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4.04. The EDA inay cooperate with or act as agent for the federal or state government or a state public body, or an agency or instrumentality of a government or other public body to carry out the powers granted it by the EDA Act or any other related federal, state, or local law in the area of econoinic development district improvement. 4.05. The EDA may annually develop and present an economic developinent strategy and present it to the City Council for consideration and approval. 4.06. The EDA may join an official, industrial, commercial, or trade association or other organization concerned with such purposes, hold reception of officials who may contribute to advancing the City and its economic development, and carry out other appropriate public relations activities to promote the city and its econoinic developinent. 4.07. The EDA may perform such other duties which may be lawfully assigned to it by the City. A11 city employees shall, upon request and within a reasonable time, furnish the EDA or its employees or agents such available records or information as may be required in its worlc. The EDA or its employees or agents may, in the performance of official duties, enter upon lands and malce examinations or surveys in the sa.ine manner as other authorized City agents or employees and shall have such other powers as are required for the performance of official fiinctions in carrying out the purposes of this resolution. Section 5. Limitations of Power. 5.01. 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 accozdance with City policies, ordinances, and resolutions and the City charter. (c) Development and redevelopment actions of the EDA must be in conformity to 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 laws. (e) Except when previously pledged by the EDA, the City Council inay, by resolution, require the EDA to transfer any portion of the reserves generated by activities of the EDA that the City Council determines are not necessary for the successful operation of the EDA to the debt service funds of the city to be used solely to reduce tax levies for bonded indebtedness of the City. 0