02-25-2026 Council Packet - Laserfiche WebLink

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3.7 Checks. Any check of the EDA shall be issued by the City on behalf of the EDA, and must be signed by the Mayor and City Administrator. All checks must state the name of the payee and the nature of the claim for which the check is issued. 3.8 Financial statement. The detailed financial statement of the EDA must show all receipts and disbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, the credits and assets, outstanding liabilities of the EDA in a form required for the financial statements of the City. The EDA Board shall examine the statement together with the Treasurer’s vouchers. If the EDA Board finds that the statement and vouchers are correct, it shall approve them by written resolution and enter the resolution in its records. SECTION 4. EDA STAFF. 4.1 The City Administrator shall serve as Executive Director of the EDA. 4.2 Subject to limits set by the appropriations or other funds made available, the EDA may employ such staff, technicians, and experts as may be deemed proper by the EDA Board, including engineering, legal, public accounting, consulting, or other services. Also subject to limits set by the appropriations or other funds made available, the EDA may also incur such other expenses as may be necessary and proper for the conduct of its affairs. 4.3 If the EDA hires such staff or consultants, except as expressly otherwise approved by the City Council by written resolution, the City’s administrative, managerial, and personnel practices, rules, and policies shall apply to the EDA, and its employees and consultants. 4.4 The EDA may purchase the supplies and materials it needs to carry out its functions, and may use the City purchasing department in connection with construction work and to purchase equipment, supplies, or materials. The City may furnish offices, structures and space, and stenographic, clerical, engineering, or other assistance to the EDA. SECTION 5. FUNCTIONS, POWERS, AND DUTIES. 5.1 Statutory Powers. Except as specifically limited by the provisions of this Resolution, the EDA shall have the powers and duties of an economic development authority pursuant Minnesota Statutes §§ 469.090 to 469.1081; and the powers and duties of a Housing and Redevelopment Authority pursuant to §§ 469.001 to 469.047. 5.2 Establishment of Districts. The EDA may create and define the boundaries of economic development districts at any place or places within the City of Little Canada, as provided in Minnesota Statutes § 469.101, subd. 1. 5.3 Property Rights. The EDA may exercise its powers related to real property as follows: A. Acquisitions. The EDA may acquire by lease, purchase, gift, or devise the needed right, title, and interest in property to create economic development districts, which shall be paid from EDA funds. The EDA may hold and dispose of the real property subject to the limits and conditions set forth in Minnesota Statutes §§ 469.090 to 469.108. The title to any real property acquired by purchase must be in fee simple, absolute. The EDA may accept an interest in real property acquired in another way subject to any condition of the grantor or