HRA BYLAWS 04-05-2021 - Laserfiche WebLink

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(02) Execnt on.,of Contracts-Unless otherwise directed by the Authority,required by law or required by State or Federal agencies furnishing funds to the Authority,all purchasing contracts of the Authority shall be executed on behalf of the Authority as provided by the Purchasing Policy set forth in the Financial Management Policies of the City of Elk River,as amended from time to time. Non-purchasing contracts and other instruments of the Authority shall be executed by the Chair,or other officer if the Chair is unavailable,and the executive director,or the executive director's delegate. 6.2) Disbursements (01) Federal Funds -All funds received from the Government of the United States or any of its agencies shall be disbursed and accounted for in accordance with the regulations or requirements from time to time made by the Federal agencies famishing said funds to the Authority. (02) Official.De.)osito,iy-All monies received by the Authority from any source whatsoever shall be deposited in approved bank accounts of the Authority and shall be disbursed only by check,except that petty cash funds not exceeding One Hundred Dollars ($100) at any time may be maintained by the Authority. (03) Checks -All checks drawn on bank accounts of the Authority shall indicate the fund and,in the case of a project,the project to be charged. All checks shall be signed by the two designated Commissioners of the Authority,or one officer of the Authority and the Executive Director. 6.3) Onoin ,-Duties. The Authority shall evaluate and consider staff assignments,the status of existing Authority projects,any modifications or amendments to the"Municipal Housing and Redevelopment Act" and suggested amendments and changes to the Authority's bylaws from time to time as needed. 6.4) Official Newspaper. The official newspaper of the Authority shall be the official newspaper of the City of Elk River,unless otherwise determined by resolution of the Authority. 6.5) Official D"sitor . The official depository of the Authority shall be the official depository of the City of Elk River,unless otherwise determined by resolution of the Authority. Article 7 7.1) Advisory Committees (01) The Authority shall maintain,at their discretion,volunteer advisory committees which will act in an advisory capacity to the Authority. (02) The advisory committees will include without limitation: (a) A joint EDA/HRA Finance Committee which shall consist of(i) two HRA J.-\tda\AMS 1y101J'f.dD f 5160130 JSB ELI 85-13