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CHAPTER 15 The tTeasurer of a port authority must be bonded. to faithfully perform these duties: • Receive and. be responsible for port authority money. • Be responsible for the acts of the assistant treasurer, if appointed.. • Disburse port authority money by check or electronic procedures. • Keep an account of the source of all receipts, and. the nature, purpose, and. authority of all disbursements. • File the authority's detailed. financial statement with its secretary at least once a year at times set by the authority. Minn. Stat. § 469.051, ubd. 9. The port authority's annual detailed. financial statement must show all receipts and. disbursements, their nature, the money on hand., the purposes to which the money on hand. is to be applied., the authority's credits and. assets, and. its outstanding liabilities. The authority must examine the statement together with the treasurer's vouchers. If the authority find.s the statement and. vouchers correct, it shall approve them by resolution and. record. the resolution. Minn. Stat. §§ 4 9.048-4 9.068. State law governs many other aspects of port authorities, inclu.d.ing but not limited. to u.se of city property by a port authority, employees, contracts, and. audits. The city attorney also acts as the port authority's attorney. R City development districts Minn. Stat. § § 469.124 to Any home rule charter or statutory city may designate development districts 4 .1 4. within the boundaries of the city. Within these districts, cities may: 0 Adopt a development program to acquire, construct, reconstruct, mprove, alter, extend., operate, maintain or promote developments i aimed. at improving the physical facilities, quality of life, and. quality of transportation. HANDBOOK FOR MINNESOTA CITIES 15:11 This chapter last revised 12/2010 E. a n ici paI or area redevelopmen�t agencies Minn. Stat. § § 469.109 to Any rural municipality or group of municipalities may establish a public 469. 123. body, known as a municipal or area redevelopment agency, in and. for the area the municipality covers. This law defines municipalities as home rule charter or statutory cities, counties, towns or school districts. Minn. Stat. § 469. 110, ubd. 11. The law inclu.des only rural areas, which generally means all areas that are Minn.stet. § 4 .111. not within the boundary of any city having a population of 50,000 or more, and. not immediately aqjacent to urbanized. and. urbanizing areas with a population density of more than 100 persons per square mile or areas with an unemployment rate of 6 percent or more. The restrictions limit applicability of the law to rural areas and. to the Iron Ran, e. Minn. Stat. § 469. 111. The establishment of the municipal or area redevelopment agency is similar Minn. Stat. § 469. 115. to the establishment of an HR A. A municipal or area redevelopment agency has similar powers to an HRA. R City development districts Minn. Stat. § § 469.124 to Any home rule charter or statutory city may designate development districts 4 .1 4. within the boundaries of the city. Within these districts, cities may: 0 Adopt a development program to acquire, construct, reconstruct, mprove, alter, extend., operate, maintain or promote developments i aimed. at improving the physical facilities, quality of life, and. quality of transportation. HANDBOOK FOR MINNESOTA CITIES 15:11 This chapter last revised 12/2010