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b. The officers shall have the usual duties and <br /> powers of their offices, including those set <br /> . forth in the Statute. <br /> 4 . Bylaws and Rules: <br /> a. The Authority shall adopt bylaws and rules to <br /> govern its procedures and for the transaction of <br /> its business . The records of the Authority shall <br /> be a public records, as provided by law. <br /> b. The Authority shall adopt an official seal. <br /> 5 . Employees : <br /> a. The Authority may employ an executive director <br /> and such other employees as it may require, and <br /> determine their duties, qualifications, and <br /> compensation. <br /> b. The Authority may contract for the services of <br /> consultants as needed to perform its duties and <br /> exercise its powers. <br /> c. The Authority shall use the services of the City <br /> attorney as its chief legal advisor. <br /> d. The Authority may delegate to its agents or <br /> employees such powers or duties as it may deem <br /> proper. <br /> 6 . Conflict of Interest: <br /> Except as otherwise provided by law, a Commissioner, <br /> officer, or employee of the Authority must not acquire <br /> any financial interest, direct or indirect, in any <br /> project or in any property included or planned to be <br /> included in any project, nor shall the person have any <br /> financial interest, direct or indirect, in any <br /> contract or proposed contract for materials or <br /> services to be furnished or used in connection with <br /> any project. <br /> 7 . Powers: <br /> The Authority shall have all powers conferred upon <br /> Economic Development Authorities by the Statute, as <br /> amended from time to time, including: <br /> • <br /> a. The powers of a housing and redevelopment • <br /> authority under Minn. Stat. S 469 . 001 et seq. ; <br /> 411 b. The powers of a City under Minn. Stat. S 469 . 124 <br /> et seq. ; <br /> 2. <br />