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BYLAWS OF THE ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF ELK RIVER, MINNESOTA PREAMBLE TheEconomic Development Authority for the City of Elk River (the Au Resolution No. 87-63 of the City Council of the City of Elk River, adopted on the October, 1987, as authorized by Minnesota Statutes, Sections 469-469.108. The purpose of the Authority is to serve as an Economic Development Authority pursu its affairs shall include, but not be limited to, promoting comm development in the City of Elk River. ARTICLE 1. AUTHORITY 1.1) Name -The legal name of the Authority is "The Economic Development Aut the City of Elk River." 1.2) Office - The principal office of the Authority shall be the City Offices Elk River, unless otherwise determined by resolution of the Authority. 1.3) Enabling Authority - The Authority shall exist and operate under the supervision of the City of Elk River, Minnesota (the City), in accordance with Sections 469.090 through 469.108 as amendedand revised (the Statute) and Resolution No. 87-63 of the City Council of the City of Elk River (the Enabling Resolution), 1.4) General Powers and Duties -The Authority shall be a public body corporate and politic and shall have all the powers necessary or convenient to carry o development authority, including the powers granted by the Statu ARTICLE 2. MEETINGS -All meetings of the Authority shall be open to the Public and 2.1) Open to the Public governed by the Minnesota Open Meeting Law, Minn. Stat. Section 2:2) Quorum -A majority of the Commissioners in office at any time shall cons quorum for all purposes. There shall be a quorum to conduct business at all meetings of the Authority. If a quorum is not present for the Annual Meeting tho meeting and the Executive Director shall establish a date for a to be given as provided in section 2.5(02) of this Article. If a qu special meeting of the Authority, those present shall adjourn th