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<br />b. The officers shall have the usual duties and <br />powers of their offices, including those set <br />forth in the Statute. <br /> <br />4. Bylaws and Rules: <br /> <br />a. The Authority shall adopt bylaws and rules to <br />govern its procedures and for the transaction of <br />its business. The records of the Authority shall <br />be a public records, as provided by law. <br /> <br />b. The Authority shall adopt an official seal. <br /> <br />5. Employees: <br /> <br />a. The Authority may employ an executive director <br />and such other employees as it may require, and <br />determine their duties, qualifications, and <br />compensation.. <br /> <br />b. The Authority may contract for the services of <br />consultants as needed to perform its duties and <br />exercise its powers. <br /> <br />c. The Authority shall use the services of the City <br />attorney as its chief legal advisor. <br /> <br />d. The Authority may delegate to its agents or <br />employees such powers or duties as it may deem <br />proper. <br /> <br />6. Conflict of Interest: <br /> <br />Except as otherwise provided by law, a Commissioner, <br />officer, or employee of the Authority must not acquire <br />any financial interest, direct or indirect, in any <br />project or in any property included or planned to be <br />included in any project, nor shall the person have any <br />financial interest, direct or indirect, in any <br />contract or proposed contract for materials or <br />services to be furnished or used in connection with <br />any project. <br /> <br />7. Powers: <br /> <br />The Authority shall have all powers conferred upon <br />Economic Development Authorities by the Statute, as <br />amended from time to time, including: <br /> <br />a. The powers of a housing and redevelopment <br />authority under Minn. Stat. S 469.001 et seq.; <br /> <br />b. The powers of a City under Minn. Stat. S 469.124 <br />et seq.; <br /> <br />2 . <br />