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10.10 ECONOMIC DEVELOPMENT COMMLqSION 10.101 Establishment of Commission. An Economic Development Commission for the City of Ramsey is hereby established. The Commission shall be the City's Development Commission. 10.102 Purpose. The purpose of the Commission will be to further the economic development of Ramsey and vicinity; to aid, assist and promote the growth, expansion and development of business and industrial concerns, including small business concerns in said area and thereby to contribute to the economic well-being of the area as measured by increased employment, payroll, business volume, tax base and corresponding factors. 10.103 Composition. Subdivision 1. The Commission shall consist of nine members who shall be appointed by the City Council and may be removed by a majority vote of the Council. Sub& 2. Members of the Commission shall be appointed to terms of three years. Appointees shall hold their offices until their successors are appointed and qualified. Vacancies during the term shall be filled by the Council for the unexpired portion of the term. Every appointed member shall, before entering upon the discharge of his duties, take an oath that he will faithfully discharge the duties of his office. All members shall serve without compensation. Commission members may be reimbursed for their necessary expenses incurred as a result of being a Commission member. Members should have an interest in the economic development of the City of Ramsey and surrounding area, but do not have to be a resident of Ramsey. 10.104 Organizations, meetings, etc. Subdivision 1. The Commission shall elect a chairman from among its appointed members for a term of one year and each year thereafter. The Commission shall elect at its first meeting a vice chairman for a term of one year and each year thereafter.The Commission may create and fill such other offices as it may determine and create sub-committees as it deems necessary to accomplish its purpose. Sub& 2. The Commission shall hold at least one regular meeting each month at a time and place as agreed upon by its members. It shall follow Robert's Rules of Order as revise, 2nd Edition, for the transaction of business and shall keep a record of its resolutions, transactions, and findings, which record shall be a public record. Said record shall be transmitted to the City Council for its review on a monthly basis. On or before January first of each year, the Commission shall submit to the City Council a report of its work during the preceding year. Expenditures of the Commission shall be within amounts appropriated for that purpose by the City Council. Subd. 3. Any member missing three of more meetings in any given year shall be cause for the City Council to review with the member his status on the Commission and the City Council shall then make a determination as to whether or not he should continue to serve on the Commission. 10.105 Responsibilities of the commission. The Commission shall have as its number one priority goal the economic development of Ramsey and vicinity. In order to accomplish this goal, the Commission shall advise the City Council on actions it deems appropriate. The Commission shall: Subdivision 1. Review state legislation and local ordinances in order to determine these regulations' impact of local economic development; Subd. 2. Explore conventional and alternative methods of finance for commercial and