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2.0103.Limits of Powers. The following shall apply to the Economic Development Authority <br /> of the City of Ramsey and its operation: <br /> a. The sale of all bonds or other obligations'issued by the IrDA.shall be first approved by <br /> the City Council, <br /> b, The EDA shall follow the budget process for City Departments.as may be provided by <br /> the City and in-accordance with City:policies, <br /> c, Development and redevelopment plans .of the EDA shall be consistent with the City <br /> Coin,prehensive Plan and official controls implementing the Comprehensive Plan,. <br /> d. The EDA shall obtain approval of its proposed plans for development redevelopment <br /> from the City Council, <br /> SECTION 3, SUI�VI�MAR;Y <br /> The follow-ing is the official summ..aiy of Ordinance#08=03 which has:been approved by the City <br /> Council of the City of Ram.sey as .clearly informing the public .of the•intent and effect of the <br /> Ordinmice. <br /> The ordinance repeals the existing City Code Section 102 and replaces.it with a neve .Section <br /> 2;02, This section establishes an Economic Development.Authority,.summarizes its purpose, its � <br /> powers and limits of power, <br /> SECTION 4, EFFECIjVE DATE <br /> The'effective date of this Ordinance is thirty (30) days after s passage and publication, subject <br /> to City Charter Section 5.:07, <br /> � I <br /> Adopted by the Ramsey City Council the 22nd day of January, 2008, <br /> ayor c <br /> i <br /> F <br /> ATTEST: <br /> City leek- �- <br /> Inte'ocluetiotr)Dater January 8,200 <br /> Posting Dates: January g_23, 8 <br /> Adoption Date,. January 229 2008 <br /> Publication Date; February't;2008 <br /> Effeetive Dater March 3,2008 <br /> l� <br /> I ,, <br />