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A resolution approving an Interlocal Agreement between The Metropolitan Government of Nashville and Davidson County and the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County for administrative, financial, and legal services.
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WHEREAS, The Metropolitan Government of Nashville and Davidson County ("Metropolitan Government") and the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County (the "Board") have an interest in the economic development of the Metropolitan Government area; and,
WHEREAS, on May 5, 1959, the Metropolitan County Council of the Metropolitan Government adopted Resolution No. 59-1740 approving the certificate of incorporation of the Board; and,
WHEREAS, the Board is a public corporation performing a public function pursuant to T.C.A. ? 7-53-101, et seq. ("the Act"); and,
WHEREAS, enumerated in the certificate of incorporation, the Board has the power to employ and pay compensation to such employees and agents, including attorneys, as its board of directors shall deem necessary for the business of the corporation; and,
WHEREAS, the Board currently operates with the assistance of key departments in the Metropolitan Government to administer its business and financial transactions and provide legal counsel; and,
WHEREAS, the Board has requested that the Metropolitan Government continue to provide administrative, financial, and legal services for the Board; and,
WHEREAS, the Metropolitan Government has the resources to provide administrative and financial services for the Board through its Mayor's Office of Economic and Community Development and Department of Finance, and legal services through its Department of Law; and,
WHEREAS, in order to enable the Board to fulfill its obligations under Title 7, Chapter 53 of the Tennessee Code Annotated and its certificate of incorporation, the Metropolitan Government has determined that it will benefit the public welfare ...
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