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~.. . . . -....--' c CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 93-075 ENABLING RESOLUTION ESTABLISHING AN ECONOMIC DEVELOPMENT AUTHORITY UNDER MINNESOTA STATUTES, SECTIONS 469.090 TO 469.108. WHEREAS, Minnesota statutes, Section 469.090 to 469.108, authorizes cities to establish Economic Development Authorities ("EDA") with specified powers and obligations to promote and to provide incentives for economic development; and WHEREAS, the City Council of the City of New Brighton, Minnesota (the "City") has determined that it is in its best interests to establish an EDA in order to preserve and create jobs, enhance its tax base and promote the general welfare of the people of the City and to provide for development activities within the City; and WHEREAS, the City has provided public notice and conducted a public hearing on June 7, 1993 concerning the establishment of an EDA and has fulfilled all other legal requirements for the establishment of an EDA. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF NEW BRIGHTON: 1. An EDA with all of the powers, rights, duties and obligations as set forth in Minnesota Statutes, Sections 469.090 to 469.108, and other law is hereby established in and for the City. 2. The EDA shall be governed by a board of five (5) commissioners who shall be the members of the City Council and elected and qualified in the same manner as the members of the City Council. 3. The City Manager of the City shall act as the executive director of the EDA. 4. Nothing shall prevent the City from modifying this enabling resolution to impose limits on the powers of the EDA or provide for other matters as authorized by Minnesota statutes, Sections 469.090 to 469.108 or other law. 1