2A, Economic Development Authority

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-2 - Section 2.4. Secretary-Treasurer. The Secretary-Treasurer shall be the City Administrator. The Secretary- Treasurer shall receive and be responsible for Authority money, shall disburse authority money by check-or telephonic transfer,keep an account of all Authority receipts and disbursements and the nature and purpose relating thereto, shall file all financial reports and disclosures required of the Authority,make investments consistent with the City's Investment Policy, and be responsible for the acts of the Controller. The Secretary-Treasurer shall also keep minutes of all meetings of the Board and shall maintain all records of the Authority. The Secretary- Treasurer shall have such additional duties and responsibilities as the Board may from time to time and by resolution prescribe. Section 2.5. Controller. The Controller shall have all the powers and duties of the Secretary- Treasurer if the Secretary-Treasurer is absent or disabled. The Controller shall be the City Accountant. Section 2.6. Executive Director. The City's Community Development Director shall be the Executive Director of the Authority, and shall have such additional responsibilities and authority as the Board may from time to time by resolution prescribe. Section 2.7. Advisory Committees. The Authority may by resolution establish one or more advisory committees to the Authority. 3. PROCEDURES OF BOARD OF COMMISSIONERS Section 3.1. Annual Meeting. The annual meeting of the Board shall be held at 7:00 p.m. on the second Monday of the month of January in each year. Section 3.2. Regular Meetings. The Board shall hold regular meetings on the last Monday of each month, commencing at 7:00 p.m. or at such other time as the Board may determine.