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<br />e <br /> <br />e <br /> <br />tive Commi ttee shall be under the Chairmanship of the President and <br /> <br />shall consist of the elected officers who are members of the Board <br /> <br />of Directors and the City Manager of the City of La'Porte; provided, <br />however, that at his option the President may appoint one ad~itional <br /> <br />member of the Executive Commi ttee from the Board of Direc~ors. The <br /> <br />Executive Commi ttee, by resolution of the Board of Direc,tors, shall <br /> <br />have and exercise the authori ty of the Board in the management of <br /> <br />the corporation. However, the Executive Committee shall r:eport its <br /> <br />activities at each regular meeting of the Board. <br /> <br />The said Board shall also have the power to provide for other <br /> <br />commi ttees, wi th such terms,' powers and duties as may be assigned <br /> <br />and delegated. <br /> <br />Section 15. COMPENSATION: The Directors and all officers who <br /> <br />are members of the Board qf Directors shall serve without compensa- <br /> <br />. <br />tion. Compensation for other corporate officers, agents and employees <br /> <br />shall be fixed by the Board of Directors. <br /> <br />" <br /> <br />Section 16. ACTION BY UNANIMOUS CONSENT: <br /> <br />If and when all of <br /> <br />the Directors shall severally or colle~tively unanimously consent <br /> <br />in writing to any action to be taken by the corporation, such action <br /> <br />shall be as valid corporate action as though it had been authorized_ <br /> <br />at a meeting of the Board of Directors. <br /> <br />-12- <br />