2005-02-23 CC Packet - Laserfiche WebLink

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immediately be reinstated. If a Commissioner is removed, a record of the proceeding, together with the charges and findings sha1l be filed in the office of the City Administrator. 4. Officers. The Authority shall elect a president, vice president and treasurer from among the Commissioners each ofwbich shall perform the duties of said office in the manner specified in the Act. The Authority shall elect the president, vice president, and secretary annually. A member may not serve as president and vice president at the same time. The other offices may be held by the same officer. The offices of secretary and assistant treasurer shall be assigned to the executive director, or in the event that such position is vacant may be assigned to any individual, whether a Commissioner or not 5. Treasurers Bond The treasurer shall give bond to the State conditioned for the faithful discharge of official duties. The bond must be approved as to form and surety by the Authority and filed with the secretary. The bond must be for twice the amount of money likely to be on hand at anyone time, as determined at least annually by the Authority provided that the bond must not exceed $300,000.00. 6. AdQption ofBv-Laws. The Authority shall adopt by-laws (the "Bylaws") to govern its procedures and for the transaction of its business and shall be required to have the Bylaws and any amendments thereto by the City Council. The Authority shall keep a record of attendance at its meetings and of resolutions, transactions, findings and determinations showing the vote of each member on each question requiring a vote, or if absent or abstaining from voting, indicating such filet. The records of the Authority shall be a public record except for those items classified by law as non-public data. The Authority shall adopt an official seal. 7. Emolovrnent Staff. Within limits set within the Bylaws, by appropriations or other funds made available, the Authority may employ an executive director, chief engineer, technicians and experts and other employees as it may require and may determine their duties, qualifications and compensation Members of the Authority shall be reimbursed for necessary travel and other expenses while on official business of the Authority. 8. Aporooriations. Fees. and Other Income. The City Council shall make available to the Authority such appropriations as deemed fit for salaries, fees and expenses necessary in the conduct of its work. The Authority shall be responsible for the payment of the salary of its executive director, any chief engineer or other staff employed by the Authority and such fees and expenses as are necessary to conduct its work. The Authority shall have the power to expend all budgeted sums so appropriated and recommend the expenditure of other sums made available to it for its use from grants, gifts and other sources for the purposes and activities authorized by this resolution However, except when previously pledged by the authority, the City Council may by resolution . require the Authority to transfer any part of its reserves generated by activities of the Authority that the City Council determines is not necessary for the successful operation of the Authority to the debt service fund of the City, to be used solely to reduce tax levies for bonded indebtedness of the City. 9. Functions. Powers. and Duties. Except as specifically limited by this Resolution, the Authority shall have all the authority granted it pursuant to the Act including, in general, but not limited to the following: a The authority may contract for services of consultants, agents, public accountants, and other persons needed to perform its duties and exercise its powers. Page 2 of 4