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<br />(a) Joint Finance Committee A joint Finance Committee of the Authority and Economic <br />Development Authority (EDA) to provide input and advice to the Authority, EDA, and City <br />Council. Composition of the committee shall be comprised of (i) two Authority <br />Commissioners appointed by the Authority, (ii) two EDA Commissioners appointed by the <br />EDA, and (iii) up to five at-large members with a residential or business connection to the <br />Elk River community. When possible, appointment of at-large members should give <br />preference to professional representation such that there are two members of the banking <br />profession, one member of the legal profession, one member of the real estate profession <br />and one member of the community at large, each of whom shall be appointed, as needed, by <br />the then-existing members of the Finance Committee to fill any vacancy consistent with <br />foregoing community categories. The professional distinction or expertise of an Authority or <br />EDA Commissioner need not be a factor in considering satisfaction of the professional <br />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 />(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 />