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HomeMy WebLinkAboutEDA Bylaws Revised 2018 1 of 10 CITY OF PRIOR LAKE PRIOR LAKE ECONOMIC DEVELOPMENT AUTHORITY BYLAWS Amended January 3, 1995 Amended January 2, 1996 Amended February 20, 1996 Amended October 21, 1996 Amended December 21, 1998 Amended April 16, 2001 Amended March 19, 2007 Amended October 18, 2010 Amended September 24, 2012 Amended February 11, 2013 Amended January 12, 2015 Amended January 11, 2016 Amended January 9, 2017 Amended March 19, 2018 ARTICLE 1. NAME AND PURPOSE 1.1 The Prior Lake Economic Development Authority (EDA) is a public body politic and a political sub- division of the State of Minnesota. The EDA shall have all the powers, duties, responsibilities and limita- tions provided for in Minnesota Statutes Section 469.090 to 469.108 which statutes are incorporated by reference as if fully set forth herein and in the Enabling Resolution passed by the Prior Lake City Council creating the Economic Development Authority. The Enabling Resolution and these Bylaws may be amended by the City Council from time-to-time. 1.2 The business of the Economic Development Authority shall include but not be limited to: promoting growth, development and redevelopment of retail, commercial and industrial properties in Prior Lake; di- versifying the City’s tax base; providing tools and incentives to achieve the Economic Vision Element in the City’s 2030 Vision and Strategic Plan; and providing an incubator to generate ideas and initiatives to support economic growth and vitality. 1.3 The affairs of the Economic Development Authority shall be conducted in accordance with these Bylaws. ARTICLE 2. OFFICES AND BOUNDARIES 2.1 The principal office of the EDA shall be in the City Hall of the City of Prior Lake, 4646 Dakota Street SE, County of Scott, and State of Minnesota. The EDA may also have offices at such other places as the commissioners of the EDA may from time to time designate or as the business of the EDA may require. 2.2 The territory in which operations of the EDA are principally to be conducted consists of the City of Prior Lake, Scott County, in the State of Minnesota. ARTICLE 3. BOARD OF COMMISSIONERS 2 of 10 3.1 APPOINTMENT AND TERMS. The Prior Lake Economic Development Authority shall consist of five (5) commissioners. The five (5) commissioner Authority shall be comprised of two (2) commissioners from the City Council and three (3) commissioners appointed from the public. The appointments shall be made by the Mayor and approved by the City Council. The commissioners appointed from the public shall be appointed for six (6) year terms beginning on January 1 and concluding on December 31. Public mem- bers may be appointed at any time throughout the year. If a public member is appointed at any time other than January, the member shall begin service immediately upon appointment and shall serve as if ap- pointed in the previous January, serving five full years and a partial year. The terms of commissioners appointed from the public shall be staggered with no two terms expiring in the same year. If at any time the terms are no longer staggered, all current terms shall expire naturally, but upon the natural expiration, the newly appointed commissioners shall be appointed for terms that result in staggered terms as deter- mined by the City Council. The City Council members appointed to the Authority shall serve terms that coincide with their term of office as a Council Member. City Council members appointed to the Authority are not required to serve staggered terms. Commissioners of the EDA are not term limited. 3.2 CRITERIA FOR NON-COUNCIL APPOINTMENTS. Members of the public appointed to serve on the EDA must have relevant experience in: the private sector, business development or redevelopment, business retention, business management, real estate, project management, planning, financing and/or familiarity or experience working in the public sector. The individual should have experience working in a team environment, have good communication and problem-solving skills and have the time and creativity to serve and actively contribute as a commissioner. 3.3 ELIGIBILITY FOR NON-COUNCIL APPOINTMENTS 3.3.1 To be eligible to serve on the EDA, an individual must either: 3.3.1.1 Be a resident of the City; or 3.3.1.2 Be in a management position at or hold a controlling financial interest in a business located within Prior Lake. 3.4 VACANCY. If an appointed member of the Committee resigns, is terminated, reaches a term limit, or otherwise vacates a seat of the Committee, the Prior Lake City Council shall appoint a replacement in the following manner: 3.4.1 Commissioners appointed from the public: 3.4.1.1 Applications are solicited. A notice of the vacancy is made public and individuals may be encouraged to consider the position. The notice shall state the deadline for submitting applications. 3.4.1.2 Screening Committee. The City Manager or his designee, the City Council liaison to the committee, the staff liaison to the committee, and one member of the com- mittee appointed by majority vote of the committee shall serve as the Screening Committee. An individual subject to re-appointment may not sit on the screening committee. 3.4.1.3 Appointment. The Screening Committee for EDA vacancies shall narrow the can- didates down to up to three (3) finalists per vacancy. The names of applicants are private data. Once finalists have been selected, the names of the finalists become public data. The finalists shall be interviewed by the Council and allowed to make a five minute presentation regarding their qualifications and reasons for seeking the appointment. Members of the Council may ask questions of the candidate, but the time used for questions will not be counted against the candidates five (5) minute presentation. The Mayor shall then appoint one of the finalists and the Council shall vote on approval. If the Council does not approve the finalist appointed by the Mayor, the Mayor may appoint one of the other finalists for Council approval or may reopen the vacancy to the public for new candidates. 3 of 10 3.4.2 Commissioners appointed from the City Council. If a commissioner appointed from the City Council vacates a seat of the EDA for any reason, the Mayor shall appoint and the City Council shall approve a new commissioner from the City Council. The newly ap- pointed commissioner shall serve a term that coincides with their term of office as a Council Member. All members of the Council including the Mayor are eligible for appointment. 3.5 REMUNERATION AND REIMBURSEMENT. A commissioner, including the President, shall be paid a per diem for attending each regular or special meeting of the EDA in an amount to be determined annually by the City Council. The per diem may not exceed the per diem paid to the City Council. In addition to receiving a per diem for attending meetings, the commissioners may be reimbursed for actual expenses incurred in doing official business of the EDA. Expense reimbursements must be reviewed and approved by the President and Executive Director of the EDA before they are submitted for payment. All money paid for compensation or reimbursement must be paid out of the EDA's budget. (Minn. Stat. 469.095, subd. 4). 3.6 REMOVAL OF MEMBER: Any member of the EDA may be removed from office by a four-fifths (4/5) vote of the entire City Council for reasons including but not limited to: (i) failure to attend a minimum of 75% of meetings; (ii) failure to attend site visits/inspections; (iii) failure to review and understand agenda materials; (iv) failure to participate in an appropriate and productive manner; (v) failure to continue to meet any requirement set forth in Section 203; and (vi) failure to comply with any provision of these bylaws or any federal, state or local rule or regulation. 3.7 STAFF LIAISON: The Mayor shall appoint one or more staff liaisons to serve on the EDA. The staff liaison shall schedule meetings and provide information at the direction of the EDA. The staff liaison may provide information on the staffs’ position at the request of the EDA but shall not direct the EDA or advocate for a position. ARTICLE 4. MEETINGS AND NOTICE 4.1 REGULAR MEETINGS. The EDA shall establish a regular meeting schedule. There shall be not less than four (4) nor more than twelve (12) regular meetings per year. Notice of all meetings, both regular and special, shall follow the requirements of the Minnesota Open Meeting Law. 4.2 QUORUM. Three (3) commissioners shall constitute a quorum for the purpose of conducting busi- ness. Commissioners are to notify the staff prior to the meeting if they are unable to attend. 4.3 NOTICE. Whenever the provisions of an applicable statute or these Bylaws require “notice” to be given to any commissioner or officer notice may be given by U.S. Mail, telephone, electronic communica- tion, or in person. 4.4 SPECIAL MEETINGS. Special meetings of the Board of Commissioners may be called at any time by any two (2) commissioners or the President or, in the President’s absence, by the Vice-President. No- tice of special meetings of the Board of Commissioners shall be given to each commissioner at least two (2) days prior to the meeting if possible, provided, however, that if giving two (2) days’ notice is not possible notice shall be given as soon as possible prior to the meeting. The notice shall state the time, place and business scheduled to come before the EDA. Public notice of a special meeting shall comply with the requirements of the Minnesota Open Meeting Law. 4 of 10 4.4.1 In the case of special meetings, the presence of any commissioner of the Authority at a special meeting shall constitute a waiver of any formal notice of the meeting unless the commis- sioner attends for the specific purpose of objecting to the holding of such meeting. 4.5 CONDUCT OF BUSINESS AT MEETINGS. Business of the meeting will be conducted according to the Agenda prepared by the Staff Liaison. A memo, report, or brief explanation of each agenda item shall be included in the EDA agenda packet. The information provided by staff should serve to inform the EDA of the subject matter under discussion. The information should explain in detail the staff comments or work, or state that the staff will present the necessary details and comments at the meeting. 4.6 PUBLIC HEARINGS. Public Hearings shall be conducted in the following manner: 4.6.1 The presiding officer announces the agenda item that is the subject of the public hearing. 4.6.2 It is the intent of the EDA to open all public hearings at the time indicated in the public hearing notice, or as soon as possible thereafter. From a practical standpoint, not all hear- ings can be opened at their designated time. The EDA may delay the start of a hearing until the pending business is acted upon. However under no circumstances may a public hearing be opened prior to the time specified in the notice and published in the official newspaper. 4.6.3 Staff and/or a consultant make a presentation or report on the subject matter of the public hearing. 4.6.4 At the conclusion of any presentation or remarks by staff and/or a consultant, the presid- ing officer asks the EDA members if they have questions of the staff or consultant. 4.6.5 The presiding officer requests a motion and second from a member of the EDA to open the public hearing and calls for a vote. 4.6.6 The presiding officer declares the public hearing opened, announces the time and then proceeds to ask for citizen input, comments and questions. 4.6.7 After all persons have been heard, the presiding officer will ask whether there are any other persons in attendance who want to be heard on the matter pending. The presiding officer will request a motion to close the public hearing or to continue the public hearing to a date and time certain. 4.6.8 Once the public hearing is closed, the EDA addresses the subject matter through deliber- ation. The EDA may ask questions of the staff and City Attorney. EDA members should refrain from calling upon a member of the public except for the sole purpose of asking a question that can be answered by a “yes” or “no” response. 4.6.9 Once deliberations are complete, the presiding officer requests a motion on the matter at hand. 4.7 VOTING. All commissioners of the EDA shall have equal voting authority. 4.8 CONSENT AGENDA. 4.8.1 With the adoption of these Bylaws, a Consent Agenda is created. The purpose of the “Con- sent Agenda” is to group items of a routine and non-controversial nature for consideration under one motion. There will be no separate discussion of items placed on the Consent Agenda. If discussion of an item on the Consent Agenda is desired, any commissioner of the EDA may request the item be removed from the Consent Agenda and considered sep- arately. 4.8.2 The Executive Director shall determine what items may be considered routine and non- controversial; and therefore appropriate for inclusion as a Consent Agenda item. To provide the Executive Director with guidance, the following types of items tend to be routine and non-controversial: grant deeds, grants of easements, quarterly budget report, treasurer’s report, calls for bid, reports of administrative actions and proposals, leases and agreements 5 of 10 previously approved in principle, setting dates for public hearings, approval of payment of contracts, approval of denial of claims, award of bids, and other items of a like nature that the Executive Director considers routine and non-controversial. 4.8.3 The EDA Agenda sheet shall include the following statement: “Those items on the EDA Agenda which are considered routine and non-controversial are included as part of the Consent Agenda. Unless the President or an EDA commissioner specifically requests that an item be on the Consent Agenda be removed and considered separately, Items on the Consent Agenda are considered under one motion, second and a roll call vote. Any item removed from the Consent Agenda shall be placed on the EDA agenda under ‘Removed Consent Agenda Items’”. ARTICLE 5. OFFICERS, DUTIES AND RULES 5.1 OFFICERS. The EDA shall elect a president, a vice-president, a treasurer, a secretary, and an assistant treasurer annually at the first meeting of the year. 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 offices of secretary, treasurer and assistant treasurer need not be held by a commissioner. The EDA shall elect the Financial Director of the City of Prior Lake as the treasurer. 5.2 DUTIES. The officers of the EDA shall have the usual duties, responsibilities and powers associ- ated with their office. 5.3 The treasurer shall receive and is responsible for all EDA money; shall keep an account of the source of all receipts, and the nature, purpose and amount of all disbursements; and shall file the EDA's detailed financial statement with its secretary at least once a year at times set by the EDA. The assistant treasurer shall have the powers and duties of the treasurer if the treasurer is absent or disabled. 5.4 The 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 EDA 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 EDA, provided that the bond must not exceed $300,000. (Minn. Stat. 469.096) 5.5 BUSINESS ENGAGEMENT COMMITTEE LIAISON. The EDA shall elect a Business Engagement Committee (“BEC”) liaison at the first meeting of the year. Any of the five (5) commissioners may serve as the BEC liaison. ARTICLE 6. FINANCE AND ADMINISTRATION 6.1 EDA money is public money. The monies of the EDA shall be deposited in the name of the EDA in such bank or banks as the Board of Commissioners shall designate. 6.1.1 The EDA is a political subdivision separate and distinct from the City. 6.1.2 The City has established separate funds for EDA money and the EDA will have access only to current EDA-related accounts. 6.1.3 The EDA has its own budget and the EDA will be responsible for developing its budget. 6.1.4 Although the EDA has the power to issue debt instruments, it may not do so without ap- proval from the City Council. 6.2 An EDA check must be signed by the treasurer and one other officer named by the EDA in a resolution. The check must state the name of the payee and the nature of the claim that the check is issued for. (Minn. Stat. 469.096) 6 of 10 6.3 The nature, number and qualification of the staff required by the EDA to conduct its business ac- cording to these Bylaws shall be annually determined by the EDA. Any contract shall set forth in reason- able detail the nature of the services to be provided to the EDA, and the cost basis for such services and the payment to be made by the EDA. The EDA shall use the City’s standardized contracts. 6.4 The books and records of the EDA shall be kept at the EDA office in the treasurer’s office in City Hall at the City of Prior Lake, Minnesota. 6.5 The EDA's detailed financial statement must show all receipts and disbursements, their nature, the money on hand, the purposes to which the money on hand is to be applied, the EDA's credits and assets, and its outstanding liabilities in a form required for the City's financial statements. The EDA shall examine the statement together with the treasurer's vouchers. If the EDA finds that the statement and vouchers are correct, it shall approve them by resolution and enter the resolution in its records. ARTICLE 7. DEPOSITS, DEFAULT, COLLATERAL 7.1 Every four (4) years the EDA shall name a national bank with offices in the seven-county metropol- itan area or a state bank to act as the official depository of the EDA. Before acting as a depository, a named bank shall give the EDA a bond approved as to form and surety by the EDA. The bond must be conditioned for the safekeeping and prompt repayment of deposits. The amount of bond must be at least equal to the maximum sums expected to be deposited at any one time. 7.2 When EDA funds are deposited by the treasurer in a bonded depository, the treasurer and the surety on the treasurer's official bond are exempt from liability for the loss of the deposits because of the failure, bankruptcy, or other act or default of the depository. However, the EDA may accept assignments of collateral from its depository to secure deposits just as assignments of collateral are permitted by law to secure deposits of the City. (Minn. Stat. 469.099) ARTICLE 8. ANNUAL REPORT AND BUDGET 8.1 Notwithstanding anything herein, and subject to the EDA’s enabling resolution, the EDA shall not, without prior approval from the City Council, levy a tax or special assessment, pledge the credit of the City, incur an obligation enforceable on property not owned by the EDA, issue any debt obligation, or incur any debt beyond the amount budgeted in the current year. 8.2 Annually, at a time fixed by resolution or ordinance of the City, the EDA shall send its budget to the City Council. The budget must include a detailed written estimate of the amount of money that the EDA expects to need from the City to do EDA business during the next fiscal year. The needed amount is what is needed in excess of any expected receipts from other sources. The EDA budget shall be developed and prepared using the format and procedure used by all City departments. 8.3 The fiscal year of the EDA shall be the same as the fiscal year of the City. 8.4 Annually, or as may be required by City Council, at a time and in a form fixed by the City Council, the EDA shall submit a report to the City Council giving a detailed account of its activities and of its receipts and expenditures during the preceding calendar year, together with additional matter and recommenda- tions it deems advisable. 8.5 The financial statements of the EDA must be prepared, audited, filed and published or posted in the manner required for the financial statements of the City. The financial statements must permit compar- ison and reconciliation with the City's accounts and financial reports. The report must be filed with the state auditor by June 30 of each year. The auditor shall review the report and may accept it or, in the public interest, audit the books of the EDA. 7 of 10 8.6 At the request of the City or upon the auditor's initiative, the state auditor may make a legal com- pliance examination of the EDA including the salaries paid to the examiners while actually engaged in making the examination. The state auditor may bill monthly or at the completion of the audit. All collections received must be deposited in the general fund. (Minn. Stat. 469.100) ARTICLE 9. POWERS 9.1 The Board of Commissioners may exercise all powers of an EDA and do all such lawful acts and things as are authorized pursuant to Minn. Stat. 469.090 to 469.108, the Enabling Resolution and these Bylaws. 9.2 The EDA may exercise all of the powers contained in the Housing Act, Minn. Stat. 469.001 to 469.047. 9.3 The EDA may exercise all of the powers of an Agency contained in the Development Act, Minn. Stat. 469.124 to 469.134. 9.4 The EDA may exercise all of the powers of a redevelopment agency contained in the Industrial Bond Act, Minn. Stat. 469.152 to 469.165. 9.5 The EDA may exercise all of the powers of a city contained in the Housing Finance Act, provided authorized to do so by ordinance of the City Council pursuant to Section 462C.02, Subdivision 6 of the Housing Financing Act. 9.6 The EDA may exercise all of the powers of an authority contained in the Tax Increment Act, Minn. Stat. 469.174 to 469.179. 9.7 The EDA may exercise such powers as may be contained in other laws applicable to economic development authorities or housing and redevelopment authorities not specifically described herein. The officers have the usual duties and powers of their offices. They may be given other duties and powers by the EDA. 9.8 The EDA may appoint subcommittees as it deems necessary to carry out its other powers and duties. All subcommittees shall comply with the Minnesota Open Meeting Law. ARTICLE 10. LIMITATION OF POWERS 10.1 All official actions of the EDA must be consistent with the adopted Comprehensive Plan of the City and with any official controls adopted by the City Council to implement the Comprehensive Plan to the extent available. 10.2 Budget. The EDA annual budget shall be approved by the City Council. 10.3 All powers of the EDA shall be consistent with the Enabling Resolution. 10.4 If there is a question with respect to EDA final authority, the City Council shall be deemed to be the final authority. ARTICLE 11. STAFF 11.1 The City Manager shall serve as the Executive Director to the EDA. The Executive Director and other staff are not considered members of the EDA. The Executive Director and other staff may participate in discussion, at the discretion of the EDA commissioners, but may not vote on matters before the EDA. 8 of 10 11.2 The EDA may employ a chief engineer, other technical experts and agents, and other employees as it may require and may determine their duties, qualifications and compensation. (Minn. Stat. 469.097, subd. 1). 11.3 The EDA may contract for the services of consultants, agents, public accountants, and other per- sons needed to perform its duties and exercise its powers. (Minn. Stat. 469.097, subd. 2) 11.4 The City Attorney is the chief legal advisor to the EDA. (Minn.Stat. 469.097, subd. 3) 11.5 The EDA may purchase the supplies and materials it needs to carry out Minn. Stat. 469.090 to 469.108 (Minn. Stat. 469.097, subd. 4)and its other powers and duties. 11.6 The EDA shall use the facilities of its City's purchasing department in connection with construction work and to purchase equipment, supplies, or materials. (Minn. Stat. 469.097, subd. 5) 11.7 The City may, to the extent available, furnish offices, structures, space, clerical, engineering or other assistance to the EDA. The City may charge the EDA for such services. (Minn. Stat. 469.097, subd. 6) 11.8 The EDA may delegate to one or more of its agents or employees powers or duties as it may deem proper. (Minn. Stat. 469.097,subd. 7) ARTICLE 12. SEAL 12.1 The official seal of the EDA shall be the same as the official seal of the City of Prior Lake. ARTICLE 13. INSURANCE 13.1 The EDA shall obtain a written opinion from the LMCIT regarding insurance coverage issues. The EDA shall purchase and maintain insurance as recommended by the LMCIT to cover the activities of the EDA including its commissioners, officers, employees, agents and attorney. ARTICLE 14. AMENDMENT OF BYLAWS 14.1 Recommendations from the EDA to alter, amend, add or repeal any portion of these Bylaws may be accomplished by a majority vote of the commissioners present at any meeting, as long as the notice of the meeting or agenda for the meeting contains notice and statement of the proposed alteration, amend- ment or repeal. Notice of any alteration, amendment or repeal of the Bylaws shall be given in writing to each commissioner at least three (3) days prior to the meeting at which said proposed alteration, amend- ment or repeal will be considered. 14.2 Once the EDA passes a recommendation to alter, amend, add or repeal any portion of these By- laws, the EDA shall forward the recommendations to the City Council for its approval. ARTICLE 15. MISCELLANEOUS 15.1 EDA meetings shall be governed by these Bylaws and Roberts Rules of Order. Roberts Rules are adopted here as a framework to ensure that meetings are conducted with order and a general respect for the views expressed by all the EDA commissioners, but Roberts Rules are not always easily implemented by a body such as the EDA. When a question of parliamentary procedure presents itself, the President, in consultation with the City Attorney, will rule on the question. If Roberts Rules are improperly applied, the decision of the EDA shall not be invalidated or otherwise set aside. 9 of 10 ARTICLE 16. STATEMENT OF ETHICS 16.1 POLICY STATEMENT: The City of Prior Lake recognizes our system of democratic representa- tive government is dependent in large measure, upon people having trust and confidence in their public officials. The public rightfully expects governmental officials will conduct City of Prior Lake business in ways which benefit the public good generally and that public office will not be used chiefly or improperly to advance personal interests. The City Council of Prior Lake has pledged the goals of fair, efficient and honest government will be fostered and that it will strive for integrity and objectivity from all of its officials. 16.1.1 The City of Prior Lake finds that the proper operation of democratic representative govern- ment requires that: • Elected and appointed officials be independent, impartial and responsible to the peo- ple; • Governmental decisions and policy are made in the proper channels of the govern- mental structure; • Public office and position not be used for personal gain; and • The public have confidence in the integrity of its government. 16.1.2 The City of Prior Lake shall adhere to the highest ethical standards that enhance the pub- lic trust in local government by: • Creating transparency in its actions through honest and open communication; • Basing decisions and adopting public policies based on what is in the best interest of the public and the overall community; • Supporting the public’s right to know the public’s business; and • Exercising fairness, optimism, responsiveness and respect in communicating with the public. • Providing a forum and periodic training for public officials and employees to discuss organizational values that reflect high standards and current conditions and concerns. 16.1.3 This Statement of Ethics shall be liberally construed in favor of protecting the public’s in- terest in full disclosure of conflicts of interest and promoting ethical standards of conduct. 16.2: CAMPAIGN FINANCE AND PUBLIC DISCLOSURE: Minnesota Statutes, Chapter 10A (adopted as the Ethics in Government Act) is incorporated herein by reference. This policy shall be con- strued and interpreted in consultation with the City Attorney according to Minnesota Statutes and case law. 16.3: GIFTS AND FAVORS: GIFTS AND FAVORS: No public official shall accept any gift, including but not limited to money, real or personal property, services, loans, mementos, food, beverag es, or any other favor or thing, regardless of value, from any interested person except as follows: 16.3.1 a contribution as defined in Minn. Stat. Section 10A.01, Subd. 11. 16.3.2 services to assist an official in the performance of official duties, including but not limited to providing advice, consultation, information, and communication in connection with legisla- tion, and services to constituents. 16.3.3 services of insignificant monetary value. 16.3.4 a plaque or similar memento recognizing individual services in a field of specialty or to a charitable cause. 16.3.5 a trinket or memento costing $5 or less. 16.3.6 informational material of unexceptional value. 16.3.7 food or a beverage given at a reception, meal, or meeting away from the recipient's place of work by an organization before whom the recipient appears to make a speech or an- swer questions as part of a program. 16.3.8 received: 10 of 10 (1) because of the recipient's membership in a group, a majority of whose members are not local officials, and an equivalent gift is given or offered to the other members of the group; (2) by an interested person who is a member of the family of the recipient, unless the gift is given on behalf of someone who is not a member of that family; or (3) by a national or multistate organization of governmental organizations or public offi- cials, if a majority of the dues to the organization are paid from public funds, to attendees at a conference sponsored by that organization, if the gift is food or a beverage given at a reception or meal and an equivalent gift is given or offered to all other attendees. 16.3.9 received in exchange goods or services of equal value. 16.4: USE OF EQUIPMENT AND FACILITIES: No public official shall request or permit the unauthor- ized use of City-owned vehicles, equipment, materials, property, labor or services for personal convenience or profit. 16.5: CONFLICT OF INTEREST: Except as authorized in Minn. Stat. 471.88, a public officer who is authorized to take part in any manner in making any sale, lease, or contract in official capacity shall not voluntarily have a personal financial interest in that sale, lease, or contract or personally benefit financially therefrom. (Minn. Stat. Section 471.87) 16.6 A public official or local official elected to or appointed by a metropolitan governmental unit who in the discharge of official duties would be required to take an action or make a decision that would substantially affect the official's financial interests or those of an associated business, unless the effect on the official is no greater than on other members of the official's business classification, profession or occupation, must take the following actions: 16.6.1 Advise the City Attorney of the potential conflict of interest as soon as possible, preferably before the meeting; and 16.6.2 The City Attorney shall determine whether a disqualifying conflict of interest exists. 16.6.3 Any commission member shall orally inform the EDA of the potential conflict and abstain from any participation in that agenda item if a conflict is determined to exist. 16.7: The purpose behind the creation of a rule, which would disqualify public officials from participating in proceedings in a decision-making capacity when they have a direct conflict of interest in its outcome, is to ensure that their decision will not be an arbitrary reflection of their own selfish interests. There is no settled general rule as to whether such an interest will disqualify an official. Each case must be decided on the basis of the particular facts present. Among the relevant factors that should be considered in mak- ing this determination are: (1) nature of the decision being made; (2) the nature of the pecuniary interest; (3) the number of officials making the decision who are interested; (4) the need, if any, to have interested persons make the decision; and (5) the other means available, if any, such as the opportunity for review, that serve to ensure that the officials will not act arbitrarily to further their selfish interests.