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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 by <br /> Resolution No. 87-63 of the City Council of the City of Elk River,adopted on the 7th day of <br /> October, 1987,as authorized by Minnesota Statutes, Sections 469.090-469.108. The purpose of the <br /> Authority is to serve as an Economic Development Authority pursuant to Minnesota Statutes and <br /> its affairs shall include,but not be limited to,promoting commercial and industrial growth and <br /> 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 Authority for <br /> the City of Elk River." <br /> 1.2) Office - The principal office of the Authority shall be the City Offices of the City of <br /> Elk River,unless otherwise determined by resolution of the Authority. <br /> 1.3) Enabling Authority-The Authority shall exist and operate under the supervision of <br /> the City of Elk River, Minnesota (the City),in accordance with Minnesota Statutes Sections <br /> 469.090 through 469.108 as amended and revised (the Statute) and Resolution No. 87-63 of the <br /> City Council of the City of Elk River (the Enabling Resolution), as amended from time to time. <br /> 1.4) General Powers and Duties -The Authority shall be a public body corporate and politic <br /> and shall have all the powers necessary or convenient to carry out the purposes of an economic <br /> 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 and <br /> 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 a <br /> quorum for all purposes. There shall be a quorum to conduct business at all meetings of the <br /> Authority. If a quorum is not present for the Annual Meeting those present shall adjourn the <br /> meeting and the Executive Director shall establish a date for a new annual meeting and cause notice <br /> to be given as provided in section 2.5(02) of this Article. If a quorum is not present at any regular or <br /> special meeting of the Authority, those present shall adjourn the meeting to the next regular <br />