RES 07147 - Laserfiche WebLink

(4) Budget The Board shall adopt a budget no later than one hundred twenty (120) days after the first meeting of the Board and no labr than June 30th of each year thereafbr. (5} Contributions. Nrtthin 90 days of execution of this Agreement, the Board wiH establish by two-thuds (213) vole of itte Board the amount ofstart-up funds to be contributed fio the Authority by each Member. Additional contributions shall be specified in the Funding Plan th be adopted by fiMO-thirds (213) vote of the Board, in accordance with Section 5.d. and Section 7.a. (ti) Fiscal Year. The fiscal year of the Authority shall be the period from July 1st of each year ~ and utduding the togowing June 30th. 7. Voting. Each member of the Board shall have one vote. The Board may take action by the affurnative vote of the majorfiy of the entire Board. However, the following anions may only be taken with the affirmative vote of at least sixteen (16) Directors. a. Establishstart-up conhitwtions from Members, as refer~ced in Section 6.d.(5) of this Agreement and adopt a Funding Plan, as referertcred in Sections 6.d.(5) and 5.d.; b. Levy and coNect, or cause m be odlec~ed, communication impact fees on new residential, commercial, and indt development, as auiftai~ed by local, state, and federal law; c. Forrn a speaal assessment district under any (egg authority that exists now or in the future, inducting, wiUaut limitation, the irnproverrtertt Act of 1911 (Streets & Highways Code Section 5000 et seq.), the Murtidpal Improvement Act of 1913 (Streets ~ Hghways Code Section 10000 et seq.), and the Improvement Bond Act of 1915 (Streets & Highways Code Section 8500 et seq.), as authorised by local, stale, and federal law; d. Form a spedal tax dishict t~tder the Mello-Roos Corrtrrxmity Fac~+ties District Ad of 1982 (Government Code Section 53311 et seq.) or any other authority that may Mast now or in the futon;; e. Cause taxes, assessments, fees or charges to be levied as authot~ed by local, stab, and federal law, and in a manner tp accomplish the purposes of the Authority; f. Issue bona or other forms of debt; and g. E~aerrise the power of eminent domain. 8. Reserved. 9. Indemnification. The Aufhorihr shall acquire such insurance protection as is necessary tp protect the interest of the Authority and its Members. The Authority shall assume the defense of and indemnittr and save harmless the Members and their govemutg bodies, officers, agents, and employees from all dakns, losses, damages, costs, injury, and liability of every kind, nature, and description diret~ly or indirectly arising from the perfomoance of any of the adivifies of the Authority or the activities undertaken pursuant to this Agreement. Jdnt Exerr9se or Powers Agreement tot the Fast Bay Regbnal Communications System Authorfly 8 of 11 Flnal Agreement: May 22, ZOdT ~