5.0 EDSR 07-14-2008 - Laserfiche WebLink

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BYLAWS OF THE ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF ELK RIVER, MINNESOTA PREAMBLE The Economic Development Authority for the City of Elk River (the Authority) was created by Resolution No. 87-63 of the City Council of the City of Elk River, adopted on the 7th day of October, 1987, as authorized by Minnesota Statutes, Sections 469.090-469.108. The purpose of the Authority is to serve as an Economic Development Authority pursuant to Minnesota Statutes and its affairs shall include, but not be limited to, promoting commercial and industrial growth and development in the City of Elk River. ARTICLE 1. AUTHORITY 1.1) Name -The legal name of the Authority is "The Economic Development Authority for the City of Elk River." 1.2) Office -The principal office of the Authority shall be the City Offices of the City of Elk River, unless otherwise determined by resolution of the Authority. 1.3) Enabling Authority -The Authority shall exist and operate under the supervision of the City of Elk River, Minnesota (the City), in accordance with Minnesota Statutes Sections 469.090 through 469.108 as amended and revised (the Statute) and Resolution No. 87-63 of the City Council of the City of Elk River (the Enabling Resolution), as amended from tune to time. 1.4) General Powers and Duties -The Authority shall be a public body corporate and politic and shall have all the powers necessary or convenient to carry out the purposes of an economic development authority, including the powers granted by the Statute. ARTICLE 2. MEETINGS 2.1) Open to the Public -All meetings of the Authority shall be open to the Public and governed by the Minnesota Open Meeting Law, Minn. Stat. Section 471.705. 2:2) uorum - A majority of the Commissioners in office at any time shall constitute a quorum for all purposes. There shall be a quorum to conduct business at all meetings of the Authority. If a quorum is not present for the Annual Meeting those present shall adjourn