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Title 04
Chapter 04.25A
Section 04.25A.120
 

Title 04 Administrative Agencies and Procedures

Chapter 04.25A United Native Americans Public Development Authority

Section 04.25A.120 Board Review and Concurrence
  1. At least quarterly, the board of directors shall review monthly statements of income and expenses which compare budgeted expenditures to actual expenditures. The board of directors shall review all such information at regular meetings, the minutes of which shall specifically note such reviews and include such information.
  1. General or particular authorization or review and concurrence of the board of directors by resolution shall be necessary for any of the following transactions:
    1. Transfer or conveyance of an interest in real estate other than release of a lien or satisfaction of a mortgage after payment has been received and the execution of a lease for a current term less than one year.
    1. The contracting of debts, issuances of notes, debentures or bonds, and the mortgaging or pledging of authority assets or credit to secure the same.
    1. The donation of money, property or other assets belonging to the authority.
    1. An action by the authority as a surety or guarantor.
    1. All capital expenditures in excess of twenty-five thousand dollars, and all other transactions in which:
      1. the consideration exchanged or received by the authority exceeds the greater of one percent of the previous year’s operating budget or twenty-five thousand dollars;
      1. the performance by the authority extends over a period exceeding one year from the date of execution of an agreement therefor; or
      1. the authority assumes duties to the City, the State, the United States of America or other governmental entity.
    1. Any substantial project or major activity outside the limits of the City.
    1. Adoption of an annual budget and a separate capital budget.
    1. Certification of annual reports and statements to be filed with the clerk as true and correct in the opinion of the board of directors and of its members except as noted.
    1. Proposed amendments to the charter and bylaws; and
    1. Such other transactions, duties and responsibilities as the charter shall repose in the board of directors or the board of directors may reserve.

Date Passed: Monday, March 26, 2007

Effective Date: Sunday, May 6, 2007

Recodification ORD C33995 Section 1