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City Council Resolution 2007-86CITY OF MONTICELLO RESOLUTION NO. 2007 -86 AMENDED AND RESTATED RESOLUTION ENABLING THE CREATION OF THE CITY OF MONTICELLO ECONOMIC DEVELOPMENT AUTHORITY; SUPERCEDING ORDINANCE NO. 172 BE IT RESOLVED By the City Council of the City of Monticello, Minnesota ( "City'} as follows: Section 1. Back=und and Findings 1.01. The City is authorized by Minnesota Statutes, Sections 469.090 to 469.1081 (the "EDA .Act ") to establish an economic development authority to coordinate and administer economic development and redevelopment plans and programs for the City, and is authorized by Minnesota Statutes, Sections 469.001 to 469.047 (the "HRA Act') to establish a housing and redevelopment authority to coordinate and administer housing and redevelopment plans and programs for the City. 1.02. By a resolution approved November 30, 1970, the City established the Housing and Redevelopment Authority in and for the City of Monticello (the "HRA'), for the purpose of coordinating and administering housing and redevelopment projects and activities in and for the City. 1.03. By Ordinance No. 172, approved April 10, 1989 and codified in the City Code as Title U, Chapter 3 (the "Enabling Ordinance % the City established the City of Monticello Economic Development Authority ("EDA"), for the purpose of coordinating and administering economic development activities in and for the City. 1.04. By resolution approved on the date hereof (the "Allocation Resolution'D, the City transferred to the EDA the control, authority and operation of all projects administered by the .Housing and Redevelopment Authority in and for the City of Monticello ( "HRA'D. 1.06. The City Council has fiuther determined to adopt an Amended and Restated Enabling Resolution in order to conform the powers of the EDA to the Allocation Resolution. 1.06. The City Council has in accordance with Minnesota Statutes Section 469.093, provided public notice and conducted a public hearing on the date hereof, at which all persons wishing to be heard were given an opportunity to express their views, concerning the modification of powers of the EDA. 1.07. This resolution constitutes an amendment and restatement of the original Enabling Ordinance, incorporating the transfer of HRA powers to the EDA in accordance with the Allocation Resolution. Section 2. Enabhu Authori bL 321892v2 MNd MN190 -130 1 2.01. The EDA was established under the Enabling Ordinance as adopted April 10, 1989 and codified as Title 11, Chapter 3 of the City Code. 2.02. The Economic Development Authority shall be composed of 7 members to be appointed by the Mayor and confirmed by the City Council. 2.03. Two of the members shall be members of the City Council. The terms of office of the two members of the City Council shall coincide with their remaining terms of office as members of the City Council. 2.04. The remaining five (5) members shall be initially appointed for terms other than the terms being served by a member of the City Council. Those initially appointed, including Council members serving on the EDA, shall serve for terms of one, two, three, four, and five years respectively and two members for six years. If the two Council members appointed to the EDA have Council terms that coincide, then their terms of service on the EDA shall also coincide. Thereafter, all commissioners shall be appointed for six-year terms, except that any person appointed to fill a vacancy occurring prior to the expiration of the tern which his/her predecessor has been appointed shall be appointed only for the remainder of such term. Upon the expiration of his/her term of office, the member shall continue to serve until his/her successor is appointed. 2,05. At least three of the members who are not members of the City Council shall be residents of the City, and not more than two of the members who are not members of the City Council may be nonresidents of the City, provided that such members own a business and own property in the City. 2.06. AU members shall serve at the pleasure of the City Council. Vacancies shall be filled by appointment by the Mayor with the confirmation of the City Council. 2.07. A commissioner may be removed by the City Council for inefficiency, neglect of duty, or misconduct in office. A commissioner shall be removed only after a hearing. A copy of the charges must be given to the commissioner at least 10 days before the hearing. The commissioner must be given an opportunity to be heard in person or by the counsel at the hearing. When written charges have been submitted against the commissioner, the City Council may temporarily suspend the commissioner. If the City Council finds that those charges have not been substantiated, the commissioner shall be immediately Yeinstateu. If a commissioner is mmoved, a record of &e proceedings together with the charges and findings shall be filed in the office of the City Administrator. 2.08. The City Council shall make available to the EDA such appropriations as it deems fit for salaries, fees, and expenses necessary in the conduct of its work. The EDA shall have authority to expend all budgeted sutras so appropriated and recommend the expenditures of other sums made available for its use from grants, gifts, and other sources for the purposes and activities authorized by this resolution. Section 3. Officers and Meetings. 3.01. The EDA shall elect a president, vice president, treasurer, assistant treasurer, and secretary annually. A member must not serve as president and vice president at the same time. The 321892v2 MM MN190 -130 2 other offices may be held by the same member, The other offices of the secretary and assistant treasurer need not be held by a member. 3.02. The EDA shall adopt rules and procedures not inconsistent with the provisions of this Enabling Resolution or as provided in Minnesota Statutes, Section 469.096, and as may be necessary for the proper execution and conduct of its business. The EDA shall adopt bylaws and rules to govern its procedures and for the transaction of its business and shall keep a record of attendance at its meetings and/or resolutions, transactions, findings, and determinations showing the vote of each member on each question requiring a vote, or if absent or abstaining from voting, indicating such fact. The records of the EDA shall be a public record, except fnr those items classified by law as nonpublic data. 3.03. The EDA shall meet at least quarterly. Special meetings may be called by the president as needed. 3.04. All administrative procedures, including contract for services, purchases of supplies, and financial transactions and duties shall be outlined in the bylaws of the EDA. Section 4. Staff. 4.01. The Economic Development Director shall be designated as Executive Director of the EDA. 4.02. Subject to limits set by the appropriations or other funds made available, the EDA may employ such staff, technicians, and experts as may be deemed proper, and may incur such other expenses as may be necessary and proper for the conduct of its affairs. Section 5. Functions. Powers, and Duties. 5.01. Except as specifically limited by the provisions of Section 6 of this Enabling Resolution, the EDA shall have the authority granted it pursuant to the EDA Act. 5.02. The EDA shall manage the Greater Monticello Enterprise Fund (the "Fund ") the purpose of which is to encourage economic development by making loans to private businesses. 'I ale EDA shall make loans to eligible businesses, and such loans) shall serve a public purpose as defined in the Greater Monticello Enterprise Fund Guidelines (Fund Guidelines). The Fund Guidelines are hereby adopted by reference and included in the bylaws of the EDA. No changes to the fund Guidelines shall be made without approval of the City Council. 5.03. The EDA may be a limited partner in a partnership whose purpose is consistent with the EDA's purpose. 5.04. The EDA may issue general obligation bonds and revenue bonds when authorized by the City Council and pledge as security for the bonds the full faith, credit, and resources of the City or such revenues as may be generated by projects undertaken by the EDA. 5.05. The EDA may 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 321892v2 MN1 MN190 -130 3 carry out the powers granted it by the EDA Act or any other related federal, state, or local law in the area of economic development district improvement. 5.06. The EDA may annually develop and present an economic development strategy and present it to the City Council for consideration and approval. 5.07. 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 economic development. 5.08. The EDA may perform such other duties which may be lawfully assigned to it by the City. All city employees shall, upon request and within a reasonable time, furnish the FDA or its employees or agents such available records or information as may be required in its work. The EDA or its employees or agents may, in the performance of official duties, enter upon lands and make examinations or surveys in the same manner as other authorized City agents or employees and shall have such other powers as are required for the performance of official fimetions in carrying out the purposes of this resolution. Section 6. Limitations of Power. 6.01. 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 accordance 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 mast 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 may, 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 fimds of the city to be used solely to reduce tax levies for bonded indebtedness of the Laity. ( rij The administrative structure and management practices and policies of the EDA must be approved by the City Council. (g) The EDA shall submit all planned activities for influencing the action of any other governmental agency, subdivision, or body to the City Council for approval. 321892W1 MNI MN190-130 4 6.02. Except as limited by the Allocation Resolution, the EDA may exercise all the powers under the EDA Act, including, but not limited to, the following: (a) all powers under the HRA Act other than those allocated to the HRA under the Allocation Resolution. (b) all powers of a city under Minnesota Statutes, Section 469.124 to 469.134. (c) all powers and duties of a redevelopment agency under Minnesota Statutes, Sections 469.152 to 469.165 for a purpose in the HRA Act or the EDA Act, and all powers and duties in the HRA Act and the EDA Act for a purpose in Minnesota Statutes, Sections 469.152 to 469.165. (d) the authority to acquire property, exercise the right of eminent domain; make contracts for the purpose of redevelopment and economic development, serve as a limited Partner in a partnership whose purpose is consistent with the EDA's purpose; buy supplies and materials needed to carry out development within the EDA Act; and operate and maintain public parldng facilities. (e) the authority to issue bonds in accordance with the EDA Act and the HRA Act. (f) the authority to levy special benefit taxes in accordance with Section 469.033, subdivision 6 of the HRA Act in order to pay or finance public redevelopment costs (as defined in the HRA Act), subject to approval by the City Council in accordance with Section 469.033, subdivision 6. (g) all powers under Minnesota Statutes, Sections 469.474 to 469.179, including without limitation the power to establish a housing district as defined in Section 469.174, subdivision 11. 6.03. As provided in the EDA Act, it is the intention of the City Council that nothing in this resolution nor any activities of the EDA are to be construed to impair the obligations of the City or HRA under any of their contracts or to affe% -In any detrimental manner is rights and privileges of a holder of a bond or other obligation heretofore issued by the City, the EDA or the HRA. Section 7. lin lementation. 7.01. The City Council will from time to time and at the appropriate time adopt such ordinances and resolutions as are required and permitted by the EDA Act to give foil effect to this resolution. 7.02. Tile Mayor, the City Administrator, and other appropriate City officials are authorized and directed to take the actions and execute and deliver the documents necessary to give full effect to this resolution. 7.03. Nothing in this resolution is intended to prevent the City from modifying this 321892x2 MM MN190 -130 5 Enabling Resolution or the Allocation Resolution to impose new or different limitations on the EDA as authorized by the EDA Act. Approved by the City Council of the City of Monticello on this 22" d day of October 2007. Mayor ATTEST: f 321Mv2 MN[ MNIW130