02-25-2026 Council Packet - Laserfiche WebLink

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SECTION 6. LIMITATIONS OF POWER. 6.1 The following limits apply to the EDA and its operation: A. The sale of bonds or other obligations of the EDA must be approved by the City Council by written resolution. B. The EDA must follow the budget process for City departments in accordance with City policies, ordinances, and resolutions. C. The EDA must develop annual goals and plans for development and redevelopment within the City, and shall submit those plans to the City Council for its review and approval by written resolution. D. Development and redevelopment actions of the EDA must be in conformity to the City comprehensive plan and official controls implementing the comprehensive plan, and any such development or redevelopment plans must be submitted, reviewed, and approved pursuant to standard City processes and procedures. 6.2 As provided in Minnesota Statutes § 469.092, it is the intention of the City Council that nothing in this Resolution nor any activities of the EDA are to be construed to impair the obligations of the City under any of its contracts, or to affect in any detrimental manner the rights and privileges of a holder of a bond or other obligation issued by the City prior to the date of this Resolution. 6.3 The EDA must fulfill all of the obligations set forth in Minnesota Statutes § 469.100. SECTION 7. IMPLEMENTATION. 7.1 Officers Authorized to Act. The Mayor, City Administrator, and other appropriate City officials are authorized and directed to take the actions and execute and deliver the documents necessary to give full effect to this Resolution. 7.2 Reservation of Authority to Amend. The City Council reserves the authority to adopt such ordinances and further resolutions as are required or may permitted by Minnesota Statutes §§ 469.090 to 469.1081 to give full effect to this Resolution, and to modify this Resolution (and the authority granted and limitations set forth in this Resolution) as it may from time to time deem appropriate or necessary. Nothing in this resolution is intended or shall be construed to prevent the City Council from modifying this Resolution to impose new or different limitations upon the EDA as authorized by Minnesota Statutes §§ 469.090 to 469.1081 or to grant additional powers to the Little Canada EDA as authorized by Minnesota Statutes §§ 469.090 to 469.1081. 7.3 Severability. If any section, subsection, or part of this Resolution shall be held unconstitutional or void, the remaining provisions shall nonetheless remain in full force and effect. 7.4 Effective Date. This Resolution shall take effect immediately upon its adoption.