2005-02-23 CC Packet - Laserfiche WebLink

Home Browse Search

I~'-- BY-LAWS COLD SPRING ECONOMIC DEVELOPMENT AUTHORITY (EDA) RECITALS: 1. The City of Cold Spring (the "City") acting through its City Co1ll1cil (the "COllllcil") has, in accordance with Minn. Stat. 469 (the "Act"), adopted Resolution 2001-32 (the "Resolution'') a resolution creating an Economic Development Authority in and for the City of Cold Spring (the "EDA'') which is governed by the commissioners of the EDA (the "Commission'') made up of members selected in accordance with and serving tenus established in the Resolution; 2. It is the purpose of the EOA to encourage, attract, promote, and develop economically sound industry and commerce within the City for the prevention of 1ll1employment in the City; and 3. The Act and Section 2 of the Resolution provides for the adoption of By-Laws and rules to govern the procedures and the transaction of business by the EDA. NOW, THEREFORE, be it resolved by the Commission for the EDA as follows: ARTICLE I THE AUTHORITY OF DIRECTORS Section 1.01. General Powers. The Commission, except as otherwise provided in the Act, the Resolution, or these By-Laws, sball exercise all the powers, duties, and functions of the EDA conferred by the Resolution, the Act, these By-Laws, other state statutes, common law, court decisions, or those otherwise regarded as normal powers of governing boards. Section 1.02. Office. The principal office of the EDA sbalI be at City Hall, Cold Spring, Minnesota. Section 1.03. Resignation. Any member of the EOA may resign at anytime by giving notice to the Commission and City Council. The Council sball cause such vacancy to be filled by the EDA in the manner prescribed in the Resolution. ARTICLE II OFFICERS., ORGANIZATION AND COMMITTEES Section 2.01. Officers. The officers of the EDA shall be a President, Vice President, Treasurer, Secretary, and an Assistant Treasurer, each which sbalI perf 01111 the duties or said office in the manner specified in the Act and these By-Laws. A member of the Commission may not serve as President and Vice PresideUt at the same time. The other offices may be held by the same person. The offices of Secretary and Assistant Treasurer shall be assigned to Executive Director, or in the event that such position is vacant may be assigned to any individual, whether a Commissioner or not. Section 2.02. Election, Term of Office, and Qualifications. The President, Vice President, and Treasurer sball be elected annually by the Commission from its members and each sball hold office t1l1til the first regular meeting of the next year and until his or her successor sball have been duly elected and qualified. Section 2.03. President. The President sball preside at all meetings of the EOA. Cold Spring EDA By-Laws Page 1 of5 C:lDoc>.m:>tlaIKld.~8cttinp\T<qlI)nKJ\umltP~