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111 ( 02 ) Official Depository - All monies of the Authority <br /> shall be deposited in the name of the Authority in official <br /> city depositories in accordance with Minnesota Statutes . <br /> Monies shall be disbursed only by check, signed by persons <br /> designated by the Authority, except that petty cash funds <br /> not exceeding at any time One Hundred Dollars ( $100 ) may be <br /> maintained by the Authority. <br /> ( 03 ) Checks - All checks drawn on bank accounts of the <br /> Authority shall indicate the fund and, in the case of a <br /> project, the project to be charged. All checks shall be <br /> signed by the Treasurer and one other officer named by the <br /> Authority by resolution. <br /> 4 . 6 ) Records - The books and records of the Authority <br /> shall be kept at the principal office of the Authority. <br /> ARTICLE 5 . <br /> AMENDMENTS <br /> 5 . 1 ) Amendments - These Bylaws may be amended at any <br /> meeting of the Authority provided that notice of such proposed <br /> amendment shall be given to each Commissioner and each member <br /> of the governing body of the City prior to such meeting. <br /> Amendment of the Bylaws shall be in accordance with the <br /> procedural and voting requirements established by these Bylaws <br /> or by resolution of the Authority. <br /> 5 .2 ) Existing Projects - The Authority shall have no <br /> control nor authority over any existing economic development or <br /> redevelopment project in the City unless specifically so <br /> provided by resolution of the City Council . If the City <br /> Council adopts a resolution transferring control, authority and <br /> operation of any existing project to the Authority, the <br /> Authority shall accept control, authority, and operation of the <br /> project. When taking control of an existing project the <br /> Authority may exercise all of the powers that the governmental <br /> unit established in the project could exercise with respect to <br /> the project and shall covenant and pledge to perform the terms, <br /> conditions, and covenants of any bond indentures or other <br /> agreements executed with respect to the project. <br /> 5 . 3 ) Advisory Committees - The Authority shall maintain, <br /> at their discretion, volunteer advisory committees which will <br /> act in an advisory capacity to the Authority. <br /> (01 ) The advisory committees will include without <br /> limitation: <br /> (a) A finance committee; <br /> (b) A marketing committee; <br /> (c) A prospecting committee; <br /> (d) A research and development committee. <br /> 7 . <br />