Upon receiving the recommendations of the administrative review committee, the Council may issue a letter of intent, setting forth in general terms its proposed plans for granting a tax exemption and any conditions thereto. Such letters of intent shall be issued only with the approval of the Council, and as an expression of good faith intent, but shall not in any way bind the City to the granting of an exemption. Such letters of intent shall expire six months after issuance but may be renewed. A public hearing shall not be required prior to the issuance of letters of intent. No elected or appointed officer, employee or committee of the City, and no chamber, board, development council or other public or private body or individual, shall be authorized to speak for and commit the Council to the granting of a tax exemption. Letters of intent issued by the Council shall supersede any letters issued by the administrative review committee. (Ord. 17270 § 7, 6-2-98; Ord. 16349 § 7, 7-23-91. Code 1981 § 42-37. Code 1995 § 138-82.)