PUBLISH

(December 26, 2024)

ORDINANCE NO. 2024-095

CITY OF NEW ULM, BROWN COUNTY, MINNESOTA

AN ORDINANCE AMENDING SECTION 3.27 OF THE CITY CODE OF THE CITY OF NEW ULM REGARDING OFFICERS OF THE ECONOMIC DEVELOPMENT

AUTHOIRTY

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NEW ULM:

SECTION 1. That Chapter 3: Boards and Commissions, Section 3.27: Economic Development Authority, Subd. 4: Organization, officers, employees, and administration, of the New Ulm City Code is hereby amended as follows:

Subd. 4. Organization, officers, employees, and administration.

A. The Authority shall adopt rules of procedure and shall adopt an official seal for the Authority.

B. The Authority shall elect a president, a vice-president, and a secretary- treasurer annually. A commissioner must not serve as president and vice- president at the same time. The other offices may be held by the same commissioner. The office of secretary-treasurer must be held by a commissioner. C. The officers have the usual duties and powers of their offices. They may be given other duties and powers by the commission.

D. The secretary-treasurer shall have the following duties:

1. shall receive and be responsible for Authority money;

2. shall be responsible for the acts of the assistant treasurer;

3. shall disburse Authority money by check only;

4. shall keep an account of the source of all receipts, and the nature, purpose, and authority of all disbursements; and

5. shall file the Authority’s detailed financial statement with the commission and its secretary at least once a year at times set by the commission.

E. The City Finance Director shall be the assistant secretary-treasurer of the Authority and shall have the powers and duties of the secretary-treasurer if the secretary-treasurer is absent or disabled.

F. The secretary-treasurer shall give bond to the state conditioned for the faithful discharge of official duties. The bond must be approved as to form and surety by the Authority and filed with the secretary. The bond must be for twice the amount of money likely to be on hand at any one time, as determined at least annually by the Authority, provided that the bond must not exceed $300,000.00.

SECTION 2. This Ordinance shall take effect and shall be in force thirty (30) days from and after its adoption, approval, and publication.

Adopted by the City Council of the City of New Ulm, Minnesota, this 17th day of December, 2024.

ATTEST:

Finance Director

Andrea S. Boettger

President

Approved by the Mayor of the City of New Ulm this 17th day of December, 2024.

Mayor

Ahliam L Backer