11-08-1989 Council Agenda - Laserfiche WebLink

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6. City Facilities, Services. The City may furnish offices, structures, space, clerical, engineering, or other assistance to the Authority. The Authority may use the City's purchasing department in connection with construction work and to purchase equipment, supplies or materials. Minn. Stat. 1 469.097. 7. Existing Development Agencies and Projects. The City may divide any economic, housing or redevelop- ment powers granted under the HRA and EDA sections of Chapter 469 between the Authority and any other authority or commission established under statutes or City Charter for economic development, housing, or redevelopment. Minn. Stat. 1469.094. The City may also, by resolution, transfer the control, authority and operation of any project as defined in the Municipal Industrial Development sections of Chapter 469 or program authorized by the HRA or Municipal Development District sections of Chapter 469 from the agency that established the project to the Authority. 8. Budgets and Reports. The Authority must submit an annual budget to the City including a detailed written estimate of the amount of money the Authority expects to need from the City during the next fiscal year. The Authority must also submit to the City a detailed account of its activities, and its receipts and expenditures during the preceding calendar year. The Authority's financial statements must be audited annually, and the audits must be filed with the State Auditor. Minn. Stat. 9 469.100. 9. Conflict of Interest. An independent anti - conflict -of- interest provision applies to EDAs. It prohibits any commissioner, employee or agent of an EDA from having any direct or indirect financial interest in any project (or property included in a project) or in any contract for materials or supplier in connection with a project. 6 Page 8