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