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<br />e <br /> <br />RESOLUTION 94 - <br /> <br />RESOLUTION FOR THE CITY OF ELK RIVER <br /> <br />A RESOLUTION MODIFYING RESOLUTION NO. 87-63 <br />ESTABLISHING AN ECONOMIC DEVELOPMENT AUTHORITY <br />FOR THE CITY OF ELK RIVER, MINNESOTA <br /> <br />WHEREAS, Minnesota Statutes 469.090 et sea. (the Statute) authorizes <br />the City of Elk River (the City) to establish an Economic <br />Development Authority pursuant to the procedures and subject <br />to the restrictions set forth therein; and, <br /> <br />WHEREAS, on October 7,1987, the City Council for the City of Elk River <br />(the City Council) adopted Resolution No. 87-63 creating the <br />City of Elk River Economic Development Authority (the <br />Authority); and, <br /> <br />e <br /> <br />WHEREAS, on February 12, 1990, the City Council adopted Resolution No. <br />90-5 to expand the Authority from five (5) to seven (70 <br />Commissioners by including two (2) residents to serve the <br />Authority at-large; and, <br /> <br />WHEREAS, the City Council finds that it is in the best interest of the City <br />and its residents to further broaden the representation on the <br />Authority. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River, Minnesota, as follows: <br /> <br />1. Commissioners <br /> <br />a. Four of the five members of the City Council of Elk River shall <br />serve as the Commissioners of the Authority together with three <br />residents of the City of Elk River who shall be appointed by the <br />Mayor, with the approval of the City Council., to serve "at- <br />large" . <br /> <br />b. The terms of the Commissioners shall coincide with their term <br />of office as members of the City Council. All at-large <br />Commissioners shall serve six (6) year terms. <br /> <br />e <br />