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1992 Original EDA Bylaws ResolutionsSECTION NUMBER DOCUMENT EXECUTED 1 EDA enabling resolution yes 2 EDA organizing resolution with amendment and bylaws yes 3 Resolution setting salary for Commissioners yes 4 EDA resolution accepting Redevelopment Plan yes 5 Planning Commission resolution accepting plan yes 6 Redevelopment Plan yes 7 City Council Resolution accepting plan yes 8 Resolution authorizing execution and delivery of a lease with option to purchase no 9 Bonding resolution no 10 Lease no 11 Certification of City no 12 Certification of EDA no 13 Certificate of bond registrar no 14 Certificate of purchaser no 15 County Auditors Certificate as to registration no 16 EDA non -arbitrage certificate no 17 Sample bonding attorney letter no 18 Sample city Attorney letter no 19 Treasurers receipt for bonds no 20 Form 8038-G no 21 UCC-i (optional, for equipment) no { CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO* 92- RESOLUTION ESTABLISHING AN ECONOMIC DEVELOPMENT AUTHORITY FOR THE CITY OF OTSEGO THE 14TH DAY OF SpptT embo� 1992 WHEREAS, the City Council of the City of Otsego recognizes the need for economic development within the City; and WHEREAS, the City Council of Otsego desires .to encourage, attract, promote and develop economically sound industry and commerce within the City; and WHEREAS, such economic development will enhance the community and the economic welfare of the citizens of the City of Otsego; and WHEREAS, the above said economic development requires the encouragement of the City and assistance in making suitable land available for development; and WHEREASthe above said economic development requires control by , the City to prevent conflicts with the City of Otsego Comprehensive Plan and the desired orderly development of the City; and WHEREASthe establishment of an economic development authority , will promote and enhance the above said economic development; and WHEREAS, a notice of public hearing to consider the need for an economic development authority was duly published in the Elk River Star News once a week for two weeks on eptem er 9, 1992 and S-eptomhar 16, '99i and WHEREAS, a public hearing was held on cept- 14 19 and all concerned members of the public were heard; and WHEREAS, the City Council has considered the comments made at the hearing and the facts presented there; NOW, THEREFORE, BE IT RESOLVED that the Otsego City Council hereby establishes an Economic Development Authority to be known as the Otsego Economic Development Authority, The Otsego Economic Development Authority shall be established in the form and shall and operate with the powers established in the attached document titled "Governing Resolution, City of Otsego Economic Development Authority" and that said document is incorporated herein and made part of this resolution. By order of the City Council of the City of Otsego. CITY OF OTSEGO Norman Freske, Mayor AT ST: I 7; bm_e Perrault, City Clerk GOVERNING RESOLUTION, CITY OF OTSEGO ECONOMIC DEVELOPMENT AUTHORITY 1. Authority to Establish, Governing Law: a. The City of Otsego Economic Development Authority (hereinafter the "Authority") is established under the authority of Minnesota Statutes 469.090 through 469.1081, as amended, and the organization, powers and activities of the Authority shall be governed by those said statutes and this resolution. 2. Commission Size Appointmentl Compensation and Removal of commissioners* a. Size: The Authority Commission shall consist of the members of the serving City Council. b. Terms and Appointment of Commissioners: The members of the Commission shall serve as Commissioners during their regularly elected term of -office as a member of the Otsego City Council. c. Increase in Commission Members: The Authority Commission may be increased in number from five to seven members by a resolution adopted by the City Council following the same procedure used to pass this resolution or that prescribed by Minnesota Statute 469.095, Subdivision 3, as amended. d. Compensation and Reimbursement: Commissioners, including the President, shall be paid for attending each regular or special meeting of the Authority in an amount to be set by resolution of the City Council. In addition to the said payment for attending regular and special meeting Commissioners shall be reimbursed for actual expenses incurred in doing official business of the Authority. All money paid for compensation or reimbursement shall be drawn form -the Authority's budget. e. Removal for Cause: A Commissioner may be removed by the City Council for inefficiency, neglect of duty or misconduct in office. Such removal shall be preceded by a hearing wherein the Commissioner charged shall be given an opportunity to be heard in person or by counsel. The Commissioner charged shall be provided a written copy of the charges at least ten days before any hearing. If written charges are submitted against a Commissioner the City Council may temporarily suspend the said Commissioner. When any Commissioner is removed for cause a record of the proceedings of the hearing shall be filed in the office of the City Clerk together with the charges and findings of fact. 3. Authority Officers Duties and Organizational Matters: a. The Authority shall adopt bylaws, rules of procedure and an official seal. b. Officers Required: The Authority shall elect a president, vice president, secretary, treasurer and an assistant treasurer. The president, treasurer and secretary shall be elected on an annual basis. The office of president and vice-president shall not be held by the same Commissioner, the other offices may be held by the same Commissioner. The offices of secretary and assistant treasurer need not be held by a Commissioner. c. Duties and Powers of Officers: i. The officers shall have the usual duties and powers of their offices. They may be granted other duties and powers by resolution of the Authority. ii. Treasurers Duties: The treasurer: (1) shall receive, and is responsible for, all Authority monies; (2) is responsible for the acts of the assistant treasurer; (3) shall disburse money by check only, (4) shall keep an account of the source of all receipts, and the nature, purpose and authority of all disbursements; and (5) shall file the Authorities detailed financial statement with its secretary at least once a year at times to be set by the Authority. iii. Assistant Secretary: The assistant treasurer has the powers and duties of the treasurer if the treasurer is absent or disabled. iv. Treasurers Bond: The treasurer shall give bond to the state conditioned for the faithful discharge of official duties. The said bond shall be approved as to form and surety by resolution of the Authority and shall be for twice the amount of money likely to be on hand at any one time as determined annually by the Authority. In no case shall the bond exceed $300,000. v. Public Money: Authority money is public money. vi. Checks: All Authority checks must be signed by the treasurer and one other officer named by resolution of the Authority. The check must state the name of the payee and the nature of the claim for which the check is issued. d. Financial Statement: i. Contents: The Authority's financial statement must show all receipts and disbursement, their nature, the money on hand, the purposes to which the money on hand is to be applied, the authorities credits and assets and its outstanding liabilities in the form required for the financial statements of the City of Otsego. ii. Examination and Approval: The Authority shall examine the financial statement along with the treasurers vouchers. If the Authority finds the financial statement and vouchers are correct the Authority shall approve them by resolution and enter the said resolution in its records. 4. Emplovees, Services and Supplies: a. Emplovees: The Authority may employ an executive director, a chief engineer, other technical experts and agents and other employees as it may require and determine their duties, qualifications and compensation. b. Contracts for Services: The Authority may contract for the services of consultants, agents, public accountants and other persons needed to perform its duties and exercise its powers. c. Legal Services: The Authority shall use the services of the City Attorney and said City Attorney shall serve as its chief legal advisor. d. Supplies: The Authority may purchase the supplies and materials it needs to carry out its duties and exercise its authority as prescribed by this resolution and Minnesota Statue 469.090 to 469.108, as amended. e. City Purchasing: The Authority may use the facilities of the City of Otsego in connection with construction work and to purchase equipment, supplies or materials. f. City Facilities and Services: The City of Otsego may furnish any offices, structures and space, and stenographic, clerical, engineering or other assistance to the Authority required in the performance of its duties or the exercise of its powers. 5. Conflict of Interest: Except as authorized in Minnesota Statute 471.88 a Commissioner, officer or employee of the Authority shall not acquire any financial interest, direct or indirect, in any project or any property included or planned to be included in any project, nor shall the said party have an financial interest, direct or indirect, in any contract or proposed contract for materials or service to be furnished or used in connection with any project. 6. Depositories Default and Collateral: a. Depositories: Every two years the Authority shall name a national or state chartered bank located within the State of Minnesota as a depository. Before acting as a depository the named bank shall give the Authority a bond approved as to form and surety by the Authority. The said bond shall be conditioned for the safekeeping and prompt repayment of all deposits and shall be at least equal in amount to the maximum sums expected to be deposited at any one time. The Authority nlay deposit all funds from any source in one account. b. Liability for Deposits: When Authority funds are deposited in a bonded depository, the treasurer and the surety of the treasurer official bond are exempt from liability for the los of those said deposits because of the failure, bankruptcy or other act or default of the depository. The Authority may accept assignments of collateral from its depository to secure deposits just as assignments of collateral are permitted by law to secure deposits of the City of Otsego. 7. Obligations: a. Taxes and Assessments Prohibited: The Authority must not levy a tax or special assessment, except as otherwise provided in Minnesota Statutes 469.090 to 469.108, pledge the credit of the State of Minnesota or the City of Otsego or incur an obligation enforceable on any property not owned by the Authority. b. Budget to the City: Annually, at a time to be fixed by resolution or ordinance of the City of Otsego, the Authority shall send its budget to the Otsego City Council. The budget must include a detailed written estimate of the amount of money that the Authority expects to need from the City of Otsego to do Authority business during the next fiscal year. The needed amount shall be that amount in excess of any expected receipts from other sources. c. Fiscal Year: The fiscal year of the Authority shall be the same as the fiscal year of the City of Otsego. d. Annual Report: Annually, at a time and in the form fixed by the Otsego City Council, the Authority shall make a written report to the Otsego City Council giving a detailed account of the Authorities receipts and expenditures during the preceding calendar year together with additional matters and recommendations the Authority deems advisable for the economic development of the City of Otsego. e. Audits: The financial statements of the Authority shall be prepared, audited, filed and published or posted in the manner required for the financial statements of the City of Otsego. The Authorities financial statements shall be such form to permit comparison and reconciliation with the City of Otsego accounts and financial reports. The above said financial report shall be filed with the state auditor by June 30 of each year. The auditor shall review the Authorities financial report and may accept it or, in the public interest, audit the books of the Authority. f. Compliance Examinations: At the request of the City of Otsego, or on the state auditor's initiative, the state auditor may make a legal compliance examination of the Authority for the City of Otsego in accordance with Minnesota Statute 469,100, Subdivision 6, as amended. 8. Powers of the Authority, General obligation Bonds, Revenue Bonds a. Powers: The Authority shall have all of the powers listed and granted in Minnesota Statute 469,101, as amended. b. General Obligation Bonds: The Authority shall have the authority to issue such bonds in the amounts and by the process established by Minnesota Statute 469.102, as amended. c. Revenue Bonds: The Authority shall have the authority to issue such bonds in the amounts and by the process established by Minnesota Statute 469.103, as amended. 9. City Tax Levv: a. The City of Otsego may levy a tax in any year for the benefit of the authority. The said tax must not be more that 0.01813 percent of the taxable market value. The amount levied must be paid by the City of Otsego treasurer to the treasurer of the Authority to be spent by the Authority. b. The Authority shall request the levy of the above said tax in a manner set by the City Council. c. The City of Otsego may increase its levy for the Authority's purposes in accordance with Minnesota Statute 469.107, Subdivision 2, as amended. EDA4A 2 OTSEGO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION AMENDING THE ORGANIZING RESOLUTION Resolution No. At a meeting of the Board of Commissioners of the Economic Development Authority of the City of Otsego held on the 15th day of October 1992, at 3:00 o'clock p.m., the following Commissioners were present: Larry Fournier Norman Freske Floyd Roden Douglas Lindenfelser Ron Black Commissioner offered the following Resolution: WHEREAS, the City Council of the City of Otsego, Minnesota (the "City"), pursuant to a resolution of the City Council established the Economic Development Authority of the City of Otsego (the "Authority"); and WHEREAS, the Authority Board of Commissioners (hereinafter "Commissioners") met of October 12, 1992 for purposes of organizing; and WHEREAS, the Board elected certain officers at the said meeting; and WHEREAS, the Board has further considered the duties and functions of the officers elected, NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Otsego that the Resolution Organizing the Otsego Economic Development Authority be amended as follows: 2. Adoption of Bylaws and of Appointment of Officers. The Board hereby approves (1) the Bylaws of the EDA, as presented for the Board's consideration, and (2) appoints and approves the following officers of the EDA: President Larry Fournier Vice -President Norman Freske Secretary Jerome Perrault Ass-istant Secretary Elaine Beatty Treasurer Floyd Roden Assistant Treasurer Jim Barthel Said Resolution was duly seconded by Commissioner and put to a vote. Voting in favor were Commissioners: Larry Fournier Floyd Roden Ron Black Adopted this day of Norman Freske Douglas Lindenfelser zc;��✓ arry Fod nier,President ATTEST: jrome Perra lt, Secretary EDA5B 1992. OTSEGO ECONOMIC DEVELOPMENT AUTHORITY A RESOLUTION ORGANIZING THE OTSEGO ECONOMIC DEVELOPMENT AUTHORITY Resolution No. IT IS HEREBY RESOLVED by the Board of Commissioners (the "Board") of the Otsego Economic Development Authority (the "EDA") as follows: 1. Recitals. (a) On September 28, 1992, the City of Otsego, Minnesota (the "City"), acting through its City Council, adopted a certain enabling resolution establishing the EDA pursuant to Minnesota Statutes, Section 469,090 through 469.108. (b) The Board is meeting for the purpose of organizing the EDA. 2. Adoption of Bylaws and of Appointment of Officers. The Board hereby approves (1) the Bylaws of the EDA, as presented for the Board's consideration, and (2) appoints and approves the following officers of the EDA: President Vice -President Secretary Treasurer Assistant Treasurer Larry Fournier Norman Freske Douglas Lindenfelser Floyd Roden Ron Black The President shall be the chief presiding officer of the Board and shall have such other responsibilities as may be required by law or conferred on the President by resolution of the Board. In the absence of the President, the Vice -President shall assume all of said responsibilities of the President. The offices of President, Treasurer, and Secretary shall be elected annually, as required by law. The Secretary shall act as the chief recording officer for the Board and shall maintain a file of minutes of Board meetings and resolutions. In accordance with Minnesota Statutes, Section 469.096, Subdivision 8, all checks of the EDA shall be signed by the Treasurer and the Assistant Treasurer and shall state the nature of the claim for which the check is issued. As required by law, the EDA shall adopt an official seal. Adopted by the Board of Commissioners of the Otsego Economic Development Authority this day of , 19_ Secretary's Certificate The undersigned, being the duly appointed and acting Secretary of the Otsego Economic Development Authority, hereby certifies that a meeting of the Board of Commissioners therefor was duly called and regularly held in the Otsego City Hall on 19 and that at said meeting Commissioner moved the adoption of the foregoing resolution, relating to the organization of the Otsego Economic Development Authority, which resolution upon vote being taken thereon, the following Commissioners voted in favor thereof: and the following voted against the same: whereupon said resolution was declared duly passed and adopted. Witness my hand as the Secretary of the Otsego Economic Development Authority this day of , 19_ Secretary Otsego Economic Development Authority EDA5A BYLAWS OF THE CITY OF OTSEGO ECONOMIC DEVELOPMENT AUTHORITY ARTICLE I - THE AUTHORITY Section 1. Name of Authority. The name of the Authority shall be the " Otsego Economic Development Authority" (which may sometimes be referred to as the "EDA" or the "Authority"), and its governing body shall be called the Board of Commissioners (the "Board"). The Board shall be the body responsible for the general governance of the Authority and shall conduct its official business at meetings thereof. Section 2. Seal of Authority. The Authority shall have an official seal, as required by Minnesota Statutes, Section 469,096, Subdivision 1. The form of the seal shall be set by resolution of the Board. Section 3. Office of Authority. The offices of Authority shall be located at the City Hall of the City of Otsego, County of Wright, State of Minnesota, wherever that City Hall may be located. ARTICLE II - OFFICERS Section 1. Officers. The officers of the Authority shall be a President, a Vice -President, a Treasurer, an Assistant Treasurer, and a Secretary. The President, the Vice -President and the Treasurer shall be members of the Board and shall be elected annually at a regularly scheduled meeting of the Board at which a quorum attends. No Commissioner may be both President and Vice - President simultaneously. Section 2. President. The President shall preside at all meetings of the Board. Except as otherwise authorized by resolution of the Board, the President and the Secretary (the Vice -President, in the Secretary's absence or incapacity) shall sign all contracts, deeds, and other instruments made of executed by the Authority, except that all checks of the Authority shall be signed by the Treasurer and Assistant Treasurer. At each meeting the President shall submit such recommendations and information as he or she may consider proper concerning the business, affairs, and policies of the Authority. Section 3. Vice -President. The Vice President shall perform the duties of the -President in the absence or incapacity of the President; and in case of the resignation or death of the President, the Vice -President shall perform such duties as are I mposed on the President until such time as the Board shall select a new President. Section 4. Secretary. The Secretary shall keep minutes of all meetings of the Board and shall maintain all records of the Authority. The Secretary shall also have such additional duties and responsibilities as the Board may from timeto time and by - --..- resolution prescribe. Section 5. Treasurer, The Treasurer shall have the care and custody of all funds of the Authority and shall deposit the same in the name of the Authority in such bank or banks as the Board may select. The Treasurer and Assistant Treasurer shall sign all orders and checks for the payment of money and shall pay out and disburse such moneys under the direction of the Board. The Treasurer shall keep regular books of accounts showing receipts and expenditures and shall render to the Board, at least annually (or more often when requested), an account of such transactions and also of the financial condition of the Authority. The Assistant Treasurer shall act as the Treasurer's agent and assistant to perform the above -described duties, subject to the Treasurer's approval thereof. Section 6. Additional Duties. The officers of the Authority shall perform such other duties and functions as may from time to time be required by the Board or the bylaws or rules and regulations of the Authority. Section 7. Vacancies. Should the office of President, President, Treasurer, Treasurer, Assistant Treasurer, or Secretary become vacant, the Board shall elect a successor from its membership at the next regular meeting, or at a special meeting called for such purpose, and such election shall be for the unexpired term of the said officer. Section 8. Advisory Committee. A five (5) member Advisory Committee shall be established with the members being chosen by the Board from amongst persons qualified to advise the Board on business and economic matters. This Committee shall serve at the will of the Board. Section 9. Additional Personnel. The Board may from time to time employ such personnel as it deems necessary to exercise its powers, duties, and functions. The selection and compensation of such personnel shall be determined by the Board. ARTICLES III - MEETINGS Section 1. Regular Meetings. The Board may hold regular meetings according to a meeting schedule, if any, adopted or revised from time to time by resolution of the Board. Section 2. Special Meeting. Special meetings of the Board may be called by the President or any two members of the Board for the purpose of transacting any business designated in the call. The call for a special meeting may be delivered at any time prior to the time of the proposed meeting to each member of the Board or may be mailed to the business or home address of each member of the Board at least three (3) days prior to the date of such special meeting. At such special meeting no business shall be considered other than as designated in the call, but if at least four members of the Board are present at a special meeting, any and all businesses may be transacted at such special meeting. Notice of any special meeting shall be posted and/or published as may be required by law. Section 3. Emergency Meetings. Emergency meetings shall be held pursuant to Minnesota Statutes, Chapter 471,705, as amended. Section 4. Quorum. The powers of the Authority shall be vested in the Board. Three Commissioners shall constitute a quorum for the purpose of conducting the business and exercising the powers of the Authority and for all other purposes, but a smaller number may adjourn from time to time until a quorum is obtained. When a quorum is in attendance, action may be taken by the Board upon a vote of majority of the Commissioners present. Section 5. Order of Business. At the regular meetings of the Board the following shall be the order of business. 1.Ro11 Call. 2.Approval of the minutes of previous meetings. 3.Bills and communications. 4.Reports. 5.Unfinished business. 6.New business. 7.Adjournment. All resolutions shall be written or transcribed and shall be retained in the journal of the proceedings maintained by the Secretary. Section 6. Adoption of Resolution. Resolutions of the Board shall be deemed adopted if approved by not less than a simple majority of all Commissioners present, unless a different requirement for adoption is prescribed by law. Resolution may, but need not be, read aloud prior to vote taken thereon and may, but need not be, executed after passage. Section 7. Rules of Order. The meeting of the Board shall be governed by the most recent edition of Robert's Rules of Order. ARTICLE IV - MISCELLANEOUS Section 1. Amendments to Bylaws. The bylaws of the Authority shall be amended only by resolution approved by at least three of the members of the Board. Section 2. Fiscal Year. The fiscal year of the Authority shall coincide with the fiscal year of the City of Otsego. Dated: , 19 By the Board of Commissioners of the Otsego Economic Development Authority: President EDASC OTSEGO ECONOMIC DEVELOPMENT AUTHORITY A RESOLUTION ESTABLISHING AN OFFICIAL DEPOSITORY FOR THE AUTHORITY Resolution No. WHEREAS, the City of Otsego has established an Economic Development Authority known as The Otsego Economic Development Authority (hereinafter "Authority"); and WHEREAS, the Authority has met and passed an organizing resolution and adopted bylaws; and WHEREAS, Minnesota Statutes, Chapter 469.099 requires the Authority to establish a depository for its funds; and WHEREAS, the above said depository must be located within the State of Minnesota; and WHEREAS, the depository is required to post bond, conditioned for safekeeping and prompt repayment of deposits, for the projected maximum daily balance on deposit, and WHEREAS, the estimated maximum daily balance is ; and WHEREAS, located in the State of Minnesota and has agreed to post bond in the above said amount; NOW THEREFORE BE IT RESOLVED that ,located at shall be the depository for the Authority; and BE IT ORDERED that the Treasurer review the bond provided by and verify that it is sufficient in amount and form; and BE IT FURTHER ORDERED, that the Treasurer open one account at the depository and deposit all Authority monies in that account and use that account to make all disbursements of the Authority. Passed by the Board of Commissioners of the Otsego Economic Development Authority this day of , 19_ President Attest: Secretary EDASD OTSEGO ECONOMIC DEVELOPMENT AUTHORITY A RESOLUTION ACCEPTING THE BOND OFFERED BY THE TREASURER Resolution No. WHEREAS, the City of Otsego has established an Economic Development Authority known as The Otsego Economic Development Authority (hereinafter "Authority"); and WHEREAS, the Authority has met and passed an organizing resolution and adopted bylaws; and WHEREAS the Board of Commissioners has duly elected as the Treasurer; and WHEREAS, Minnesota Statutes, Chapter 469.096, Subdivision 6 requires the Authority Treasurer to post bond, conditioned for the faithful discharge of official duties, for twice the amount likely to be on hand, not to exceed $300,000; and WHEREAS, the Treasurer has sought bonding from in the amount of ; and WHEREAS, is registered and licensed to perform bonding in the State of Minnesota; and WHEREAS, the bond offered by the Treasurer is sufficient in amount and form to meet the statutory obligation; NOW THEREFORE BE IT RESOLVED that the bond offered by the Treasurer I n the amount of said bond to be held by is hereby accepted by the Board as a proper bond. Passed by the Board of Commissioners of the Otsego Economic Development Authority this day of 19_ President ATTEST: Secretary (= D f1 S C- CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNE50TA A RESOLUTION ESTABLISHING SALARIES FOR COMMISSIONERS OF THE OTSEGO ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, the City of Otsego has duly established an Economic Development Authority by resolution passed on the day of 1992; and WHEREAS, the Otsego Economic Development Authority must meet and establishe bylaws, a depository, a budget and address various other matters; and WHEREAS, the time required of the Commissioners in performing their duties has been considered; and WHEREAS, this Council has considered the salary level that would represent fair compensation for that time and meet the budgetary restraints of the City; NOW THEREFORE BE IT RESOLVED, that the salary for the Commissioners of the Otsego Economic Development Authority be set in the following amounts: ( 1. President: $ per meeting and all justifiable and necessary expenses incurred performing the business of the Authority. 2. Vice President: $ per meeting and all justifiable and necessary expenses incurred performing the business of the Authority. 3. Commissioners: $ per meeting and all justifiable -and necessary expenses incurred performing the business of the Authority. BE IT FURTHER RESOLVED that the Board of Commissioners of the Otsego Economic Development Authority shall set the salary to be paid to the Treasurer, Assistant Treasurer and Secretary for performance of their duties outside of regular meetings, subject to approval by the City Council. Passed this day of City Council ATTEST: Jerome Perrault, City Clerk 1992 by the Otsego Norman Freske, Mayor LDt�S�' CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA A RESOLUTION ESTABLISHING SALARIES FOR COMMISSIONERS OF THE OTSEGO ECONOMIC DEVELOPMENT AUTHORITY WHEREAS, the City of Otsego has duly established Development Authority by resolution passed on the September , 1992, and WHEREAS, the Otsego establish bylaws, a other matters; and n Economic 14TH day of Economic Development Authority must meet and depository, a budget and address various WHEREAS, the time required of the Commissioners in performing their duties has been considered, and WHEREAS, this Council has considered the salary level that would represent fair compensation for that time and meet the budgetary restraints of the City,, NOW THEREFORE BE IT RESOLVED, that the salary for the Commissioners of the Otsego Economic Development Authority be set in the following amounts: 1. President: $ 25 00 per meeting and all justifiable and necessary expenses incurred performing the business of the Authority. 2. Vice President: $ 25 00 per meeting and all justifiable and necessary expenses incurred performing the business of the Authority. 3. Commissioners: $ 25 00 per meeting and all justifiable and necessary expenses incurred performing the business of. the Authority. BE IT FURTHER RESOLVED that the Board of Commissioners of the Otsego Economic Development Authority shall set the salary to be paid to the Treasurer, Assistant Treasurer and Secretary for performance of their duties outside of regular meetings, subject to approval by the City Council. Passed -this 12thday of October , 1992 by the Otsego City Council j� �" j% k Norman Fres e, Mayor ATT ST: Norman F Freske, Mayor Je ome Perra lt, City Clerk CITY SEAL OTSEGO ECONOMIC DEVELOPMENT AUTHORITY RESOLUTION APPROVING A CERTAIN REDEVELOPMENT PLAN At a meeting of Development Authority October 1992, at 2:30 were present: Larry Fournier Floyd Roden Ron Black the Board of Commissioners of the Economic of the City of Otsego held on the 20th day of o'clock p.m., the following Commissioners Norman Freske Douglas Lindenfelser Commissioner Ron Black offered the following Resolution: WHEREAS, the City Council of the City of Otsego, Minnesota (hereinafter "City"), pursuant to a resolution of the City Council established the Economic Development Authority. of the City of Otsego (hereinafter "Authority") which has the powers contained in Minnesota Statutes, Section 469.090 to 469.108, the powers of a Housing and Redevelopment Authority under Minnesota Statutes, Section 469,001 to 469,047 or any other law, and powers of a city under Minnesota Statutes, Section 469,124 to 469.134 or any other law: and WHEREAS, it is desirable and in the public interest that the Authority, undertake and carry out a redevelopment plan pursuant to Minnesota Statutes, Section 469.001 to 469.047, encompassing the area which is indicated on Exhibit A attached hereto and made a part hereof, (hereinafter "Redevelopment Area" or "Project"), and WHEREAS, the Authority has reviewed the "Redevelopment Plan for the Otsego Community Center Project", dated October 15, 1992 (hereinafter "Plan"), which sets forth a redevelopment plan for the Redevelopment Area; and WHEREAS, the Authority is required to submit the Plan to the Otsego Planning commission for review; and WHEREAS, Minnesota Statutes, Section 469.028, Subd. 1 requires that the Authority, after determination that the Project should be undertaken, shall apply to the City for approval of said Plan; and WHEREAS, the Plan was presented to this meeting of the Authority for consideration and approval. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Otsego as follows: Section 1. That the Redevelopment Area described in the Plan is a Redevelopment Project within the meaning of Minnesota Statutes, Section 469.002, Subdivision 14. Section 2. That said Plan and Project will carry out the purpose and policy of Minnesota Statutes, Chapter 469.001 to 469.047, and Section 469.124 to 469.134. Section 3. That said Plan is all respects is approved, subject to the approval of the Otsego Planning Commission and the secretary is hereby directed to file said Plan with the minutes of this meeting. Section 4. That the plan be submitted to the Otsego Planning Commission for review. " Section 4. That application is hereby made to the City Council of the City of Otsego, subject to prior approval by the Otsego Planing Commission, for approval of said Plan and the staff of the Authority is directed to transmit a copy of the Plan, along with a copy of this resolution and the written opinion of the Planning Commission, to the City Council, Section 5. That the City Council is hereby requested to hold a public hearing on the Plan after giving published notice of the date, time, place and purpose of such hearing in a newspaper of general circulation in the City, such notice to be published at least ten days and no more than thirty days prior to the date of the hearing. Section 6. That the City Council is hereby requested to approve said Plan and Project and to find by resolution that: (A) the land in the Project area would not be made available for redevelopment without the financial aid to be sought; (B) the Plan for the Project area in the locality will afford maximum opportunity, consistent with the sound needs of the locality as a whole, for the redevelopment of such area by private enterprise; and (C) the Plan conforms to a general plan for the development of the city as a whole. Said Resolution was duly seconded by Commissioner Norm Freske and put to a vote. Voting in favor were Commissioners: Larry Fournier Floyd Roden Ron Black Norman Freske Douglas Lindenfelser Adopted this 20th day of October, 1992. arry F t nier, President ATTEST: J bme Perra lt, Secretary