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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: November 5, 2007 <br />Action Agenda <br />Item No. ~ -~ <br />SUBJECT: Orange County Small Business Loan Pool -Bylaws Revision for Board of <br />Directors <br />DEPARTMENT: EDC <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Resolution with Exhibit A -New Bylaws <br />Provisions Related to the Board of <br />Directors <br />Current Bylaws Provisions Related to the <br />Board of Directors <br />INFORMATION CONTACT: <br />Willie Best 245-2308 <br />Yvonne Scarlett 245-2325 <br />PURPOSE: To approve bylaw provisions pertaining to directors for the Orange County Small <br />Business. Loan Program. <br />BACKGROUND: The County Commissioners approved recommended changes to the <br />operations of the Orange County Small Business Loan Program (including composition of the <br />Board of Directors) on March 13, 2007. The attached resolution was approved. by the Board of <br />Directors of the Orange County Small Business Loan Program Company and now requires the <br />approval of the County Commissioners. <br />FINANCIAL IMPACT: This fund has a total of $75,000. There is no financial impact associated <br />with the bylaws revision. <br />RECOMMENDATION(S): The Manager recommends that the Board approve the revisions to <br />the bylaws revisions related to the Board of Directors for the Orange County Small Business <br />Loan Pool <br />