5.0 EDSR 07-14-2008 - Laserfiche WebLink

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approve it and the President of the Authority shall submit the budget to the City Council. 4.3) Financial Statements -Financial statements of the Authority must be prepared, presented, approved, and filed in accordance with Minnesota Statutes Sections 469.097 and 469.100 and other relevant statutes as amended or revised. 4.4) Contracts and Procurement (01) All construction work and work of demolition and clearing, contracts for services or for repairs, maintenance and replacements, and every purchase of equipment, supplies or materials and contracts therefore shall be in accordance with the Statute and procurement policies, if any, established by resolution of the Authority. (02) Approval of Contract by Attorney -Except for the purchase of expendable office supplies, no contract shall be made by the Authority through any officer or employee except in writing approved as to form by the attorney for the Authority. (03) Execution of Contracts -Unless otherwise directed by the Authority or required by the State or Federal agencies furnishing funds to the Authority, all contracts shall be executed on behalf of the Authority by any two of the officers of the Authority. 4.5) Disbursements (01) Federal Funds -All funds received from the Government of the United States or any of its agencies shall be disbursed and accounted for in accordance with the regulations or requirements from time to time made by the Federal agencies furnishing said funds to the Authority. (02) Official Depositor- All monies of the Authority shall be deposited in the name of the Authority in official city depositories in accordance with Minnesota Statutes. Monies shall be disbursed only by check, signed by persons designated by the Authority, except that petty cash funds not exceeding at any time One Hundred Dollars ($100) may be maintained by the Authority. (03) Checks -All checks drawn on bank accounts of the Authority shall indicate the fund and, in the case of a project, the project to be charged. All checks shall be signed by the Treasurer and one other officer named by the Authority by resolution. 4.6) Records -The books and records of the Authority shall be kept at the principal office of the Authority.