EDA_Res_05_Signed_01-09-2017 - Laserfiche WebLink

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WHEREAS, the Authority finds that the execution and approval of routine documents or agreements by the Executive Director as described herein will be beneficial to the affairs of the Authority and the City of Roseville. NOW, THEREFORE, BE IT RESOLVED, that based upon the foregoing, 1. The approval and execution of the routine documents and agreements on behalf of the Authority as described herein is hereby authorized and delegated to the Executive Director of the Authority. 2. The Executive Director's ability to authorize expenditures on behalf of the Authority is limited as follows: A. Approved expenditures must be for a purpose and up to the amount authorized by the Authority's adopted budget and applicable work plan. B. Expenditures cannot be approved for purposes described in the Authority's adopted budget and applicable work plan unless there is a sufficient unexpended balance. C. The Finance Director of the City shall approve such expenditure. 3. If the Executive Director approves an expenditure for any purpose not authorized in the Authority's adopted budget or for any amount in excess of the amount authorized due to his or her gross negligence or willful misconduct, the Executive Director shall not be indemnified and �any amount expended in excess of what is authorized shall be a personal obligation of the entity incurring such expenditure. 4. All documents and agreements executed by the Executive Director of the Authority pursuant to the authority delegated by this resolution shall be reported to the Board of the Authority. 5. This resolution shall be in full force and effect as of the date hereof. The motion for the adoption of the foregoing resolution was duly seconded by Member Laliberte, and upon a vote being taken thereon, the following voted in favor thereof: McGehee, Willmus, Laliberte, Etten and Roe and the following voted against the same: None WHEREUPON said resolution was declared duly passed and adopted.