Res. #06-046 - Establishing EDA - Laserfiche WebLink

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2.03. The following limits apply to the EDA and its operation: (a) The sale of bonds or other obligations of the EDA must be approved by the City Council. (b) The EDA must follow the budget process for City departments in accordance with City policies, ordinances and resolutions. (c) Development and redevelopment actions of the EDA must be in conformance with the City comprehensive plan and official controls implementing the comprehensive plan. (d) The EDA must submit its plans for development and redevelopment to the City Council for approval in accordance with City planning procedures and law. (e) The administrative structure and management practices and policies of the EDA must be approved by the City Council. 2.04. As provided in the Act it is the intention of the City Council that nothing in this resolution nor any activities of the EDA are to be construed to impair the obligations of the City under any of its contracts or to affect in any detrimental manner the rights and privileges of a holder of a bond or other obligation heretofore issued by the City. Section 3. Implementation. 3.01. The City Council will from time to time and at the appropriate time adopt such ordinances and resolutions as are required and permitted by the Act to give full effect to this resolution. 3.02. The Mayor, the Administrator, and other appropriate City officials are authorized and directed to take the actions and execute and deliver the documents necessary to give full effect to this resolution. 3.03. Nothing in this resolution is intended to prevent the City from modifying this enabling resolution to impose new or different limitations on the EDA as authorized by the Act. PASSED AND DULY ADOPTED by the City Council of the City of Centerville this 25th day of October, 2006. CITY OF CENTERVILLE '-trJ ~ ell fW2 ' Mary Capra Ayor - ~;:'~~~ Teresa Bender, City Clerk-