Conn. Gen. Stat. § 8-169kk

Current with legislation from the 2024 Regular and Special Sessions.

Section 8-169kk - Written procedures for conduct of board of directors

The board of directors of the Connecticut Municipal Redevelopment Authority shall adopt written procedures, in accordance with the provisions of section 1-121, for:

(1) Adopting an annual budget and plan of operations, which shall include a requirement of board approval before the budget or plan may take effect;

(2) hiring, dismissing, promoting and compensating employees of the authority, which shall include an affirmative action policy and a requirement of board approval before a position may be created or a vacancy filled;

(3) acquiring real and personal property and personal services, which shall include a requirement of board approval for any nonbudgeted expenditure in excess of ten thousand dollars;

(4) contracting for financial, legal, bond underwriting and other professional services, including a requirement that the authority solicit proposals at least once every three years for each such service that it uses;

(5) issuing and retiring bonds, notes and other obligations of the authority;

(6) providing loans, grants and other financial assistance, which shall include eligibility criteria, the application process and the role played by the authority's staff and board of directors; and

(7) the use of surplus funds.

Conn. Gen. Stat. § 8-169kk

Added by P.A. 19-0117,S. 215 of the Connecticut Acts of the 2019 Regular Session, eff. 10/1/2019.