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12 4859-6924-4449\6 subdivision or who is appointed to or employed in a public position in a political subdivision in which the person has authority to make, to recommend, or to vote on as a member of the governing body, major decisions regarding the expenditure or investment of public money.” (Minn. Stat. § 10A.01, Subd. 22). Based on these definitions, EDA executive directors and commission members are subject to the gift restrictions of the Ethics in Government Act. A local official is prohibited from accepting gifts from a lobbyist or lobbyist principal including • Money, • Real or personal property, • A service, • A loan, • A forbearance or forgiveness of indebtedness, or • A promise of future employment unless the lobbyist or lobbyist principal receives consideration of equal or greater value in return. (Minn. Stat. § 10A.071, Subd. 1(b)). Employees, Services, and Supplies The EDA may employ an executive director, a chief engineer, other technical experts and agents, and other employees as it may require and may determine their duties, qualifications and compensation. (Minn. Stat. § 469.097, Subd. 1). The EDA may contract for the services of consultants, agents, public accountants, and other persons needed to perform its duties and exercise its powers. (Minn. Stat. § 469.097, Subd. 2). The EDA may use the services of the City Attorney or hire a general counsel for its legal needs (Minn. Stat. § 469.097, Subd. 3). (See appendix for sample job description). The EDA may utilize the City/County’s purchasing department in connection with construction work and to purchase equipment, supplies and materials. (Minn. Stat. § 469.097, Subd. 5). The City/County may furnish offices, structures and space, stenographic, clerical, engineering and other assistance to the EDA in order for it to perform its duties and to carry out its powers. (Minn. Stat. § 469.097, Subd. 6). The EDA may also delegate to one or more of its agents or employees powers or duties it may deem proper. (Minn. Stat. § 469.097, Subd. 7). Depositories; Default; Collateral Every two years the EDA shall name national or state banks within Minnesota as depositories for its funds. Before acting as a depository, the bank must give the EDA a bond approved as to form and surety by the EDA. The bond must be conditioned for the safekeeping and the prompt repayment of deposits. The amount of the bond must be at least equal to the maximum amount expected to be deposited at any one time. (Minn. Stat. § 469.099, Subd. 1). An EDA may deposit all its money from any source in one bank account. (Minn. Stat. § 469.099, Subd. 2).