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<br />6/19/02 <br /> <br />.ection 6. Waiver of Notice. <br />The Committee may hold valid meetings, other than Regular meetings, at the above-referenced location without <br />notice, provided that all Members attend or waive notice, prior to the meeting. <br /> <br />Section 7. <br /> <br />A. Ouorum. Six Members will constitute a quorum. A quorum once attained, continues until <br />adjoumment, despite voluntary withdrawal of enough members to leave less than a quorum. <br /> <br />B. Voting. Each organization is entitled to one vote, by its member or alternate. The act of a <br />majority of the Members present at a meeting at which a quorum was present will be the act of the Committee, <br />except that the concurrence of a least five of the Members will be required with respect to the allocation of fixed <br />and variable annual costs among the organizations. <br /> <br />Section 8. Order of Business. <br />The Committee will be guided by Robert's Rules of Order. <br /> <br />Section 9. Resolutions. <br />All resolutions and orders of the Committee shall be in writing, recorded and authenticated by the signature of <br />two Members, and shall be contained in both the Minutes book and the Resolutions book of the Committee. <br />Resolutions shall become effective on the day of passage upon the adjournment of the meeting, unless <br />.therwise stated in L'1e resolution. All resolutions, the Minutes book, all orders ai1.d other corporate acts of the <br />ommittee shall be public record pursuant to applicable law. All resolutions, the Minutes book, all orders, <br />audits and other corporate acts of the Committee shall be maintained by the Secretary at the Animas-La Plata <br />Project Headquarters. <br /> <br />ARTICLE III - FISCAL MATTERS <br /> <br />Section 1. Fiscal Year <br />The Committee fiscal year will be October I - September 30. <br /> <br />Section 2. Annual Reoort. <br />On or before January first of each year, the Project Operator shall submit an annual report ofproject operational <br />activities for the preceding fiscal year to the Committee. The annual report shall contain a complete operating <br />and financial statement of the Project's operation during the previous fiscal year. <br /> <br />Section 3. Monthlv Report <br />No later than seven calendar days prior to the regular monthly meeting, the Project Operator shall present a <br />written financial and operational statement for the immediately preceding one month period and shall present a <br />report thereon at the regular monthly meeting. <br /> <br />Section 4. Audits. <br />The Project Operator will have an independent, stand-alone, annual audit, prepared by an outside entity, which <br />.pon approval by the Committee is a public document. All costs associated with the audit will be a direct cost <br />