EDA Resolution 10-EDA-257 - Laserfiche WebLink

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Section 5.6 Budget to City The Authority shall annually submit its budget to the City of Mounds View in accordance with City policies and budget schedules. The budget shall include a written estimate of the amount of money needed by the Authority from the City in order for the Authority to conduct business during the upcoming fiscal year. Section 5.7 Services The Authority may contract for the services of consultants, agents, public accountants and others as needed to perform its duties and to exercise its powers. The Authority also ~ use the services of the City Attorney or hire a general counsel, as determined by the Authority. Section 5.8 Supplies, Purchasing, Facilities and Services The Authority may purchase the supplies and materials it needs. The Authority may use the facilities of the City's purchasing department. The City may furnish offices, structures and space, stenographic, clerical, engineering and other assistance to the Authority. Section 5.9 Execution of Contracts All contracts, notes, and other written agreements of instruments to which the Authority is a party or signatory or by which the Authority may be bound shall be executed by the President and the Executive Director. If the Executive Director is absent or otherwise unable to execute a document, the Treasurer may execute the document. ARTICLE VI Section 6.1 Indemnification The €BA Authority shall be authorized to the fullest extent permitted by law to indemnify any person against expenses and liabilities arising by reason of the fact that the person is or was a Commissioner, officer, employee, or agent of the €-0A Authoritv. Section 6.2 Insurance The €~A Authoritv may purchase and maintain insurance on behalf of any indemnified person in the person's official capacity against any liability asserted against that person and incurred by that person in such capacity whether or not the €DA Authoritv would have been required to indemnify the person against the liability under 6.1 hereof. ARTICLE VII Page 7 Mounds View EDA Bylaws Draft Last Revised January 11, 2010