Laserfiche WebLink
BYLAWS OF THE ECONOMIC DEVELOPMENT AUTHORITY <br />OF THE CITY OF LAKE ELMO, MINNESOTA <br />ARTICLE I — THE AUTHORITY <br />Section 1. Name of Authoritv. The name of the Authority shall be the "Economic <br />Development Authority of the City of Lake Elmo, Minnesota" (which may sometimes be referred to as <br />the "EDA" or the "Authority", and its governing body shall be called the Board of Commissioners (the <br />'Board"). The Board shall be the body of responsible for the general governance of the Authority and <br />shall conduct its official business at meetings thereof. <br />Section 2. Seal of Authority. As required by Minnesota Statutes, Section 469.096, <br />Subdivision 1, the Authority shall have an official seal, which shall be in the form depicted on Exhibit A. <br />Hall, <br />Section 3. Office of Authority. The offices of the Authority shall be the Lake Elmo City <br />ARTICLE 11— OFFICERS <br />Section 1. Officers. The officers of the Authority shall be a President, a Vice - <br />President, a Treasurer, an Assistant Treasurer, and a Secretary. The President, Vice -President, and the <br />Treasurer shall be members of the Board and shall be elected annually, and no Commissioner may be <br />both President and Vice -President simultaneously. The Assistant Treasurer and Secretary need not be <br />members of the Board. <br />Section 2. President. The President shall preside at all meetings of the Board. Except <br />as otherwise authorized by resolution of the Board, the President and Secretary (the Vice -President, in the <br />Secretary's absence or incapacity) shall sign all contracts, deeds and other instruments made or executed <br />by the Authority, except that all checks of the Authority shall be signed by the Treasurer and Assistant <br />Treasurer. At each meeting the President shall submit such recommendations and information as he or she <br />may consider proper concerning the business, affairs, and policies of the Authority. <br />Section 3. Vice -President. The Vice -President shall perform the duties of the <br />President in the absence or incapacity of the President; and in case of the resignation or death of the <br />President, the Vice -President shall perform such duties as are imposed on the President until such time as <br />the Board shall select a new President. <br />Section 4. Secretary. The Secretary shall keep minutes of all meetings of the Board <br />and shall maintain all records of the Authority. The Secretary shall also have such additional duties and <br />responsibilities as the Board may from time to time and by resolution prescribe. <br />