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b. The officers shall have the usual duties and powers of their offices, including those set forth in the Statute. . 4. Bylaws and Rules: a. The Authority shall adopt bylaws and rules to govern its procedures and for the transaction of its business. The records of the Authority shall be a public records, as provided by law. b. The Authority shall adopt an official seal. 5. Employees: a. The Authority may employ an executive director and such other employees as it may require, and determine their duties, qualifications, and compensation. b. The Authority may contract for the services of consultants as needed to perform its duties and exercise its powers. c. The Authority shall use the services of the City attorney as its chief legal advisor. . d. The Authority may delegate to its agents or employees such powers or duties as it may deem proper. 6. Conflict of Interest: Except as otherwise provided by law, a Commissioner, officer, or employee of the Authority must not acquire any financial interest, direct or indirect, in any project or in any property included or planned to be included in any project, nor shall the person have any financial interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished or used in connection with any project. 7. Powers: The Authority shall have all powers conferred upon Economic Development Authorities by the Statute, as amended from time to time, including: a. The powers of a housing and redevelopment authority under Minn. Stat. S 469.001 et seq.; . b. The powers of a City under Minn. Stat. S 469.124 et seq.; 2.