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<br />5.04The Board of Directors shall obtain prior City Council approval of all real estate acquisitions, real estate <br />leases for over exceeding one year and/or any long-term other leases for over exceeding one year; and all bond <br />issues or other debt extending beyondone year; and, contracts, expenditures, or debts over $15,000.00. The <br />Board of Directors shall have the authority to enter into all other budgeted transactions without prior or additional <br />City Council approval. Notwithstanding the foregoing, the Board of Directors shall have the authority to approve all <br />budgeted Enhancement Grant expenditures Requests for an amount equal to or less than $25,000, without additional approval <br />of City Council. Amendments to the budget must be approved by the City Council. <br /> <br />