7.5 HRSR 02-06-2017 - Laserfiche WebLink

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Article 4 Quorum and Voting 4.1) Quorum - A majority of the Commissioners in office at any time shall constitute a quorum for all purposes. In the case a quorum is not present at any meeting, those present shall have the power to adjourn the meeting, without notice or other announcement at the meeting, until the requisite number of Commissioners is present, and business which might have been transacted at the meeting which was adjourned may be transacted at such reconvened meeting. 4.2) Yotiag - In addition to a quorum being required for each meeting of the Authority in order to transact business, a majority of all of the Commissioners shall be required to approve any matter before the Commissioners. Article 5 Finance and Contracts 5.1) Fiscal Year - The calendar year shall be the fiscal year of the Authority for general and administrative purposes; provided, however, that other fiscal years may be established by resolution as required or desirable for specific purposes or undertakings of the Authority. 5.2) Budget - The following budgetary proceedings shall apply to the transaction of business by the Authority: (01) A budget shall be prepared by the Executive Director. This budget shall be presented to the Commissioners of the Authority for consideration in August of each year. (02) The budget shall include estimated revenues and the source of revenues, the costs of the projects for the ensuing year, and the estimated costs for staff personnel, as well as the general administrative and overhead costs estimated for the ensuing year, and a proposed levy. (03) After full consideration of the budget, the Commissioners of the Authority shall approve it and the Chau of the Authority shall submit the budget to the City Council not later than the tenth day of September of each year. Article 6 Scope of Powers and Duties 6.1) Contracts and Procurement s.\�da\nm\byla.,.da