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and responsibilities as the Board may from time to time and by resolution <br /> prescribe. <br /> Section 2.8. Executive Director. The Executive Director shall be <br /> designated from time to time by the Authority, shall be the chief appointed <br /> executive officer of the Authority, and shall have such additional responsibilities <br /> and authority as the Board may from time to time by resolution prescribe. The <br /> Executive Director shall serve at the pleasure of the Board. <br /> 3. Procedures of Board of Commissioners <br /> Section 3.1. Annual Meeting. The annual meeting of the Board shall be <br /> held at 6:00 p.m. on the third Monday of the month of <br /> January in each year. <br /> Section 3.2. Regular Meetings. The Board shall hold regular meetings on <br /> the XM third Monday of each month, commencing at <br /> 6:00 P.M. o'clock p.m., C.T., or at other time as the Board may <br /> determine. <br /> Section 3.3. Special Meetings. Special meetings if the Board may be <br /> called by the President or, in the event of the President's absence or inability, by <br /> the Vice President at any time, upon three days prior notice to all Commissioners <br /> and the Executive Director. Upon the same notice, special meetings of the Board <br /> may also be called by any two Commissioners. The Executive Director shall post <br /> notice of any special meeting in the principal office of the Authority no less than <br /> three days prior to such special meeting. <br /> Section 3.4. Quorum. A quorum of the five member Board shall consist of <br /> three Commissioners. In the absence of a quorum, no official action may be taken <br /> by, on behalf of, or in the name of the Board or the Authority. <br /> Section 3.5. Adoption of Resolutions. Resolutions of the Board shall be <br /> deemed adopted if approved by not less than a simple majority of all <br /> Commissioners present. Resolutions may but need not be read aloud prior to vote <br /> taken thereon and may but need not be executed after passage. <br /> Section 3.6. Rules of Order. The meetings of the Board shall be governed <br /> by the most recent edition of Robert's Rules of Order. <br /> 4. Miscellaneous <br /> Section 4.1. Fiscal Year. The fiscal year of the Authority shall be the <br /> same as the City's fiscal year. <br /> Section 4.2. Treasurer's Bond. The Treasurer shall give bond to the state <br /> conditioned for the faithful discharge of official duties. The bond must be <br /> approved as to form and surety by the Authority and filed with the Secretary and <br /> 2 <br />