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~03~ aftez~ full consideration of the budget, the Commissioners of the <br />Authority shall appro~.7e it and the Chaa~~ of the Authority shall submit the <br />budget to the City Council not later than the tenth day of September of <br />each gear, <br />A~~`~C~E Q. <br />SCOpE OE PO~~ERS AND DUTIES <br />6.1) <br />G.3) <br />Contracts and Procuz°em.ent <br />~0 ~.} All construction ~~rork and ~~ork of demolition and clearing, <br />contracts for services or for repau~s, maintenazzce and replacements, and <br />every purchase of equipment, supplies ar materials and contracts therefor <br />shall be in accordance with the procurement policies, if any, established <br />by resolution of the Authorit~r, <br />~Q~~ .~ ro~Tal of Contract by .A.ttorne~r - Except faz~ the purchase of <br />expendable office supplies, no contract sha11 be made by the authority <br />through any officer or employee except in v~riting approved as to farm. by <br />the atto~°ne~r for the ~.utho~°ity. <br />~D3} Execution of Contracts -Unless other~~rise du°ected bSr the <br />Authority or requ~.z^ed by the State oz~ Federaz agencies fuz~nishing funds to <br />the Autharit~r, all contracts shall be executed on behalf of the Authaz°ity <br />by any t~~ro of the officers of tl~.e .~A.uthority, or one officez~ of the Authoz°~.tSr <br />and the Executive Du1ectar. <br />Disbursements <br />~~~7 ~`ederal Funds -All funds z°eceived f~~orn. the ~av~ez~nment of the <br />United States or an~r of its agencies shall be disbursed and accounted for <br />in accordance ~~ ith the regulations oz7 requiz~ements from tizn.e to time <br />made by the federal agencies fuz~nishing said funds to the Authority. <br />~Q2} Official De ositorv -all monies received by the Authority f~~am any <br />sou~ryce ~vhatsoevez~ shall be deposited in approved bank accounts of the <br />Authority and shall be disbursed only by check, except that petty cash <br />funds not exceeding One Eundz~ed Dollars ~~1Q0} at any time maybe <br />maintained by the ~~.utho~°ity, <br />~Q3~ Checks - .AJ.1 checks dz~a~~n on bank accounts of the Authority shall <br />indicate the fund and, in the case of a project, the project to be chap.°ged. <br />A].l checks shall be signed by the tiro designated Camzuissioners of the <br />Authorit~r, or one afficez° of the Authority and the Executive Du°ector. <br />M <br />V <br />