Agenda - Council Work Session - 02/21/2012

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ARTICLE XIII - FISCAL YEAR The fiscal year of the Corporation shall begin on January 1 of each year and end on December 31 of each year. It shall be the responsibility of the Board of Directors to adopt a budget for the forthcoming fiscal year. It shall be the responsibility of the Executive Director, designated agent, or Treasurer to refrain from engaging in or completing any action of any kind whatsoever which may result in the Corporation exceeding total budgeted expenditures for that fiscal year without first advising the President regarding the nature of the probable excess and having secured from the Board of Directors authorization to proceed. ARTICLE XIX INDEMNIFICATION To the full extent permitted by the Minnesota Nonprofit Corporation Act as amended from time to time, or by other provisions of law, each person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suite or proceeding, wherever and by whomsoever brought (including any such proceeding, by or in the right of the corporation), whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was a member, director or officer of the corporation, or he or she is or was serving at the specific request of the Board of Directors of the corporation as a Board Member, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall be indemnified by the corporation by the affirmative vote of a majority of the Board Members present at a duly held meeting of the Board of Directors for which notice stating such purpose has been given against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection 14