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<br />+ : Compensation of Officers
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<br />4.07. The officers shall not receive any salary or compensation for their services. Officers
<br />may be reimbursed for their actual expenses incurred in the performance of their duties. Travel
<br />expenses shall be reimbursed under the City's travel policy.
<br />
<br />ARTICLE V
<br />
<br />TRANSACTIONS OF THE CORPORATION
<br />
<br />Contracts
<br />
<br />5.01. The Board of Directors may authorize any officer or agent of the Corporation to enter
<br />into a contract or execute and deliver any instrument in the name of or on behalf of the
<br />Corporation. This authority may be limited to a specific contract or instrument or it may extend
<br />to any number and type of possible contracts and instruments.
<br />
<br />Depository Bank
<br />
<br />5.02. All funds of the Corporation shall be deposited with the City's depository bank.
<br />
<br />Potential Conflicts of Interest
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<br />5.03. ' The members of the Board of Directors are local public officials within the meaning of
<br />Texas Local Government Code Chapter 171. If a director has a substantial interest in a
<br />business entity or real property which is the subject of deliberation by the Board of Directors,
<br />the director shall file an affidavit with the secretary of the Corporation stating the nature and
<br />extent of the interest. Such affidavit shall be filed prior to any vote or decision upon the matter
<br />by the Board of Directors. and the interested director shall abstain from any vote or decision
<br />upon the matter.
<br />
<br />Council Approval
<br />
<br />, ,
<br />'. '. . .
<br />5".,Q~'ic:>.,(Ih.~, Bq~{g,pf, Oir~(;tQr$(sl1alJ'b6faii+ prior. City' Council'8pp(q\lat9f:~IJreq!~e$f~tEt 'r,
<br />:'";>::--j.~..,,;.h_"~... ".',.-.",;}-.~, ~',.'~"'" :.~'" ',~,-...._,;o, .;. """':;;:;_;".{L:'~'''''''' ,,',,' -. ".'< ";,>:.,"',- ",C, :,~' --' ..".' ",";:.- . ....; ",,, "",_ ,. .. ". . '_, '. _ '"....,..',;.-.,..,'., ::":/,'\~'_",,,- ,,?:,~":'~':'",.' ';<;''!'~7.U'''''''H:~',,,,,,-,,I!.;': 'c,'': '" ",....
<br />," ac'"'tiisitioriSi\;'teal'estate: lel:l'sesifor over:dhe. "earand,6fan' , 16h';,.tefm1h3ases'~tcoHtracts<; .:
<br />..".""""""q:x,:'?',j"C,,,,~,,,,,>'.b"n',."'" i"C"'","",'",i','C"'.:'."";:-" ." '.f';',,, ,,,",,,,,,,;,,",,,' ,',,'. Y ..'i'h.;"",.,,,, ""..,.,.., '., Yc"",,:, Q.:.4""";; i,:;:: ::."\":".,.;,..,1;\,,.,,;...,:.,.,,,...,. :0 ;;....;
<br />"'~'ex';'endituresSn)fi:feots'overj$ t5'ooa.oo'c'atid: bond issues'-of'otlie'tidebtextendin . " be Cind'O'ne
<br />,,,,,..?fi'Plj.""'''''''''''':'''''''''''''''':' ."",.,.,.,,, i'., ; , ',.", ".' '":''''''',''' ,'V'.' ....."',,':"'.' ," i'C'. . ""C' "',,' ?'''''/'''''',...,...""" ". ..~:t;:>x." ",..,.. ...
<br />:;x~]!r{c:fh~Board ofbfrectors shall haVe tHeauth'orityto enter ihto al(oth~tbl1dget~(f' '.' ."
<br />'transactions without prior City Council approval. Amendments to the budget must be approved
<br />by the City Council.
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<br />6
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<br />12
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