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08/08/2005 09:38 5123375572 BURSTEIN LAW FIRtvl PAGE 05 RESOLUTION NO. RESOLUTION ENABLING THE CREAT.ION OF AN ECONOMIC DEVELOPMENT A UTHORI'fY IN THE CITY OF \V A TERTOWN,~INNESOT A CITY OF WATERTOWN, CARVER COUNTY, MINNESOTA Novembcr 10, 1992 BE IT RESOLVED BY THE City Council/County Commissioners OF THE CITY OF WATERTOWN, MINNESOTA (CITY) AS FOLLOWS: Section 1. Background and_Eindings. 1.01. The City is authorized by Minnesota Statutes, Chapter 469 (the Act) and specifically Section 469.091, to establish an Economic Development Authority (EDA) to coordinate and administer economic development and redevelopment plans and programs of the City of Watertown 1.02. It is found and deteti\1jned by the City Council/County Commissioners that the encouragement and financial support of economic developm.ent and redevelopment in the City is vital to the orderly development and financing of the City and in the best interests of the health, safety, prosperity and general welfare of the citizens of the City. 1.03. .Tt is further found and determined that tbc economic development and redevelopment of the City can best be accomplished by tbc establishment of an EDA as authorized by the Act. 1.04. The City Council/County Commissioners has in accordance with the Act and Section 469.093 provided public notice and conducted a public hearing on October 13, 1992, concerning the establishing of an Economic Development Authority at which hearing all persons desiring to express their views were heard. SectiOI1 2. Enabling_Resolution. 2.01. The Economic Development Authority ofthe City of Watertown, Minnesota (ED A) is hereby established. The EDA is a Public body corporate and politic and a political subdivision of the State of Minnesota. 2.02. The EDA shall have all the powers, duties and responsibilities sct forth in Sections 469.029 to 469.108 ofthc Act and as said Act may be amended from time to time and all other applicable laws, except as limited by this Resolution.