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ARTICLE VII: OFFICERS AND COMMITTEES <br /> Section 1. The officers of the Board are a President, Secretary-Treasurer, Vice-President, <br /> Vice President - Administrator elected for a term of one year by the Directors at the organization <br /> meeting and at the annual meeting. The Board may designate Directors to act as officers in the <br /> absence of any officer. <br /> Section 2. The President presides at meetings of the Board. The Secretary-Treasurer is <br /> responsible for records of proceedings of the Board, the funds and financial records of the Board, <br /> and such other matters as may be delegated to the Secretary-Treasurer by the Board. The Vice <br /> President—Administrator shall be responsible for day-to-day operations of the Coalition. <br /> Section 3. The President, Secretary-Treasurer and/or Vice President - Administrator may <br /> sign vouchers or orders disbursing funds of the North Metro I-35W Corridor Coalition. <br /> Disbursement will be made in the method prescribed by law for statutory cities. Two signatures <br /> shall be required for all disbursements in excess of$20,000.00. <br /> Section 4. The Board may in its by-laws provide for and define the duties of such other <br /> officers as it determines necessary from time to time. <br /> Section 5. The Board may in its by-laws provide for such committees as it determines <br /> necessary from time to time. A by-law providing for an executive committee and defining the <br /> powers and duties of an executive committee may be adopted only by a favorable vote of all <br /> members of the Board. <br /> ARTICLE VIII: POWERS AND DUTIES <br /> Section 1. The Board may take such actions, as it deems necessary and convenient to <br /> accomplish the general purposes of this agreement. <br /> Section 2. The Board may, to the extent allowed by law: <br /> (a) Enter into contracts to carry out its powers and duties. <br /> (b) Employ and/or hire such persons as it deems necessary on a part-time, full-time <br /> or consultant basis. <br /> (c) Purchase and hold personal property and accounts. <br /> (d) Contract for space, commodities or services. <br /> (e) Accept gifts, apply for and use grants or loans of money or other property from <br /> the state, the United States of America, and from other governmental and non- <br /> governmental units and may enter into agreements in connection therewith and <br /> hold, use and dispose of such money or property in accordance with the terms <br /> of the gift, grant, loan or agreement relating thereto. <br /> 4 <br />