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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 />