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• <br />AGENDA ITEM 4 <br />STAFF ORIGINATOR: Mary Alice Divine <br />DATE: 01/23/06 <br />TOPIC: Resolution No. 06 -01 amending EDA by -laws <br />BACKGROUND: <br />When the Lino Lakes Economic Development Authority was established in 1990, <br />a set of by -laws was adopted along with the enabling resolution establishing the <br />Authority. <br />The by -laws (attached) included organizational procedures as well as <br />established a time and date for annual and regular meetings. <br />Since the time the EDA was established, the EDA has not held an annual <br />meeting on that date, nor has it held regular monthly meetings. Instead, it has <br />met as needed to consider official business. The first meeting held each year is <br />considered its annual meeting when appointments are made. At least one <br />meeting has occurred each year since the EDA was established. <br />• This amendment to the by -laws is being recommended to bring them into <br />compliance with accepted practice. The amendment includes: <br />1. Holding an annual meeting on the fourth Monday in January of each year <br />so that is coincides with the same night the City Council meets. This <br />meeting will be held for election of officers for the year, and any other <br />business that comes before the Authority. <br />2. Holding meetings throughout the year only as needed, as has been <br />accepted practice, for the purpose of conducting necessary EDA <br />business. <br />OPTIONS: <br />1. Adopt Resolution No. 06 -01 amending the by -laws. <br />2. Deny Resolution No. 06 -01 <br />3. Consider other alternatives to EDA meetings. <br />RECOMMENDATION: <br />Option 1 <br />• <br />