Other LanguagesConsideration of the constitutionality of expending municipal funds for the acquisition and development of industrial sites to be leased to private industries.
Exercising the authority granted to it by RCW 39.84.040 a municipality, in creating a public corporation in connection with the issuance of industrial development revenue bonds under chapter 39.84 RCW, may provide in the ordinance establishing the corporation that one or more positions on its board of directors shall be filled by a member (or members) of its governing body serving ex officio; however, if the number of members of the governing body who are to serve, ex officio, on the board of directors of corporations is less than the total number of members of the governing body, the ordinance should also, itself, state the criteria for determining which members of the governing body are also to serve as directors of the corporation.