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Exhibit A <br />5.04 The Board of Directors shall obtain prior City Council approval of all real estate acquisitions, real <br />estate leases exceeding one year and/or any other leases exceeding one year; all bond issues or other <br />debt extending beyond one year; and, contracts, expenditures, or debts over $15,000.00. The Board of <br />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 <br />approve all budgeted Enhancement Grant expenditures for an amount equal to or less than $25,000, <br />without additional approval of City Council. Amendments to the Corporation's budget must be approved <br />by the City Council. <br />