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5.2) Existing Projects -The Authority shall have no control nor authority over any existing <br /> economic development or redevelopment project in the City unless specifically so provided by <br /> resolution of the City Council. If the City Council adopts a resolution transferring control,authority <br /> and operation of any existing project to the Authority, the Authority shall accept control,authority, <br /> and operation of the project. When taking control of an existing project the Authority may exercise <br /> all for the powers that the governmental unit established in the project could exercise with respect to <br /> the project and shall covenant and pledge to perform the terms, conditions, and covenants of any <br /> bond indentures or other agreements executed with respect to the project. <br /> 5.3) Advisory Committees -The Authority shall maintain, at their discretion,volunteer <br /> advisory committees which will act in an advisory capacity to the Authority. <br /> (01)The advisory committees will include without limitation: <br /> (a) A finance committee; <br /> (b) A marketing committee; <br /> (c) A prospecting committee; <br /> (d) A research and development committee; <br /> (e) A beautification committee <br /> (02) All members of the advisory committees will be appointed by the Authority. <br /> (03)The responsibility of the advisory committees shall be to advise and assist the Authority and to <br /> work with the executive director of the Authority and the economic development coordinator of the <br /> City on assignments if needed. <br /> Adopted this 19th day of December, 2016 <br /> Dan Tveite,President <br /> tit <br /> 1 <br /> J e fer Wagner, ice President <br /> Matt estgaard,Trc urer -^ <br /> V?) i <br /> 1 <br /> f J <br /> Barb Burandt, ecretary <br />