3.11 EDSR 01-20-2015 - Laserfiche WebLink

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5.2) Existing Projects - The Authority shall have no control nor authority over any existing economic development or redevelopment project in the City unless specifically so provided by resolution of the City Council. If the City Council adopts a resolution transferring control, authority and operation of any existing project to the Authority, the Authority shall accept control, authority, and operation of the project. When taking control of an existing project the Authority may exercise all for the powers that the governmental unit established in the project could exercise with respect to the project and shall covenant and pledge to perform the terms, conditions, and covenants of any bond indentures or other agreements executed with respect to the project. 5.3) Advisory Committees - The Authority shall maintain, at their discretion, volunteer advisory committees which will act in an advisory capacity to the Authority. (01)The advisory committees will include without limitation: (a) A finance committee; (b) A marketing committee; (c) A prospecting committee; (d) A research and development committee. (02) All members of the advisory committees will be appointed by the Authority. (03) The responsibility of the advisory committees shall be to advise and assist the Authority and to work with the executive director of the Authority and the economic development coordinator of the City on assignments if needed. th Adopted this 16 day of September, 2013 _______________________________________ Dan Tveite, President _______________________________________ Patrick Dwyer, Vice President _______________________________________ Paul Motin, Treasurer _______________________________________ Matt Westgaard, Secretary