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Board <br />1. <br /> <br />(h) <br /> <br />Any other limitation or control as determined by the City (~ouncil and <br />adopted in the enabling resolution. <br /> <br />of Commissioners. <br /> <br />Commission Size: Pursuant to Minnesota Statutes, Section 469.095, after the <br />enabling resolution has been adopted, the board of commissioners of the Authority <br />must be appointed. The Aulhority can have a board of commissioners ranging in <br />size from three to seven members. The following table shows the membership <br />and terms of the various size boards. All commissioners are appointed by the <br />mayor and approved by the council. <br /> <br />NUMBER OF CITY COUNCIL <br />MEMBERS ON BOARD <br /> <br />INITIAL TERM OF OFFICE <br /> <br />3 1 2,4,6, YEARS <br />5 2 2,3,4,5,6 YEARS <br />7 2 1,2,3,4,5, AND <br /> 2 FOR 6 YEARS <br /> <br />After the initial term, all commissioners are appointed for six year terms. As an <br />option, the council may serve as the board of commissioners or provide for the <br />appointment of more council members to the board of commissioners than the <br />number indicated in the above chart. <br /> <br />Pursuant to Minnesota Statutes, Section 469.095, subd. 3, the board of <br />commissioners may be increased in size. in order to increase the board's size, <br />the City Council must modify the enabling resolution. <br /> <br />Compensation and Reimbursement: Minnesota Statutes, Section 469.095, <br />subd. 4, provides that the board of commissioners shall be compensated for <br />attending each regular or special meeting of the Authority. The City Council shall <br />determine the amount of compensation. The commissioners may also be <br />reimbursed for expenses incurred when doing official Authority business. <br />Compensation and reimbursement are to be paid from the Authority's budget. <br /> <br />Bylaws, Rules, Seal: Pursuant to Minnesota Statutes Section 469.096, subd. <br />1, an authority may adopt bylaws and rules of procedure and shall adopt an <br />official seal. <br /> <br />Officers: Pursuant to Minnesota Statutes, Section 469.096, subd. 2, an <br />Authority shall elect a president, vice president, treasurer, secretary and an <br />assistant treasurer. The president, treasurer and secretary shall be elected <br />annually. The secretary and assistant treasurer do not have to be commissioners. <br />Although a commissioner cannot serve as president and vice president <br />concurrently, other offices of the Authority may be held by the same <br />commissioner. <br /> <br />Treasurer's Bond. Pursuant to Minnesota Statutes, Section 469.096, subd. <br />6, the treasurer of an Authority must give bond to the state for the faithful <br />discharge of the treasurer's official duties. The bond must be approved by the <br />Authority and filed with the secretary of the Authority. The amount of the bond <br />must be for twice the amount of money likely to be on hand at any given time but <br />not exceeding $300,000. <br /> <br /> <br />