Sec. 14.04.07.03. Investment Committee Established

A. Established. There is an Investment Committee of the Board.

B. Composition. The Investment Committee shall consist of three directors. Each member of the Investment Committee shall serve for a term of 1 year and until the director’s successor is duly appointed and qualifies.

C. Procedures for Appointment. The Board shall elect the members of the Investment Committee by the same procedures as set forth in the TEDCO Bylaws that the Board uses for the election of officers. In considering directors for appointment to the Investment Committee, the Board and any nominating committee of the Board shall consider appropriate qualifications for serving on the Investment Committee, including:

(1) Relevant professional experience or education in economic development, economics, public policy, investment, finance, or diverse communities; and

(2) Potential conflicts that may impair the director’s ability to participate in the matters before the Investment Committee.

D. Procedures of Investment Committee. A majority of Investment Committee members present in person shall constitute a quorum for the transaction of business at a meeting. All matters brought before the Investment Committee at a properly constituted meeting shall be approved by a majority of the Investment Committee members present. All other procedures of the Committee, including procedures for consents without a meeting and remote meetings, shall be governed by the TEDCO Bylaws or the Investment Committee charter.