11 Financial Disclosure
Body
BACKGROUND:
According to Article 7.11 “Financial Disclosure”, all Directors are required to file the same Florida Financial Disclosure Statements of municipal officers. This Financial Disclosure Statement is also known as “Form 1”, Florida Commission on Ethics.
The financial requirement for Directors to file “Form 1” was imposed by the City Council and is not a State statute requirement. The current Chairman for the Marco Island Community Parks Foundation, Inc., is proposing to repeal Article 7.11 “Financial Disclosure” from the Articles of Incorporation.
To amend the Articles of Incorporation, Article X states that Articles may be amended: “by the affirmative vote of two-thirds of Directors, provided however that Directors shall neither make nor alter any article regarding their qualification, classifications, or term of office, nor relating to the requirements of a quorum for any meeting of the members of the Corporation, and that at least 10 days’ notice of such proposed amendment shall have been furnished to all of the directors.”
Any proposed amendment must be approved by a majority of the City Council before becoming effective.
FUNDING SOURCE / FISCAL IMPACT: N / A
RECOMMENDATION: Discussion and provide direction to staff.
POTENTIAL MOTION: “I move to repeal Article 7.11. Financial Disclosure from the Articles of Incorporation and direct staff to bring this proposed amendment forward to the next available City Council meeting for a vote”.