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Amended Res. 23-01 <br />Amended January 2024 <br />qualifications, and compensation. <br /> <br />(01) The executive director shall have the duties and responsibilities delegated by these <br />bylaws and as assigned by the Authority. <br /> <br />(02) The Authority may delegate to its staff, employees, or agents such powers or duties <br />deemed proper. <br /> <br />3.5) Consultants - The Authority may contract for the services of consultants as needed to <br />perform its duties and exercise its powers. <br /> <br />(01) The fees, if any, of all contracted agents or consultants of the Authority shall be fixed <br />by the Authority. <br /> <br /> <br />Article 4 <br /> <br />Finance, Contracts and Other Duties <br /> <br />4.1) Fiscal Year - The fiscal year of the Authority shall be the same as the fiscal year of the City. <br /> <br />4.2) Budget - The following budgetary proceedings shall apply to the transaction of business: <br /> <br />(01) A budget shall be prepared by the treasurer in accordance with the Statute. The <br />treasurer shall present the budget to the Authority each year at such time as established by <br />the Authority, but not later than July 31. <br /> <br />(02) The budget shall include estimated revenues, the source of revenues and an estimate <br />of the amount of money needed from the City, the costs of projects for the ensuing year, the <br />estimated costs for personnel, and the purposes to which money on hand is to be applied, as <br />well as the general administrative and overhead costs estimated for the ensuing year, and a <br />proposed levy. <br /> <br />(03) After full consideration of the budget, the Authority shall approve and the president <br />shall submit the budget to the city council. <br /> <br />4.3) Financial Statements - Must be prepared, presented, approved, and filed in accordance with <br />Minnesota Statutes Sections 469.096 and 469.100 and other relevant statutes as amended or <br />revised. <br /> <br />4.4) Contracts and Procurement <br /> <br />(01) All construction work and work of demolition and clearing, contracts for services or <br />for repairs, maintenance and replacements, and every purchase of equipment, supplies or <br />materials and contracts therefore shall be in accordance with the Statute and procurement <br />policies, if any, established by resolution of the Authority. <br /> <br />Page 19 of 40