1996 AGN OCT 01 I14 - Laserfiche WebLink

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D. To serve as Secretary -Treasurer of the Association and of the Board of Directors E. To attend the meeting of the Boatel of Directors. F. To perform such other and additional duties as the Board of Directors may require. Article VII - Finances A. .Piscal Year. The Fiscal Year of the Association shall commence on July 1, B. Budget Submission and Adoption. The budget of the Association shall be submitted to the Board of Directors by the Executive Director on or before the March meeting of each year. The annual budget and assessment schedule shall be adopted by the Board of Directors not later than the May meeting of each year. Notwithstanding any provision of the agreement establishing the Association, any member that cannot pay its assessment therefore because of any applicable law or charter provision or other lack of ability to appropriate or pay the same, may add such assessment to its assessment for the next full fiscal year. The budget for each year shall provide the necessary funds with which to obtain and maintain the requisite liability and workmen's compensation insurance to fully protect each of the signatory parties hereto, and such insurances shall be so obtained and maintained. C. Annual Audit. The Board of Directors shall cause an annual audit of the financial affairs of the Association to be made at the end of each fiscal year. The audit report shall be made available to Association members. D. Indemnification for Tort Liability. In contemplation of the provisions of Section 895.2 of the Government Code of the State of California imposing certain tort liability jointly upon public entities solely by reason of such entities being parties to an agreement as defined in Section 895 of said code, the patties hereto as between themselves, pursuant to the authorization contained in Section 895.4 and 895.6 of said code, will each assume the full liability imposed upon it, or any of its officers, agents or employees by law for injury caused by a negligent or wrongful act or omission occurring in the performance of this agreement to the same extent that such liability would be imposed in the absence of Section 895.2 of said code. To achieve the above state purpose each party indemnifies and holds harmless the other party for any loss, cost or expense that may be imposed upon such other party solely by virtue of said Section 895.2 The rules set forth in Civil Code Section 2778 are hereby made a part of these Bylaws. E. Notwithstanding the provisions of said Joint Powers Agreement by which this Association is Formed, no contract, employment, debt, liability or obligation of the Association shall be binding upon or obligate any member of this Association without the express written BYLAWS.C1'W 6 Ri .12nns ,r�