03/09/1998 Council Packet - Laserfiche WebLink

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BY -LAWS OF THE LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY 1. The Authority Section 1.1. Name of the Authority. The name of the Authority shall be the Lino Lakes Economic Development Authority (hereinafter, the "Authority "), and its governing body shall be called the Board of Commissioners (hereinafter, the "Board "). Section 1.2. Office. The principal office of the Authority shall be at City Hall, 1189 Main Street, Lino Lakes, Minnesota. Section 1.3. Seal. The Authority shall have an official seal. 2. Organization Section 2.1. Officers. The officers of the Authority shall consist of a President, a Vice President, a Secretary, a Treasurer and an Assistant Treasurer. The President, the Vice President, and the Treasurer shall be members of the Board and shall be elected annually, and no Commissioner may serve as President and Vice President at the same time. The offices of Secretary and Assistant Treasurer need not be held by a Commissioner. Section 2.2. President. The President shall preside at all meetings of the Section 2.3. Vice President. The Vice President shall preside at any meeting of the Board in the absence of the President and may exercise all powers and perform all responsibilities of the President if the President cannot exercise or perform the same due to absence or other inability. Section 2.4. President Pro Tem. In the event of the absence or inability of the President and the Vice President at any meeting, the Board may appoint any remaining Commissioner as President Pro Tem to preside at such meeting. Section 2.5. Treasurer. The Treasurer shall receive and be responsible for Authority money, shall disburse authority money by check only, keep an account of all Authority receipts and disbursements and the nature and purpose relating thereto, shall file the Authority's financial statement with its secretary at least once a year as set by the Authority, and be responsible for the acts of the assistant treasurer. Section 2.6. Assistant Treasurer. The Assistant Treasurer shall have all the powers and duties of the Treasurer if the Treasurer is absent or disabled. Section 2.7. Secretary. The Secretary shall keep or cause to be kept minutes of all meetings of the Board and shall maintain or cause to be maintained all records of the Authority. The Secretary shall also have such additional duties Board. 1