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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />AGENDA ITEM 3A <br /> <br />STAFF ORIGINATOR: Michael Grochala <br /> <br />MEETING DATE: February 12, 2018 <br /> <br />TOPIC: Introduction of New Members and Annual Appointments <br /> <br />VOTE REQUIRED: Simple Majority <br /> <br />BACKGROUND <br /> <br />The Economic Development Authority (EDA) was established in 1990 pursuant to Minnesota <br />Statutes, Chapter 469. The EDA is governed by a board of commissioners consisting of the City <br />Council. Accordingly newly elected City Council member Stoesz is new to the board in 2018. <br /> <br />Each year the Economic Development Authority is required by its by-laws to hold an annual <br />meeting and to make a number of appointments. The following is a list of appointments for your <br />consideration: <br /> <br />Position 2017 2018 Recommended <br />1. President Rob Rafferty TBD <br />2. Vice President Michael Manthey TBD <br />3. Treasurer Melissa Maher TBD <br />4. Secretary Community Development <br />Director <br />Community Development <br />Director <br />5. Assistant Treasurer Finance Director Finance Director <br />6. Executive Director City Administrator City Administrator <br />7. Official Newspaper Quad Community Press Quad Community Press <br />8. Legal Depositories <br /> <br />LMC 4M Fund <br />Wells Fargo Securities <br />Wells Fargo Advisors <br />US Bank <br />RBC Capital Markets <br />Morgan Stanley <br />F&M Bank <br />First Resource Bank <br />Others as needed <br />LMC 4M Fund <br />Wells Fargo Securities <br />Wells Fargo Advisors <br />US Bank <br />RBC Capital Markets <br />Morgan Stanley <br />F&M Bank <br />First Resource Bank <br />Others as needed