SECTION 177.3. Procedures of the Board

(a) Officers.

(1) The board chair shall be appointed by the Governor.

(A) The chair shall have the duty to generally direct, supervise, or control the business of the board and shall exercise supervisory duties as may be required or given her by the board from time to time.

(B) The chair is hereby authorized to represent, both verbally and in written communications, the official position of the board and the department on issues concerning the fund.

(2) Vice Chair. The vice chair of the board shall have such powers and duties as may be assigned to him by the chair and shall exercise the powers of the chair during any time that the chair is absent or unable to act. During any time that the vice chair is absent or unable to act, either the chair or the vice chair may designate another board member to exercise the powers of the chair.

(3) Secretary. The secretary shall keep or cause to be kept the minutes of all meetings and records of all actions of the board. During any time that the secretary is absent or unable to fulfill his duties, the secretary or the chair may designate another board member to exercise the powers of the secretary.

(4) To the extent permitted by law, the board may designate the chair, any member or members, or staff to act on behalf of the full board.

(b) Committees.

(1) Standing committees of the board. By a majority vote, the board may from time to time establish standing committees to assist the board in carrying out its duties. Such committees will be made up of not less than two and not more than four members of the board, and shall serve the board in an advisory capacity. Standing committees may be established to expire upon a certain term and/or may be dissolved at any time by a majority vote of the board.

(2) Advisory committees. By a majority vote, the board may from time to time establish advisory committees, made up of any individuals and for any legal purpose, to study, advise, make recommendations, and otherwise assist the board in carrying out its duties. Advisory committees may be established to expire upon a certain term and/or may be dissolved at any time by a majority vote of the board.

(3) Special committees, made up of any individuals and for any legal purpose, may be appointed and dissolved at any time by majority vote of the board.

(4) A member of a standing committee, an advisory committee, or a special committee shall serve without compensation, and members shall not be reimbursed for expenses unless reimbursement is deemed necessary and feasible by the board, subject to any applicable limitation on reimbursement provided by the General Appropriations Act or other law.

(c) Meetings.

(1) The board shall hold regular meetings, as called by the chair, at least two times per year.

(2) Public appearances at board meetings. Members of the public may appear before the board regarding any issue under the board's jurisdiction.

(A) Unless otherwise required or instructed by staff, a person or organization wishing to be placed on the board meeting agenda must provide a written statement of such request. The request must identify the name of the presenter(s) and the topic of discussion desired to be discussed, and must be delivered to the office at 221 East 11th Street, Austin, Texas 78701, or mailed to P.O. Box 12428, Austin, Texas 78711-2428, or faxed to [phone]. The request must include a contact person's name, mailing address, telephone number, and fax number, if available.

(B) Within 30 days after receipt of the request, the requestor will be notified of the time and place of the next board meeting for which the requestor may be placed on the agenda and the amount of time scheduled for the requestor's presentation.

(3) Public comment on scheduled agenda items. Members of the public may comment on scheduled agenda items as determined by the board, consistent with the Texas Open Meetings Act.

(A) Members of the public who wish to speak on a scheduled board agenda item must complete a comment sheet, identifying the presenter and the item to be addressed, prior to board discussion on the item. Comment sheets will be available to members of the public prior to and during board meetings.

(B) The chairman will recognize the presenter at the point in the agenda where the comments are most relevant and may determine an appropriate amount of time for the presentation. The board may further limit presentations at any time in accordance with the Act.

(4) To the greatest extent practicable and where consistent with the Texas Open Meetings Act, meetings shall proceed in accordance with Robert's Rules of Order. In the event a point of order is raised with respect to any process or action of the governing board, a determination regarding the validity of the process or action shall be within the discretion of the Governor's General Counsel division.

(5) Meeting accessibility. Any disabled or non-English speaking person who requires assistance in order to attend a board meeting will be reasonably accommodated whenever possible. Any person requiring an accommodation must contact the bank as set out in paragraph (2)(A) of this subsection.

(6) Written communication with the Board. Applications and other written communications regarding the program should be addressed to the attention of the Office of the Governor, Economic Development and Tourism Division, Texas Economic Development Bank, Attn: Product Development and Small Business Incubator Program, Post Office Box 12428, Austin, Texas 78711-2428.

(d) Responsibilities of the Board and Bank.

(1) The board will develop and implement policies that separate the policy-making responsibilities of the board and the management responsibilities of the office, the bank, and the executive director of the office. In addition, the board shall:

(A) approve bonds issued for the program;

(B) review and approve financing documents, loan applications, and loan agreements presented to it by the bank; and

(C) exercise any powers necessary and reasonable to implement the program.

(2) The bank, as staffed by the executive director of the office, will carry out administrative duties related to the bonds and the program and carry out any duties and responsibilities reasonable and necessary to implement the program. In addition, in accordance with the bond resolution, the bank shall:

(A) review and approve financing documents, including but not limited to financing agreements, funds management agreements, loan agreements, and official statements; and

(B) approve loan applications.

(C) Financing documents and other agreements executed by the bank will be signed by the governor's chief of staff or other designee of the governor, as applicable, according to the internal policies of the governor's office.

(3) The bonds shall be issued as Texas Economic Development Bank, State of Texas, General Obligation Variable Rate Demand Bonds, with program and series designations to be added as set forth in the bond resolution.

(A) The bonds will be executed on behalf of the state by the governor with his/her manual or facsimile signature.

(B) The bonds shall be authorized by resolution of the board; the resolution shall be approved as to form by the governor's chief of staff or other designee on behalf of the bank and the executive director on behalf of the office.

(C) Bonds issued by the bank for the program shall be a public security issued by a state agency for purposes of Government Code, Chapters 1201, 1202 and 1371.

(D) All issuances of bonds under the program shall be subject to review and approval by the Bond Review Board and the attorney general.

Source Note: The provisions of this §177.3 adopted to be effective May 29, 2005, 30 TexReg 3089