ECONOMIC DEVELOPMENT LOAN BOARD

El Paso City Code tit. 2, ch. 2.68

in effect

El Paso City Code § 2.68.010 Created—Membership—Appointment.

2.68.010 - Created—Membership—Appointment. The economic development loan board is created and shall consist of seven members who shall be residents of the city. The mayor shall appoint one member and each representative shall appoint one member. Membership will be from the following: A. Three members will be drawn from the finance community; B. Four members will be appointed from the business community. (Ord. 8140 § 1 (part), 1984)

El Paso City Code § 2.68.020 Ex officio members.

2.68.020 - Ex officio members. The following shall be ex officio members with the right to attend meetings and speak on questions before the board; but the ex officio members shall have no vote and shall not be counted for the purpose of making a quorum: A. One member of city council; B. Chief administrative officer of the city. (Ord. 8140 § 1 (part), 1984)

El Paso City Code § 2.68.030 Terms—Removal.

2.68.030 - Terms—Removal. A. The terms of office for members of the board, other than ex officio members, shall be for two years and the first board members' terms shall be staggered according to the following schedule: 1. Two members shall be appointed for a term of one year; 2. Two members shall be appointed for a term of two years; 3. Three members shall be appointed for a term of three years. The appointments set out in this subsection shall be made effective the date of final passage of the ordinance codified in this chapter. B. Upon expiration of the above appointments, all new appointments shall be for a full three-year term. The members of the board shall serve until their successors are appointed and shall be subject to removal under the terms of the City Charter concerning officers appointed by the mayor. (Ord. 8140 §§ 2, 3, 5, 1984)

El Paso City Code § 2.68.040 Members not to hold other public offices.

2.68.040 - Members not to hold other public offices. No member of the board, or other than ex officio members, shall hold any other office of public honor, trust or profit in the government of the city or county during his term of office. (Ord. 8140 § 6, 1984)

El Paso City Code § 2.68.050 Chairman, vice-chairman and secretary—Rules and procedures.

2.68.050 - Chairman, vice-chairman and secretary—Rules and procedures. The board members shall select from among their members a chairman, a vice-chairman, and a secretary who shall keep a record of the transactions of the board, and shall provide the board with data and information relating to the function of the board. The board shall adopt rules and regulations for the government of their own proceedings and recommend to the city council standards for the making and repayment of loans, not inconsistent with the Charter and ordinances of the city. (Ord. 8140 § 7, 1984)

El Paso City Code § 2.68.060 Staff support.

2.68.060 - Staff support. Staff support to this board shall be provided by the city's department of economic development. (Ord. 8140 § 4, 1984)

El Paso City Code § 2.68.070 Duties.

2.68.070 - Duties. The board shall perform the following duties: A. Promote, receive, review and approve or deny applications for loans intended to create jobs in the city in accordance with the standards adopted by council; B. Use the reasonable standard of care of the financial community in reviewing loan applications and in creating standards for repayments of loans; C. Utilize all repayments of loans in conformity with the ordinance codified in this chapter for further loans. (Ord. 8140 § 8, 1984)

Source: City of El Paso, City Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/tx/el_paso/codes/code_of_ordinances?nodeId=TIT2ADPE_CH2.68ECDELOBOFetched: 10/28/2026