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469 2015 Minnesota Statutes Page 5 of 15 <br /> F <br /> Subd,3. Duties and powers. The officers have the usual duties and powers of their <br /> offices.They may be given other duties and powers by the authority. <br /> Subd.4. Treasurer's duties. The treasurer: <br /> (1)shall receive and is responsible for authority money; <br /> (2) is responsible for the acts of the assistant treasurer; <br /> (3)shall disburse authority money by check only; <br /> (4)shall keep an account of the source of all receipts, and the nature,purpose,and <br /> authority of all disbursements;and <br /> (5)shall file the authority's detailed financial statement with its secretary at least once <br /> a year at times set by the authority. <br /> Subd. 5. Assistant treasurer. The assistant treasurer has the powers and duties of <br /> the treasurer if the treasurer is absent or disabled. <br /> Subd.6. Treasurer's bond. The treasurer shall give bond to the state conditioned <br /> for the faithful discharge of official duties.The bond must be approved as to form and <br /> surety by the authority and filed with the secretary.The bond must be for twice the amount <br /> of money likely to be on hand at any one time, as determined at least annually by the <br /> authority provided that the bond must not exceed$300,000. <br /> Subd.7. Public money. Authority money is public money. <br /> Subd. 8. Checks. An authority check must be signed by the treasurer and one other <br /> officer named by the authority in a resolution.The check must state the name of the payee <br /> and the nature of the claim that the check is issued for. <br /> Subd. 9. Financial statement. The authority's detailed financial statement must <br /> show all receipts and disbursements,their nature,the money on hand,the purposes to <br /> which the money on hand is to be applied,the authority's credits and assets,and its <br /> outstanding liabilities in a form required for the city's financial statements.The authority <br /> shall examine the statement together with the treasurer's vouchers. If the authority finds <br /> that the statement and vouchers are correct, it shall approve them by resolution and enter <br /> the resolution in its records. <br /> History: 1987 c 291 s 97 <br /> 469.097 EMPLOYEES; SERVICES; SUPPLIES. <br /> Subdivision 1. Employees. An economic development authority may employ an <br /> executive director,a chief engineer,other technical experts and agents, and other <br /> employees as it may require,and determine their duties,qualifications, and compensation. <br /> Subd.2. Contract for services. The authority may contract for the services of <br /> consultants,agents,public accountants,and other persons needed to perform its duties and <br /> exercise its powers. <br /> Subd. 3. Legal services. The authority may use the services of the city attorney or <br /> hire a general counsel for its legal needs.The city attorney or general counsel,as <br /> determined by the authority,is its chief legal advisor. <br /> Subd.4. Supplies. The authority may purchase the supplies and materials it needs to <br /> carry out sections 469.090 to 469.108. <br /> Subd. 5. City purchasing. An authority may use the facilities of its city's <br /> purchasing department in connection with construction work and to purchase equipment, <br /> supplies,or materials. <br /> Subd. 6. City facilities,services. A city may tarnish offices,structures and space, <br /> and stenographic,clerical,engineering, or other assistance to its authority. <br /> Subd.7. Delegation power. The authority may delegate to one or more of its agents <br /> or employees powers or duties as it may deem proper. <br /> https://www.revisor.mn.gov/statutes/?id=469&view--chapter <br /> 7/7/2016 <br />