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RESOLUTION 1998-21 <br />A RESOLUTION ESTABLISHING <br />AN ECONOMIC DEVELOPMENT AUTHORITY <br />WHEREAS, Laws Minnesota 1988, Chapter 678 authorizes the City of Hugo to <br />establish an Economic Development Authority (the "Authority") pursuant to the <br />provisions of Minnesota Statutes, Section 469.090 to 469.108, with specified powers and <br />obligations to promote and to provide incentives for economic development; and <br />WHEREAS, the City Council of the City of Hugo, Minnesota (the "City") has <br />determined that it is in its best interest to establish the Authority in order to preserve and <br />create jobs, enhance its tax base, and to promote the general welfare of the people of the <br />City, and <br />WHEREAS, the City has provided public notice and conducted a public hearing on <br />the proposed adoption of this enabling resolution on June 15, 1998, and has fulfilled all <br />other legal requirements for the establishment of the Authority, <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF HUGO: <br />1. An Economic Development Authority to be known as the "Economic Development <br />Authority of the City of Hugo" with all of the powers, rights, duties, and obligations as <br />set forth in Minnesota Statutes, Sections 469.090 to 469.108, and any other law is <br />hereby established in and for the City. <br />2. The Authority shall be governed by a Board of five (5) Commissioners, who shall be <br />the members of the City Council. The Commissioners shall be elected and qualified in <br />the same manner as the City Council. <br />3. Nothing shall prevent the City from modifying this enabling resolution to impose limits <br />on the powers of the Authority or for providing for other matters as authorized by <br />Minnesota Statutes, Sections 469.090 to 469.108 or any other law. <br />Adopted by the City Council this 15th day of June, 1998. <br />Fran ron, Mayor <br />ATTEST: <br />Mary t greager, City Clerk <br />