Property Maintenance and Legal Expenses Authorization: Difference between revisions
From Pumping Station One
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# to obtain legal, financial, or other professional advice, | # to obtain legal, financial, or other professional advice, | ||
unless said expense would exceed $5,000 or reduce the organization's cash on hand to less than the sum of four months of rent or mortgage payments for all real property. The board will report on these expenditures no less than quarterly. | unless said expense would exceed $5,000 or reduce the organization's cash on hand to less than the sum of four months of rent or mortgage payments for all real property. The board will report on these expenditures no less than quarterly. | ||
===Vote=== | ===Vote=== | ||
Yea: | Yea: | ||
Revision as of 17:05, 27 November 2012
This motion has been tabled.
Sponsor
Tim Saylor
Introduced
November 26, 2012
Language
The board of directors is hereby authorized in perpetuity to spend any money necessary:
- for maintenance and repair of the organization's leased or owned real property;
- to keep the organization in compliance with any executed contracts authorized by the organization;
- to keep the organization in good standing with any governing body to which it is subject; and
- to obtain legal, financial, or other professional advice,
unless said expense would exceed $5,000 or reduce the organization's cash on hand to less than the sum of four months of rent or mortgage payments for all real property. The board will report on these expenditures no less than quarterly.
Vote
Yea: Nay: Present:
