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<br />08/08/2005 09:38 <br /> <br />5123375572 <br /> <br />BURSTEIN LAI,1,I FIRf...l <br /> <br />PAGE 03 <br /> <br />RESOLUTION NO. 36.79_ <br /> <br />CITY OF BURNSVILLE <br />DAKOTA COONIY, MINNESOTA <br />RESOLUTION ENABLING THE CREATION OF <br />AN ECONOMIC DEVELOPMENT AUTHORITY <br />IN THE CITY OF BURNSVILLE, MINNESOTA <br /> <br />BE IT RESOLVED by the City Council/County Commissioners of the City of Bumsville, <br />Minnesota (City) as follows: <br /> <br />Section I.. BackgrolUld:_.Eindings. <br /> <br />1.01. The City is authorized by Minnesota Statutes.. Chapter 469 (Act) to establish an <br />Economic Development Authority (EDA) to coordinate and administer economic development and <br />redevelopment plans and programs ofthe City. <br /> <br />1.02. It is found and determined by the City COlillCil/County Commissioners that the <br />encouragement and financial support of economic development and redevelopment in the City is <br />vital to the orderly development and financing of the City and in the best interests of the health, <br />safety, prosperity and general welfare of the citizens of the City. <br /> <br />1.03. It is further found and determined that the economic development and redevelopment <br />ofthc City can best be accomplished by the establishment of an EDA as authorized by the Act. <br /> <br />1.04. The City Council/County Commjssioners has in accordance with the Act provided <br />publie notice and conducted a public hearing on August 5, 1991 concerning the establishing of an <br />EDA at which all persons wishing to be heard express cd their views. <br /> <br />Section 2. Enabling ResolutioJJ. <br /> <br />2.01. The Economic Development Authority of the City of Bumsville (EDA) is hereby <br />established. <br /> <br />2.02. The EDA consists of a governing body of five commissioners who shall be members <br />of the City COlillcil/County Commissioners and scrve as Commissioners of the EDA for terms <br />coinciding with their terms as members of the City Council/County Commissioners. The EDA has <br />all the powers and duties set forth in Section 469.090 to 469.108 of the Act and other law, except as <br />limited by this resolution. <br /> <br />2.03. The following limits apply to the EDA and its operation: <br /> <br />a) The sale of bonds or other obligations of the EDA must be approved by the City <br />Council/County Commissioners. <br />