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2 <br /> <br />Section 2.6 Treasurer. The Treasurer shall receive and be responsible for Authority money, <br />shall disburse Authority money by check only, keep an account of all Authority receipts and <br />disbursements and the nature and purpose relating thereto. The Treasurer shall file the <br />Authority’s financial statements with its Secretary at least once a year as set by the Authority <br />and be responsible for the acts of the Assistant Treasurer. <br /> <br />Section 2.7 Assistant Treasurer. The Assistant Treasurer shall have all the powers and <br />duties of the Treasurer if the Treasurer is absent or disabled. The Assistant Treasurer shall be <br />the Finance Director of the City of Little Canada (the “City”). <br /> <br />Section 2.8 Executive Director. The Executive Director shall be the City Administrator of <br />the City. The Executive Director shall be appointed executive officer of the Authority and <br />shall have such additional responsibilities as the Board may from time to time and by <br />resolution prescribe. <br /> <br />Section 2.9 Secretary. The Executive Director or his/her designee shall be the Secretary for <br />the EDA. The Executive Director shall keep or cause to be kept minutes of all meetings of the <br />Board and shall maintain or cause to be maintained all records of the Authority. <br /> <br />Section 2.10 Compensation and reimbursement. A Member, including the President, shall <br />be paid for attending each special meeting of the Authority in an amount to be determined by <br />the Little Canada City Council. In addition, the Members may be reimbursed for actual <br />expenses incurred in doing official business of the Authority. All compensation or <br />reimbursement shall be paid out of the Authority’s budget. <br /> <br />3. Procedures of Board <br />Section 3.2 Regular Meetings. The Board may hold regular meetings according to a <br />meeting schedule, if any, adopted or revised from time to time by the Board, and shall hold at <br />least one regular meeting every quarter. The Board shall approve the annual meeting dates <br />for the following year at the last meeting of the calendar year, which shall be published as <br />required by the Minnesota Open Meeting Law. <br />Section 3.3 Special Meetings. Special Meetings of the Board may be called by the <br />President or, in the event of the President’s absence or inability, by the Vice President at any <br />time, upon three days prior notice to all Members and the Executive Director. Upon the same <br />notice, special meetings of the Board may also be called by any two Members. The Executive <br />Director shall post notice of any special meeting in the principal office of the Authority no <br />less than three days prior to such special meeting. <br />Section 3.4 Quorum. A quorum of the Board shall consist of a simple majority of Members. <br />In the absence of a quorum, no official action may be taken by, on behalf of, or in the name <br />of the Board of the Authority.