469.091 ECONOMIC DEVELOPMENT AUTHORITY.
Subdivision 1. Establishment.
A city may, by adopting an enabling resolution in compliance
with the procedural requirements of section
, establish an economic development
authority that, subject to section
, has the powers contained in sections
and the powers of a housing and redevelopment authority under sections
or other law, and of a city under sections
or other law. If the economic
development authority exercises the powers of a housing and redevelopment authority contained
or other law, the city shall exercise the powers relating to a housing
and redevelopment authority granted to a city by sections
or 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.
an economic development authority or to a nonprofit corporation exercising the powers of an
economic development authority.
History: 1987 c 291 s 92; 1994 c 623 art 5 s 2