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BYLAWS <br /> OF <br /> THE ECONOMIC DEVELOPMENT AUTHORITY <br /> FOR THE CITY OF ELK RIVER, MINNESOTA <br /> PREAMBLE <br /> The Economic Development Authority for the City of Elk River (the Authority) was created <br /> by Resolution No. 87-63 of the City Council of the City of Elk River, adopted on the 7th <br /> day of October, 1987, as authorized by Minnesota Statutes, Sections 469.090-469.108. The <br /> purpose of the Authority is to serve as an Economic Development Authority pursuant to <br /> Minnesota Statutes and its affairs shall include,but not be limited to,promoting commercial <br /> and industrial growth and development in the City of Elk River. <br /> ARTICLE I. <br /> AUTHORITY <br /> 1.1) Name -The legal name of the Authority is "The Economic Development <br /> Authority for the City of Elk River." <br /> 1.2) Office - The principal office of the Authority shall be the City Offices of the <br /> City of Elk River, unless otherwise determined by resolution of the Authority. <br /> 1.3) Enabling Authority-The Authority shall exist and operate under the <br /> supervision of the City of Elk River, Minnesota (the City),in accordance with Minnesota <br /> Statutes Sections 469.090 through 469.108 as amended and revised (the Statute) and <br /> Resolution No. 87-63 of the City Council of the City of Elk River (the Enabling <br /> Resolution), as amended from time to time. <br /> 1.4) General Powers and Duties -The Authority shall be a public body corporate <br /> and politic and shall have all the powers necessary or convenient to carry out the purposes of <br /> an economic development authority,including the powers granted by the Statute. <br /> ARTICLE 2. <br /> MEETINGS <br /> 2.1) Open to the Public -All meetings of the Authority shall be open to the Public <br /> and governed by the Minnesota Open Meeting Law, Minn. Stat. Section 471.705. <br /> 2:2) Quorum - A majority of the Commissioners in office at any time shall constitute <br /> a quorum for all purposes. There shall be a quorum to conduct business at all meetings of <br /> the Authority. If a quorum is not present for the Annual Meeting those present shall adjourn <br /> the meeting and the Executive Director shall establish a date for a new annual meeting and <br /> cause notice to be given as provided in section 2.5(02) of this Article. If a quorum is not <br />