Approved February 10, 2005

Amended 07/05; 07/06; 03/10; 09/10; 05/11; 06/2013; 09/2014; 03/2015; 01/2016

Article I: Name

The name of this non-profit corporation shall be Superior Development Corporation duly established July 29, 2004.

Article II: Location

The street address of the Corporation’s point of contact is 135 West 4th Street, Superior NE 68978.

Article III: Purpose

To utilize the resources of the Superior Development Corporation developing and promoting a positive economic climate.

Article IV: Membership

The Corporation shall not have members. It will be comprised of Directors. The Directors shall not be limited in number and shall be selected by the existing Directors for a term of 3 years. A Director may not succeed himself or herself more than 3 times. If a new Director is appointed to fill a vacated position the new appointee will then complete the rest of the term. A Director may be removed without cause with approval by a majority of vote. Attendance at meetings is an important part of serving as a Director, that said if a Director misses more than 50% of the meetings in year the Director will be asked to resign their position. Directors agree to retain business information in confidence and not to publish, make available or otherwise disclose any part or portion of such information to any third party except with the prior express written consent of an authorized representative from that business unless such information can be shown by documentary evidence to be in the public domain. Officers will need to be elected consisting of a President, Vice-President, Secretary and Treasurer who will be elected every 2 years. The Corporation will appoint one specific individual to handle all media correspondence.

Article V: Compensation

Directors shall receive no compensation for time served. Approval is required before an expense will be considered for reimbursement. Documentation will need to be submitted to the Directors, approved by a majority of vote; thus, directing the expenditure to be paid. In regards to out of town meetings—if approval from the Board of Directors can not be obtained beforehand a Board Officer may be contacted to attain permission to attend. Expenses for such meeting may be approved providing documentation has been submitted after the meeting.

Article VI: Meetings

Meetings are scheduled the 2nd Thursday & 4th Thursday of every month unless otherwise notified. If you are unable to attend, a courtesy call or an email is requested informing one of the Officers or Director of your excused absence. A majority of the votes entitled to be cast on matters by the voting group, constitutes a quorum of that voting group for action. The Board of Directors shall serve as the voting group.

Article VII: Annual Meetings

Annual meeting will be held in the month of January at a time and place designated by the Board. The purpose of the Annual meeting will be to elect directors to the board. Candidates must meet the following qualifications: 1) Be a member of the greater Superior Community 2) reside in the greater Superior community for at least 2 years. The program administrator will form a nominating committee 2 months prior to the Annual meeting to recommend candidates. Nominations will also be taken from the current Directors and a slate of candidates will be voted on by the Superior residents in attendance at the Annual meeting.

Article VIII: Committees

Committees will be formed with their meeting times scheduled as needed. Updates will need to be provided at the monthly meetings.

Article VIIII: Dissolution

Upon dissolution of the corporation, the Board of Directors shall after paying or making provisions for payment, will distribute all assets to the City of Superior.

Article X: Amending Bylaws

Bylaws may be amended by a majority vote of the Directors.