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<br />(a) A joint EDA/HRAJoint Finance Committee A joint Finance Committee of the Authority <br />and Economic Development Authority (EDA) to provide input and advice to the Authority, <br />EDA, and City Council. Composition of the committee shall be comprised of (i) two <br />Authority Commissioners appointed by the Authority, (ii) two EDA Commissioners <br />appointed by the EDA, and (iii) up to five at-large members with a residential or business <br />connection to the Elk River community. When possible, appointment of at-large members <br />should give preference to professional representation such that there are two members of <br />the banking profession, one member of the legal profession, one member of the real estate <br />profession and one member of the community at large, each of whom shall be appointed, as <br />needed, by the then-existing members of the Finance Committee to fill any vacancy <br />consistent with foregoing community categories. The professional distinction or expertise of <br />an Authority or EDA Commissioner need not be a factor in considering satisfaction of the <br />professional representation of at-large members. <br />The Chair of the Finance Committee shall be elected by the Committee for a term of two <br />years, and shall be an EDA or Authority Commissioner. The election of the Chair shall <br />occur on the first-occurring meeting of odd-numbered calendar years. <br />(a) which shall consist of (i) two HRA <br />(b) Commissioners appointed by the HRA, (ii) two EDA Commissioners appointed <br />by the EDA, and (iii) five members of the Elk River community consisting of <br />two members of the banking profession, one member of the legal profession, <br />one member of the real estate profession and one member of the community at <br />large each of whom shall be approved, as needed, by the then-existing members <br />of the Finance Committee to fill any open seat consistent with foregoing <br />community categories. If one of the HRA or EDA members also has the <br />professional distinction meeting the criteria for banking, legal, or real estate, <br />another member of the community at large may be substituted with a term that <br />runs concurrently with the term of the HRA or EDA member so that at no time <br />more than 2 HRA and 2 EDA Commissioners serve on the Committee. <br />(03) All members of the advisory committees will be approved by the Authority, unless <br />otherwise stated. <br />(04) The responsibility of the advisory committees shall be to advise and assist the <br />Authority and to work with the executive director of the Authority and the economic <br />development coordinator of the city on assignments if needed. <br /> <br />Article 8 <br /> <br /> <br />Amendments <br /> <br />These Bylaws may be amended at any regular meeting of the Authority provided that notice of such <br />proposed amendment shall be given to each Commissioner by hand, registered, or certified mail a <br />minimum of ten (10) days prior to such meeting. Amendment of the Bylaws shall be in accordance <br />with procedural and voting requirements established by these Bylaws or by resolution of the <br />Authority. <br />s:\\eda\\hra\\bylaws.doc <br />516013v5 JSB EL185-13 <br />