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Request for Action <br /> <br /> <br />To Item Number <br />Economic Development Authority 7.1 <br />Agenda Section Meeting Date Prepared by <br />General Business January 22, 2019 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Annual Meeting Election of Officers for Chair, Cal Portner, City Administrator <br />Vice Chair, and Secretary <br />Reviewed by <br /> <br /> <br />Action Requested <br />Appoint, by motion, the EDA President, Vice President, Treasurer, Secretary, and Assistant Treasurer for <br />2019. <br /> <br />Background/Discussion <br />EDA Bylaws identify five officer positions president, vice president, treasurer, secretary, and assistant <br />treasurer. The offices of president and vice president may not be held by the same commissioner <br />concurrently. <br /> <br />President: Shall be selected from among the Commissioners, shall preside at all meetings of the <br />Commissioners, and shall have general charge of and control over the affairs of the Authority subject to <br />the approval of the Commissioners. <br /> <br />Vice President: Shall be selected from among the Commissioners, shall preside at all meetings of the <br />Commissioners in the absence of the president and shall perform such duties as may be assigned by the <br />Commissioners. In case of death, retirement, resignation, or disability of the president, the vice president <br />shall perform and be vested with all the duties and powers of the president. <br /> <br />Treasurer: Shall be selected from among the Commissioners, shall receive and is responsible for <br />Authority money and for acts of the assistant treasurer. The treasurer shall disburse Authority money by <br />check only and keep an account of the source of all receipts and the nature, purpose, and authority of all <br />disbursements. By March 31 of each year, the treasurer shall file with the secretary detailed financial <br />statements of the Authority covering the financial operations of the Authority during the twelve (12) <br />month period ending on December 31 of the current year. The treasurer shall provide a bond as required <br />by law. <br /> <br />Secretary: Shall be responsible for taking and preparing minutes of each meeting. Further, shall be <br />responsible for maintaining any appropriate files as deemed necessary by the Commissioners, including <br />files of the minutes, publications of meetings, and meeting agenda. The secretary shall also perform such <br />functions as may be deemed necessary by the president. <br /> <br /> <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />