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<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 />" <br /> <br />, <br />, <br /> <br />" <br />" <br />, <br /> <br />after, officers shall be elected annually by the Board <br />of Directors at the Board's last regularly scheduled <br />meeting for each calendar year. Each officer shall <br />hold office until the next succeeding election of the <br />Board of Directors, or until his successor is elected <br />and qualified. vacancies or new offices may be filled <br />at any meeting of the Board of Directors. <br /> <br /> <br />4.2 Removal: Any office or agent elected or <br />appointed by the Board of Directors may be removed by <br />the Board of Directors, with or without cause, whenever <br />in its judgment the best interests of the Authority <br />will be served thereby. <br /> <br />4.3 Duties of Officers: In addition t~ duties <br />designated by the Board of Directors, the duties of the <br />officers shall include the following: <br /> <br />a. <br /> <br />Chairman: The Chairman shall preside at all <br />meetings of the Board of Directors and, ex- <br />cept as otherwise delegated by the Board of <br />Directors, shall execute all legal instru- <br />ments of the Authority. <br /> <br />b. <br /> <br />Vice-Chairman: The Vice-Chairman shall, in <br />the absence of the Chairman, or in the event <br />of his inability or refusal to act, perform <br />the duties of the Chairman, and when so acting, <br />shall have all the powers of, and be subject <br />to all restrictions upon, the Chairman. <br /> <br />c. <br /> <br />Secretary: The Secretary shall maintain the <br />official records of the Authority, including <br />this Agreement, by-laws, rules and regula- <br />tions established by the Board of Directors, <br />minutes of the meetings of the Board of Direc- <br />tors, and a register of the names and addresses <br />of the Directors and officers, and shall <br />issue notice of meetings, attest and affix <br />the corporate seal to all documents of the <br />Authority. <br /> <br />d. <br /> <br />Treasurer: The Treasurer shall serve as <br />financial official of the Authority, and <br />pursuant to the fiscal resolution adopted by <br />the Board of Directors governing the finan- <br />cial transactions of the Authority and the <br />restrictions imposed by law, be responsible <br />for the receipt, custody, investment and <br />disbursement of the Authority's funds and <br />securities, and for duties incident to the <br />office of Treasurer. <br /> <br />e. <br /> <br />Assistant Secretaries and Assistant Treasurers: <br />The Board may appoint such assistants as it <br />deems necessary and appropriate. <br /> <br />f. <br /> <br />Miscellaneous: The duties and functions of <br />the Secretary and the Treasurer may be per- <br />formed by a single individual who shall be a <br />principal member of the Board. If the in- <br />dividual performing the duties of Secretary <br />is not a member of the Board of Directors, <br />such individual shall receive such compensa- <br />tion as is deemed appropriate by the Board of <br />Directors. <br /> <br /> <br />7 <br />