Laserfiche WebLink
<br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />except when such Director attends such meeting for the <br />express purpose of objecting to the transaction of any <br />business because the meeting is not lawfully convened. <br /> <br />3.11 Quorum: A majority of the Directors then in <br />office shall constitute a quorum for the transaction of <br />business; provided that, if less than a quorum is present, <br />the Directors present may adjourn the meeting from time <br />to time, provided, further, that the Secretary shall <br />notify any absent Directors of the time and place of <br />such adjourned meeting. Unless otherwise provided <br />herein, the act of a majority of the Directors present <br />at a meeting at which a quorum is present, shall be an <br />act of the Board of Directors. <br /> <br />3.12 Duties of the Board: The duties of the Board <br />of Directors shall be: <br /> <br />a. To govern the business and affairs of the <br />Authority. <br /> <br />b. To exercise all powers of the Authority. <br /> <br />c. To comply with the provisions of Parts 1, 5 <br />and 6 of Article I, Title 29 of C.R.S., as <br />amended. <br /> <br />d. To adopt a fiscal resolution which complies <br />with statutory and other restrictions imposed <br />by law on the affairs of the Authority. <br /> <br />e. To govern the financial transactions of the <br />Authority, including the receipt, custody and <br />disbursement of its funds, securities and <br />other assets. <br /> <br />f. To provide for the services of a firm of <br />independent certified public accountants to <br />examine, at least annually, the financial <br />records and accounts of the Authority, and to <br />report thereupon to the Board of Directors. <br /> <br />g. To keep records of the Authority's pro- <br />ceedings. <br /> <br />h. To adopt such by-laws as appropriate for the <br />conduct of its business not in conflict here- <br />with. <br /> <br />4. Officers. <br /> <br />The officers of the Authority shall be a Chairman, <br />Vice-Chairman, Secretary, Treasurer, and such other officers <br />and assistant officers as may be authorized by the Board of <br />Directors from time to time, to perform such duties as may <br />be approved by the Board of Directors. The Chairman, Vice- <br />Chairman and Treasurer shall be principal members of the <br />Board of Directors, but the other officers of the Authority <br />need not be members of the Board. <br /> <br />, <br /> <br /> <br />.~ <br />~ <br /> <br />4.1 Regular Elections and Term of Office: At the <br />first meeting of the Board of Directors following <br />formal execution of this Agreement, the members of the <br />Board of Directors shall elect officers who shall serve <br />as officers of the Authority until the next succeeding <br />annual election of the Board of Directors, or until <br />their successors are elected and qualified. There- <br /> <br /> <br />6 <br /> <br />~ <br />