The name of this corporation is THE ECONOMIC DEVELOPMENT CORPORATION OF EL DORADO COUNTY.
A. This corporation is a nonprofit public benefit corporation and is not organized for the private gain of any person. It is organized under the Nonprofit Public Benefit Corporation Law for charitable purposes.
B. The specific purpose of this corporation is:
- To retain and expand El Dorado County’s base of primary employment generating businesses — with emphasis on non-seasonal and non-cyclical industries;
- To promote and encourage within the cities and the county of El Dorado, the development of industrial, commercial, and tourism enterprises;
- To generally assist in the maintenance of a favorable business climate within the borders of El Dorado County;
- To assist and supplement the activities of the various local Chambers of Commerce and other organizations involved in promotional work, through cooperation and coordination.
The primary objective of this corporation is to increase the employment, payroll, business volume, and overall quality of life within El Dorado County.
The name and address in the State of California of this corporation’s initial agent for service of process is:
Economic Development Corporation of El Dorado County
542 Main Street
Placerville, CA. 95667
A. This corporation is organized and operated exclusively for charitable purposes within the neaning of Section 501 (c) (3) of the Internal Revenue Code.
B. No substantial part of the activities of this corporation shall consist of carrying on propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate or intervene in any political campaign (including the publishing or distribution of statements) on behalf of any candidate for public office.
The property of this corporation is irrevocably dedicated to charitable purposes and no part of the net income or assets of this corporation shall ever inure to the benefit of any director, officer, or member thereof or to the benefit of any private person. Upon the dissolution or winding up of the corporation, its assets remaining after payment, or provision for payment, of all debts and liabilities of this corporation shall be distributed to a nonprofit fund, foundation or corporation which is organized exclusively for charitable purposes and which has established tax exempt status under Section 501 (c) (3) of the International Revenue Code.