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RELEVANT LINKS: <br /> The law states that the principal and interest on bonds are payable <br /> exclusively from the income and revenues of the project financed with the <br /> proceeds of the bonds, or exclusively from the income and revenues of <br /> certain designated projects,whether or not they are financed in whole or in <br /> part with the proceeds of the bonds. <br /> 8. HRA certifications to state <br /> The following documents relating to the establishment and activities of <br /> local HRAs must go to the DEED commissioner: <br /> Minn.stat.§469.003,subds. . Resolution of need. <br /> 4,6. <br /> Minn.stat.§469.003,subd. . Certificates of appointment or reappointment of HRA commissioners. <br /> 7. • Project reports. <br /> • Applications for federal assistance. <br /> • Contracts with federal agencies. <br /> • Redevelopment plans. <br /> • Low rent public housing project and management plans. <br /> Minn.stat.§469.013. In addition, annual financial reports must go to the state auditor. <br /> 9. HRA federal certification <br /> In order for a local HRA to use federal Department of Housing and Urban <br /> Development(HUD) assistance programs, it must submit a transcript of <br /> organizational documents to the HUD area office. <br /> C. Economic development authorities <br /> Minn.stat.§§469.090 to All cities and townships have authority from the state Legislature to create <br /> 469.1082. <br /> Minn.stat.§469.1082,subd. economic development authorities. The city may consolidate the economic <br /> 5. development authority (EDA)with an existing HRA or the city may grant <br /> Minnesota Department of <br /> Employment and Economic the authority HRA powers. The city council may create an EDA by <br /> Development:The Economic passing an enabling resolution. Before adopting the enabling resolution, <br /> Development Authorities <br /> Handbook. the city must first conduct a public hearing. The enabling resolution <br /> establishes a board of commissioners for the EDA. The city council can <br /> choose to serve as the EDA board of commissioners or create a board <br /> composed of community members. The mayor, with approval of the <br /> council, appoints the commissioners. The board may consist of three, five <br /> or seven members who serve six-year terms. The board is subject to the <br /> open meeting law. <br /> 1. EDA levies <br /> League of Minnesota Cities Handbook for Minnesota Cities 11/4/2014 <br /> Community Development and Redevelopment Chapter 15 1 Page 9 <br />