The Constitution was approved by the Shareholder on 31 January 2017.
The Constitution is, in effect, a contract between investLogan and our Shareholder. In general, it specifies the relationships between and activities of investLogan, its Directors and our Shareholder.
The investLogan Constitution identifies several specific objectives, which guide us daily in the work we do. The objectives require us to undertake activities which will benefit, or can reasonably be expected to benefit, the City of Logan, including:
- tendering, or otherwise approaching the market, negotiating with and appointing developers to assist investLogan to undertake property development;
- acquisition of and investment in property;
- development for social or community benefit, or to achieve strategic development objectives for Logan City;
- research and development;
- entering into joint venture or other project delivery arrangements to deliver property development projects;
- identifying and obtaining all necessary approvals required in relation to property development projects;
- giving guarantees, mortgages or other security over the assets of the investLogan, or any other form of security to help facilitate property development projects;
- negotiating any commercial arrangements relevant to property development projects; and
- taking any other steps, which are consistent with the undertaking property development.
The objectives of the Constitution allow other activities that investLogan determine will benefit, or can reasonably be expected to benefit, the City of Logan to be undertaken.
These activities may include any other economic development or financial investment activities. For any of these other activities to proceed they must be approved by the Shareholder by ordinary resolution.