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• <br /> • The offices of the PDA would consist of a Chairman, Vice Chairman , <br /> Secretary and Treasurer. <br /> • The PDA would also have an Executive Director or President who would be <br /> an employee of the Authority and would be responsible for the <br /> day—to—day operations of the authority. The Executive <br /> Director/President would report directly to the Board of Directors. <br /> • The PDA would not have the power of eminent domain or any power to levy <br /> taxes or special assessments. The PDA could , however , receive property <br /> from the City where the City had exercised in its power of eminent <br /> domain. <br /> • The PDA could issue negotiable bonds or notes. <br /> • The limits of the PDA would be the City of Everett, but the PDA could <br /> conduct activities outside the City of Everett subject to contractual <br /> arrangements with other public agencies. <br /> • At least once each year the PDA would submit to the City and Port a <br /> detailed report outlining the activities of the PDA, all costs and <br /> liabilities incurred, a projection of future costs and activities, and <br /> a description of how the public interest was served and the policies <br /> and comprehensive plans of the City and Port were furthered . <br /> The proposed enabling ordinance and charter define in detail the purpose, <br /> . function and legal limitations of PDA. <br /> Remember , the PDA is an implementing tool which will be working primarily on <br /> site—specific development issues. Because of this, the PDA would not <br /> duplicate the functions and purposes of other economic development agencies in <br /> the community. Table A illustrates the primary functions of each of these <br /> agencies and indicates how they would interrelate. <br /> -3- <br />