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Section 3. Limits of Powers.. <br /> <br />3.01. The following limits shall apply to the Economic Development Authority of the <br /> City of Ramsey and its operation: <br /> <br />(a) <br /> <br />(b) <br /> <br />(c) <br /> <br />(d) <br /> <br />The sale of all bonds or other obligations issued by the EDA shall be first <br />approved by the City Council. <br />The EDA shall follow the budget process for City Departments as may be <br />provided by the City and in accordance with City policies. <br />Development and redevelopment plans of the EDA shall be consistent with the <br />City Comprehensive Plan and official controls implementing the Comprehensive <br />Plan. <br />The EDA shall obtain approval of its proposed plans for development <br />redevelopment from the City Council. <br /> <br />3.02 <br /> <br />3.03 <br /> <br />The Enabling Resolution may be modified to make any changes as authorized by <br />the Act. <br />As provided in the Act, it is the intention of the City Council that nothing in this <br />Resolution nor any activities of the EDA shall be construed to impair the <br />obligations of the City under any of its contracts or to affect in any detrimental <br />manner the rights and privileges of a holder of a bond or other obligation <br />heretofore issued by the City. The City Council shall not modify any limit in <br />effect at the time any bonds or obligations are issued or contracts executed to the <br />detriment of the holder of the bonds or obligations or any contracting party. <br /> <br />Section 4. Implementation. <br /> <br />4.01. <br /> <br />4.02. <br /> <br />4.03. <br /> <br />The City Council shall from time to time adopt such ordinances and resolutions as <br />are required and permitted by the Act to give full effect to this Resolution. <br />The Mayor, the City Administrator, and other appropriate City officials are <br />authorized and directed to take the actions and execute and deliver the documents <br />necessary to give full effect to this Resolution. <br />Nothing in this Resolution is intended to prevent the City from modifying this <br />Enabling Resolution to impose new or different limitations on the EDA as <br />authorized by the Act. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Beyer, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councilmember Haas Steffen <br />Councilmember B eyer <br />Councilmember Beahen <br />Councilmember Zimmerman <br /> <br />RESOLUTION #98-11-280 <br /> Page 2 of 3 <br /> <br /> <br />