11-21-1983 Industrial Development Corporation Board of Directors Meeting

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e e ....-::::.....:. . , D j \" D. 'I Tl'\~~~-t ",io.e..r p IV'~t+ p. iJe( \\ C II section ;::'1 Executive Committee. Thk Board of Direc- tors, by resolution passed by a majority of the directors in office, may designate two or more directors to constitute an executive committee, which committee, to the extent provided in such resolution, shall have and may exercise all of the authority of the Board of Directors in the management of the corporation, except where action of the Board of Directors is specified by law. The executive committee shall act in the manner provided in such resolution. The executive committee so designated shall keep regular minutes of the transactions of its meetings and shall cause such minutes to be recorded in books kept for that purpose in the office of the Corpora- tion, and shall report the same to the Board of Directors from time to time. /'10 - . section Jr. Compensation of Directors. Directors as such shall not receive any salary or compensation for their services, except that they shall be reimbursed for their actual expenses incurred in the performance of their duties hereunder. \he. brA Df bi~c.-ft>~ ARTICLE III fr\O.1 a.l~o e,..(e.c..f ()'I'~poim- (> t'\-t. OY'" mD~ aS~1 ~~ ~ \J i e,,," rt,. itJ. etV\+5 ,,'-'0 r- . o~e. ot' ~O~ OFFICERS section 1. Titles and Term of Office. The officer~ the corporation shall be a pres~dent/W v~ce presiden~a ~ secretary and a treasurer, and such other officers as the Board of Directors may from time to time elect or appoint. One person may hold more than one office, except t the president shall not hold the office of secretary. Terms of office shall not exceed three years. ., All officers shall be subject to removal from office, with or without cause, at any time by a vote of a majority of the entire Board of Directors. A vacancy in the office' of any officer shall be filled by a vote of a ma'orit of the directors. A w\&..., 0 . e. OQ,(i r"S ~ ~e. c....por'cetiOf\) section 2. powers and Dut~es 0 the presiden . president shall be t11~ o111'::f e:xe.emti ve. effic..L of U~'" eO.L!-'v r:ati9n and, E:1:Wj ~o~. to tha BO~. re of :Dire~~-c:r!3, ~~all Be i: S.u~Q..l .aiir9e-e~ ~Q preflert~ec aRQ affa~ro Elf tila-~e~8r.a ! tiOR; shall preside at all meetings of the Board, of Directors; and in furtherance of the purposes of the corporation, may sign and execute all contracts, conveyances, franchises, -4-