Res 2007-043 - Laserfiche WebLink

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reimbursernent for expenses which are reasonable and necessary in carrying out the Agency's purposes. The Board shall adopt a resolution describing expenses that are subject to reimbursernent and the process for obtaining reimbursement. I Section 5. 7 Officer's Reliance on Consultant Information. In the discharge of a duty imposed or power conferred on an officer of the Agency, the officer may in good faith and with ordinary care rely on information, opinions, reports, or statements, including financial staternents and other financial data, concerning the Agency or another person that were prepared or presented by: (1) one or rnore other officers or employees of the Agency, including rnernbers of the Board; or (2) legal counsel, public accountants, or other persons as to matters the officer reasonably believes are within the person's professional or expert competence. ARTICLE VI TRANSACTIONS OF THE AGENCY Section 6.1 Contracts. The Board of Directors may authorize any officer or agent ofthe Agency to enter into a contract or execute and deliver any instrument in the name of and on behalf of I the Agency. This authority may be limited to a specific contract or instrurnent or it may extend to any number and type of possible contracts and instrurnents. Section 6.2 Deposits. All funds of the Agency shall be deposited to the credit of the Agency in banks, trust companies, or other depositories that the Board of Directors selects. Section 6.3 Gifts. The Board of Directors may accept on behalf of the Agency any contribution, gift, bequest, or devise for the general purposes or for any special purpose of the Agency. The Board of Directors rnay rnake gifts and give charitable contributions that are not prohibited by these Bylaws, state law, or any requirernents for maintaining the Agency's federal and state tax status. Section 6.4 Potential Conflicts of Interest. The Agency shall not make any loan to a Director or officer of the Agency. A Director, officer, or committee mernber ofthe Agency rnay lend money to and otherwise transact business with the Agency except as otherwise provided by these Bylaws and all applicable laws. Such a person transacting business with the Agency has the same rights and obligations relating to those matters as other persons transacting business with the Agency. The Agency shall not borrow money from or otherwise transact business with a Director, officer, or committee member of the Agency unless the transaction is described fully in a legally binding instrurnent and is in the best interests of the Agency. The Agency shall not borrow money from or otherwise transact business with a Director, officer, or committee mernber of the Agency without full disclosure of all relevant facts and without the approval of the Board of Directors, not I including the vote of any person having a personal interest in the transaction. -7-