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<br />e e <br /> <br />(2) A copy of the audit report shall be maintained by the <br />District as a public record for public inspection at all <br />reasonable times~ <br /> <br />(3) A copy of the audit report shall be forwarded to the State <br />Auditor or other appropriate State official pursuant to <br />statutory requirements. <br /> <br />Section 10. CorDorate Seal. The seal of the District shall be a circle <br />containing the name of the District and shall be used on all documents and in such <br />manner as seals generally are used by public and private corporations. The <br />Secretary shall have custody of the seal and shall be responsible for its safe <br />keeping and care. <br /> <br />Section ] 1. Disclosure of Conflict of Interest. A potential conflict of <br />interest of any Director shall be disclosed in accordance with State law, <br />particularly Article 18 ,of Title 24, C.R.S., and Sections 32-1-902(3) and 18-8-308, . <br />C~R.S~ <br /> <br />. Section 12. Compensation. Each Director shall receive the maximum <br />compensation authorized by statute, unless otherwise determined by the Board. No <br />Director shall receive compensation as an employee of the District, except as may <br />be provided by statute. <br /> <br />Section 13. Indemnification of Dir'ectors and Emplovees. The District <br />shall defend, hold hannless and indemnify any Director, officer, agent, or <br />employee, whether elective or appointive, against any tort or liability, claim or <br />demand, without limitation, arising out of any alleged act or omission occurring <br />during the performance of official duty, as more fully defined by law or by an <br />indemnification resolution. The provisions of this Section shall be supplemental <br />and subject to and, to the extent of any inconsistency therewith, shall be modified <br />by the provisions of the Colorado Governmental Immunity Act, 24-10-101, et seq., <br />C.R.S. <br /> <br />Section 14. Biddiol! and Contractine Procedures. Except in cases in <br />which the District will receive aid from a government agency, a notice shall be <br />published for bids on all construction contracts for work or material, or both, <br />involving an expense of $25,000 or more of District funds. The Board may reject <br /> <br />13 <br />