Laserfiche WebLink
A quorum for a meeting of the Board of Directors is a <br /> majority of the Directors. <br /> Fxcept where otherwise specifically stated in this Agency <br /> Agreement or in the Bylaws, any action which requires the <br /> affirmative vote of a percentage of Representatives or Directors <br /> or a percentage of votes cast by the Representatives shall be <br /> construed to be that percentage of Representatives or Directors <br /> present and voting or that percentage of votes capable eof being <br /> cast by such Representatives present and voting at <br /> which a quorum is present, and not that percentage of all <br /> Representatives or DireCtoTS or that percentage of all votes <br /> capable of being cast by all Representatives . <br /> (N ) Fiscal Year . unless otherwise provided in the Bylaws or <br /> in a resolution adopted by the Board of Directors , the Fiscal Year <br /> of the Municipal Power Agency shall commence January l and end <br /> December 31 . <br /> (L ) Amendments to this Accent A reement and S •laws . This <br /> AoencY Agreement may only be amended at a regular or special <br /> meeting of the Representatives for which notice stating the <br /> purpose shall be given to each Representative and any such <br /> amendment shall only became effective when ( a ) apProved by wo <br /> thirds of all of the Representatives , each casting one voce , <br /> a apProved by two-thirds of the total number of votes capable of <br /> being cast by all of the Representatives, in accordance with the <br /> weighted voting formula described in section 94C ) hereof , <br /> 4c ) <br /> approved and concurred in by commission Resolutions and City <br /> Council Resolutions of two-thirds of all of the Members , and (d ) <br /> when such amendment , together with certified copes of such <br /> Commission Resolutions and such City Council. Resolutions are filed <br /> with the secretary of State . <br /> The Bylaws may only be adopted and amended by ta) the <br /> affirmative Vote of two-thirds of the Representatives present and <br /> the affirmative vole of two-thirds of the total <br /> voting, and ( b) voting, at <br /> amount of votes cast by the Representatives in weighted g, <br /> an annual or special meeting . <br /> (N,) Terrr^ination . This Agency Agreement may be terminated by <br /> (a ) the vote of <br /> t� o�thirds of all Representatives , each ca5tinf <br /> one nave, and ' b) the vote of t►�o-thirds of the fatal amount of <br /> the votes cast by the Represencazives in weighted voting at a <br /> regular meeting or a meeting specially called for that purpose, <br /> but not un4il after all debts of the Municipal two thirds �afhthe <br /> been paid : and only Leon the approval of same by <br /> members , as evidenced by Commission Resolutions and City Council <br /> Resolutions filed with the Board of Directors . Thereafter , the <br /> Board of Directors shall liquidate the b•-,siness of the municipal. <br /> Power Agency as expeditiously as possible. , distribute the net <br /> - 14 - <br />