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RESOLUTION ORGANIZING THE ECONOMIC <br /> DEVELOPMENT AUTHOR171Y OF THE CITY OF [NAMEOFCITY], MINNESOTA <br /> IT IS HER-EBY RESOLVED by the Board of Commissioners (the "Board") of the <br /> Economic Development Authority of the City of [Nameofeity], Minnesota (the "EDA") as <br /> follows: <br /> I Recitals. <br /> (a) On [Year], the City of [NameofCity], Minnesota (the <br /> "City"), acting through its City Council, adopted an enabling resolution establishing the <br /> EDA pursuant to Minnesota Statutes, Sections 469.090 through 469.108. <br /> (b) The Board wishes to provide for the basic organization of the EDA, <br /> including appointment of officers and adoption of Bylaws. <br /> 2. Adoption of Bylaws and Appointment of Officers. The Board hereby (1) <br /> vest Bylaws of the EDA, as presented on the date hereof for the Board's consideration, <br /> and (2) appoints and approves the following officers of the EDA (Note: the offices of President, <br /> Vice-President and Treasurer must be held by Boardmembers, but the offices of Secretary and <br /> Assistant Treasurer need not be; the offices of President and Vice-President must be held by <br /> different persons): <br /> President <br /> Vice-President <br /> Secretary <br /> Treasurer <br /> Assistant Treasurer <br /> The President shall be the chief presiding officer of the Board and shall have such other <br /> responsibilities as may be required by law or conferred on the President by resolution of the <br /> Board. In the absence of the President, the Vice-President shall assume all of said <br /> responsibilities of the President. The offices of President, Treasurer, and Secretary shall be <br /> elected annually, as required by law. The Secretary shall act as the chief recording officer for the <br /> Board and shall maintain a file of minutes.of Board meetings and resolutions. <br /> In accordance with Minnesota Statutes, Section 469.096, Subdivision 8, all checks of the <br /> EDA shall be signed by the Treasurer and the Assistant Treasurer and shall to the nature of the <br /> claim for which the check is issued. As required by law,the EDA shall adopt an official seal. <br /> 3. &Vlar :Meeting, of the Board.. The 'Board's regular meetings shall be held at <br /> such times as the Boud:ima�y designate. <br /> 41 <br />