Board Meeting Memorandum 09/10/2003 ‎(B)‎

• Board Meeting Date: 9/10/2003
• Description: Non Reimbursable Projects Tamarisk Coalition, Infested Acres Inventory
• Board Meetings - Doc Type: Meeting

a vote. The most recent version of Roberts Rules of Order Newly Revised shall
• govern with respect to all matters of parliamentary procedure.
9. FINANCIAL MATTERS.
9.1 Fiscal Year. The fiscal year of TC shall be the calendar year.
9.2 Budget. Annually, the Board of Directors shall develop a proposed plan of
operations and budget for the upcoming fiscal year. The Board shall submit the
proposed plan of operations and budget to the members for discussion at the
annual meeting of the members.
9.3 Funds. All funds of TC shall be deposited in banks, trust companies or other
reliable depositories as selected by the Board of Directors. Any withdrawals of
funds must follow policies and procedures as established by the Board.
9.4 Conflicting Interest Transactions.
9.4.1 As used in this section:
"Conflicting interest transaction" means a contract, transaction, or
other financial relationship between TC and an party in interest;
• ((ba))
"Party in interest" means a director or officer of TC; a party related to
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a director or officer of TC; and an entity in which a director or office of TC is
a director or officer or has a financial interest.
(c) "Party related to a director or officer" means a spouse, a descendent,
an ancestor, a sibling, the spouse or descendent of a sibling, an estate or
trust in which the director or a party related to a director has a beneficial
interest, or an entity in which a party related to a director is a director,
officer, or has a financial interest.
9.4.2 No loans shall be made by TC to its directors or officers. Any director or
officer who assents to or participates in the making of any such loan shall be
liable to TC for the amount of such loan until the repayment thereof.
9.4.3 No conflicting interest transaction shall be void or voidable, or be enjoined,
set aside, or give rise to an award of damages or other sanctions, in a
proceeding by a member or by or in the right of the nonprofit corporation,
solely because the conflicting interest transaction involves a party in interest;
or solely because the director is present at or participates in the meeting of
Board of Directors or of the committee of the Board of Directors that
authorizes, approves, or ratifies the conflicting interest transaction; or solely
• because the director's vote is counted for such purpose; if:
File: TC Bylaws, April 16, 2002.wpd 10