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RESOLUTION 94-122 e RESOLUTION FOR THE CITY OF ELK RIVER A RESOLUTION MODIFYING RESOLUTION NO. 87-63 ESTABLISHING AN ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF ELK RIVER, MINNESOTA WHEREAS, Minnesota Statutes 469.090 et seq. (the Statute) authorizes the City of Elk River (the City) to establish an Economic Development Authority pursuant to the procedures and subject to the restrictions set forth therein; and, WHEREAS, on October 7, 1987, the City Council for the City of Elk River (the City Council) adopted Resolution No. 87-63 creating the City of Elk River Economic Development Authority (the Authority); and, WHEREAS, on February 12, 1990, the City Council adopted Resolution No. 90-5 to expand the Authority from five (5) to seven (7) Con~issioners by including two (2) residents to serve the Authority at-large; and, e WHEREAS, the City Council finds that it is in the best interest of the City and its residents to further broaden the representation on the Authority. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River, Minnesota, as follows: 1. Paragraphs 2(a) and 2(b) of City Council Resolution No. 87-63, the enabling resolution for the Economic Development Authority for the City of Elk River, Minnesota, are hereby amended to read as follows: 2. Commissioners (a) The Commissioners of the Authority shall include the Mayor of the City of Elk River, three (3) additional members of the City Council of the City of Elk River, and three (3) residents of the City of Elk River who are not members of the City Council. The Mayor shall make all appointments to the Authority, with the approval of the City Council. e (b) The terms of the Commissioners who are members of the City Council shall coincide with their term of office, unless a