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Title 04
Chapter 04.25
Section 04.25.540
 

Title 04 Administrative Agencies and Procedures

Chapter 04.25 Public Development Authority

Article II. Charter

Section 04.25.540 Indemnification
  1. To the extent permitted by law, the authority shall protect, defend, hold harmless and indemnify any person who becomes a director, officer, employee or agent of the authority and who is a party to a proceeding by reason related to that person’s conduct as a director, officer, employee or agent of the authority against judgments, fines, penalties, settlements and reasonable expenses (including attorneys’ fees) incurred by him in connection with such proceedings if such person acted in good faith and reasonably believed his conduct to be in the authority’s best interests and if in the case of any criminal proceedings he had no reasonable cause to believe his conduct was unlawful.
     
  2. The indemnification and protection provided herein shall not be deemed exclusive of any other rights to which a person may be entitled as a matter of law or by contract or by vote of the board of directors.
     
  3. The authority may purchase and maintain appropriate insurance for any person to the extent provided by the applicable law.

Date Passed: Monday, March 26, 2007

Effective Date: Sunday, May 6, 2007

Recodification ORD C33995 Section 1