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LEONARD <br /> STREET <br /> AND <br /> Powers and Duties of HRAs DEINARD <br /> • <br /> a. Disclosure. Before taking any action that could substantially affect a <br /> commissioner's or an employee's financial interests, or those of an organization with <br /> which she is associated, the commissioner or employee is required to: <br /> i. prepare a written statement describing the action and the potential <br /> conflict; <br /> ii. submit the statement to the HRA within 1 week of becoming aware <br /> of the conflict. <br /> The written statement is required to be entered into the HRA's minutes at the next <br /> meeting. <br /> The statute concludes that there is a potential conflict if the commissioner knows, or has <br /> reason to know, that the organization the commissioner is affiliated with is likely to be a <br /> participant in a project of the HRA. <br /> Failure to make appropriate disclosure is a gross misdemeanor. <br /> b. Effect of Disclosure. Once a commissioner discloses a conflict she: <br /> i. shall not attempt to influence any employees regarding the matter; <br /> • <br /> ii. shall not take part in any discussion regarding the matter; and <br /> iii. is not counted toward a quorum on the matter. <br /> c. Conflicts Prohibited. Any commissioner or employee who knowingly takes <br /> part in any manner in making any sale, lease or contract in his official capacity in which <br /> he has a personal financial interest is guilty of a gross misdemeanor. <br /> 2. Minnesota Statues, Section 471.87- 88 <br /> a. Section 471.87 applies to any"public officer,"which is a term broad enough to <br /> apply to an HRA commissioner. <br /> b. Conflicts Prohibited -again. A public officer who is authorized to take part <br /> in any manner in making any sale, lease or contract in his official capacity, shall not <br /> voluntarily have a personal financial interest in that sale, lease or contract, or personally <br /> benefit from them. <br /> c. Exceptions. Section 471.88 includes specific, narrow exceptions to the <br /> general prohibition, including things like (a) contracts with a volunteer fire department <br /> for the payment of compensation to its members, and (b) use of a bank for which a <br /> commissioner works to make loans or provide trust services. While Section 471.88 does . <br /> 2519777v1 <br /> 8 <br />