§ 469.091 — ECONOMIC DEVELOPMENT AUTHORITY

Minnesota § 469.091

• Jurisdiction: Minnesota
• Part: LOCAL ECONOMIC DEVELOPMENT
• Ch. 469: ECONOMIC DEVELOPMENT

Text

Subdivision 1.Establishment.
A city may, by adopting an enabling resolution in compliance with the procedural requirements of section469.093, establish an economic development authority that, subject to section469.092, has the powers contained in sections469.090to469.108and the powers of a housing and redevelopment authority under sections469.001to469.047or other law, and of a city under sections469.124to469.133or other law. If the economic development authority exercises the powers of a housing and redevelopment authority contained in sections469.001to469.047or other law, the city shall exercise the powers relating to a housing and redevelopment authority granted to a city by sections469.001to469.047or other law.

Subd. 2.Characteristics.
An economic development authority is a public body corporate and politic and a political subdivision of the state with the right to sue and be sued in its own name. An authority carries out an essential governmental function when it exercises its power, but the authority is not immune from liability because of this.

Subd. 3.Unpaid officers, directors, and agents; liability.
Section317A.257applies to an economic development authority or to a nonprofit corporation exercising the powers of an economic development authority.

Legislative History

1987 c 291 s 92;1994 c 623 art 5 s 2;2013 c 125 art 1 s 107