349.025. Who may be incorporators.
Who may be incorporators.
349.025. Whenever any number of natural persons, not lessthan three, each of whom shall be a duly qualified elector of andtaxpayer in the county or municipality, shall file with thegoverning body thereof an application in writing seekingpermission to apply for the incorporation of an industrialdevelopment corporation of such county or municipality to developcommercial, industrial, agricultural or manufacturing facilities,the governing body shall proceed to consider such application.If the governing body shall by appropriate order or resolutionduly adopted find and determine that it is wise, expedient,necessary or advisable that the corporation be formed and shallauthorize the persons making such application to proceed to formsuch corporation and shall approve the form of articles ofincorporation proposed to be used in organizing the corporation,then the persons making such application shall execute,acknowledge and file articles of incorporation for thecorporation as hereinafter provided. No corporation may beformed unless such application shall have first been filed withthe governing body of the county or municipality and thegoverning body shall have adopted an order or resolution asprovided in this section.
(L. 1977 S.B. 267 § 4)