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RESOLUTION NO. 13-5 <br /> A RESOLUTION OF THE COMMISSIONERS OF THE <br /> CITY OF ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> AMENDING THE BYLAWS OF THE AUTHORITY WITH <br /> RESPECT TO THE PURCHASING POLICIES OF THE AUTHORITY <br /> WHEREAS, Section 5.1 of the Bylaws of the Economic Development Authority for the <br /> City of Elk River ("Bylaws") provides that the Bylaws may be amended at any meeting provided that <br /> notice of such proposed amendment shall be given to each Commissioner and each member of the <br /> governing body of the City prior to such meeting; and <br /> WHEREAS, the Commissioners of the Authority have determined it is necessary to amend <br /> Section 4.4 of the Bylaws to make the Contracting and Procurement policies of the Authority <br /> consistent with state law and the Financial Management Policies of the City of Elk River;and <br /> WHEREAS, notice of the meeting at which this amendment of the Bylaws is approved has <br /> been given to each Commissioner and each member of the governing body of the City prior to such <br /> meeting. <br /> NOW, THEREFORE, the Commissioners of the Economic Development Authority for <br /> the City of Elk River make the following amendments to the Bylaws: <br /> Section 3.1(01) of the Bylaws shall be amended to read as follows: <br /> (01) President — The President, who shall be selected from among the <br /> Commissioners, shall preside at all meetings of the Commissioners, and shall <br /> have general charge of and control over the affairs of the Authority subject <br /> to the approval of the Commissioners. The President shall sign or <br /> as authorized by the Authority. <br /> Section 4.4(02) of the Bylaws shall be amended to read as follows: <br /> (02) Approval of Contract by Attorney — Contracts of the Authority shall <br /> be in writing and, except when deemed unnecessary by the Authority or the <br /> Executive Director, shall be - - - :.. -- - - - . .., . - - - - <br /> employee except in writing approved as to form by the attorney for the <br /> Authority. <br /> Section 4.4(03) of the Bylaws shall be amended to read as follows: <br /> (03) Execution of Contracts —Unless otherwise directed by the Authority, <br /> required by law or required by the State or Federal agencies furnishing funds <br /> to the Authority, all purchasing contracts of the Authority shall be executed <br /> on behalf of the Authority by any two of the officers of the Authority as <br />