A. The initial bylaws of a public corporation shall be adopted by its initial board and shall be submitted with its application for Charter. The power to alter, amend, or repeal the bylaws or adopt new ones shall be vested in the board unless otherwise provided in the Charter or the bylaws. The bylaws may contain any provisions for the regulation and management of the affairs of a public corporation not inconsistent with law or the Charter.

B. Amendments to the bylaws shall not take effect until ten days after filing of the same with the city finance director, unless such amendment(s) shall have been passed by unanimous vote of the board and the membership (if any and if affected by the amendment), and an earlier effective date be set.