01-21 EDA Resolution No. 20
EDA RESOLUTION NO. 20
RESOLUTION DELEGATING EXECUTIVE DIRECTOR TO EXECUTE CERTAIN
DOCUMENTS AND AUTHORIZE EXPENDITURES ON BEHALF OF THE RICHFIELD
ECONOMIC DEVELOPMENT AUTHORITY
WHEREAS
, the Richfield Economic Development Authority (the “Authority”) was
established by the City of Richfield, Minnesota (the “City”) in 2017 to promote and to provide
incentives for economic development in the City; and
WHEREAS
, the President (or his or her designee) of the Authority and the Executive
Director of the Authority execute all documents and contracts on behalf of the Authority for which
action has been taken; and
WHEREAS
, the Authority has determined to authorize the Executive Director of the
Authority to approve and execute documents or agreements on behalf of the Authority related to
the routine business of the Authority or related to projects approved by the Board of
Commissioners of the Authority (the “Board”) and potential future projects, including but not limited
to professional services agreements, nondisclosure agreements, right of entry agreements, and
consultant agreements, so long as such documents or agreements do not provide for the
expenditure of funds in an aggregate amount of more than $50,000, all without prior action by the
Authority; and
WHEREAS
, the Authority has also determined to authorize the Executive Director of the
Authority to approve expenditures of funds in a maximum aggregate amount of $50,000 without
prior action by the Authority; and
WHEREAS
, the Authority finds that the execution and approval of documents or
agreements by the Executive Director and the expenditures of funds by the Executive Director as
described herein will be beneficial to the affairs of the Authority; and
NOW, THEREFORE, BE IT RESOLVED
, by the Board of Commissioners of the
Richfield Economic Development Authority as follows:
1. The approval and execution of the documents and agreements and the expenditure of
funds on behalf of the Authority as described herein is hereby authorized and delegated
to the Executive Director of the Authority.
2. All documents and agreements executed by the Executive Director of the Authority
pursuant to the authority delegated by this resolution shall be reported to the Board.
3. All expenditures shall be reported to the Board, after expenditure, in the form of the
Approval of Claims by the Authority at each of its regular meetings.
4. This resolution shall be in full force and effect as of the date hereof.
EDA Resolution No. 20 1
Adopted by the Richfield Economic Development Authority this 21St day of January, 2020.
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EDA Resolution No.20 2