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Article 4 <br />Quorum and Voting <br />4.1) Quorum-A majority of the Commissioners in office at any time shall cons <br />for all purposes. In the case a quorum is not present at any me <br />the power to adjourn the meeting, without notice or other announ meeting, <br />until the requisite number of Commissioners is present, and busi <br />transacted at the meeting which was adjourned may be transacted <br />meeting. <br />4.2) Voting - In addition to a quorum being required for each meeting of the Authority in order <br />to transact business, a majority of all of the Commissioners sha <br />matter before the Commissioners. <br />Article 5 <br />Finance and Contracts <br />5.1) Fiscal Year-The calendar year shall be the fiscal year of the Authority for general and <br />administrative purposes; provided, however, that other fiscal ye <br />resolution as required or desirable for specific purposes or und <br />5.2) Budget - The following budgetary proceedings shall apply to the transaction of business by <br />the Authority: <br />(01)A budget shall be prepared by the Executive Director. This budg <br />presented to the Commissioners of the Authority for consideratio <br />(02)The budget shall include estimated revenues and the source of re <br />the projects for the ensuing year, and the estimated costs for s <br />general administrative and overhead costs estimated for the ensud a proposed <br />levy. <br />(03)After full consideration of the budget, the Commissioners of the <br />approve it and the Chair of the Authority shall submit the budge <br />later than the tenth day of September of each year. <br />Article 6 <br />Scope of Powers and Duties <br />6.1) Contracts and Procurement <br />s:\eda\hra\bylaws.doc <br />