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2.02. The EDA shall adopt rules and procedures not inconsistent with the <br />provisions of this Enabling Resolution or as provided in Section 469.096 of the Enabling <br />Act, and as may be necessary for the proper execution and conduct of its business. The <br />EDA shall adopt bylaws and niles to govern its procedures and for the transaction of its <br />business and shall keep a record of attendance at its meetings and/or resolutions, <br />transactions, findings, and determinations showing the vote of each member on each <br />question requiring a vote, or if absent or abstaining from voting, indicating such fact. The <br />records of the EDA shall be a public record, except for those items classified by law as <br />nonpublic data. <br />2.03. The EDA shall meet at least annually. Special meetings may be called by <br />the president as needed. <br />2.04. All administrative procedures, including contract for services, purchases <br />of supplies, and financial transactions and duties, shall be outlined in the bylaws of the <br />EDA. <br />2.05 All meetings of the EDA shall be subject to the state open meeting law <br />and any requirements for broadcast and recording contained in the city council rules of <br />procedure. <br />Section 3. Staff. <br />3.01. The City Manager shall be designated as Executive Director of the EDA, <br />and shall not receive any additional compensation for such. <br />3.02. Subject to limits set by the appropriations or other funds made available, <br />the EDA may employ such staff, technicians, and experts as may be deemed proper, and <br />may incur such other expenses as may be necessary and proper for the conduct of its <br />affairs. <br />Section 4. Functions, Powers, and Duties. <br />4.01. Except as specifically limited by the provisions of Section 6 of this <br />Enabling Resolution, the EDA shall have the authority granted it pursuant to the EDA <br />Act. <br />4,02. The EDA may be a limited partner in a partnership whose purpose is <br />consistent with the EDA's purpose. <br />4.03. The EDA may issue general obligation bonds and revenue bonds when <br />authorized by the City Council and pledge as security for the bonds the full faith, credit, <br />and resources of the City or such revenues as may be generated by projects undertaken by <br />the EDA. <br />3 <br />