(A) Establishment. A Port Authority Commission is hereby established.
(B) Membership. The Port Authority Commission shall consist of 7 members. Five members of the Commission shall be comprised of the Mayor and City Council and 2 members shall be appointed by the Council and may be removed by a 4/5 vote of the Council. The term of the appointment to the Port Authority for both the Mayor and City Council Members shall be the term of office they were elected to by the voters of North Mankato. Appointed members of the Commission shall serve 6-year overlapping terms as defined by the applicable Minnesota state statute. The Commission shall appoint an Executive Vice President, a Secretary and an Assistant Treasurer and such other positions as it may deem appropriate in the circumstance. The City Attorney shall serve in an advisory capacity to the Commission without voting privileges.
(C) Organization and meetings. The Commission shall elect a President, Vice President and Treasurer from among its members for terms of 1 year or until their successors are elected and seated. The Commission shall hold an annual meeting in July of each year and shall hold such other meetings as it deems appropriate for the transaction of its business. The Secretary of the Commission shall keep a record of its resolutions, transactions and its minutes, which record shall be a public record.
(D) Powers of the Commission. The Commission shall serve as the economic development arm of the City of North Mankato and shall have all the powers of a Port Authority as established under applicable Minnesota statute and may exercise the same powers as a Municipal Housing and Redevelopment Authority established under M.S. § 462.425 or other law.
(Am. Ord. 54, 4th Series, passed 2-18-2014)