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The Board discussed tabling review of the revised By-Laws until after the <br />new election. Mr. Fults asked who could attend Board meetings; Mr o <br />C~odrich noted that only Board members may attend such meetings unless <br />others are specifically invited. Mr. Greenberg commented that he would <br />like to proceed with a review of the By-Laws. <br /> <br />Mr. C~odrich reviewed the following revisions to the By-Laws: <br /> <br /> 1. All shareholders have only one vote, no matter how many shares are <br /> held; no reference to Class A or B shareholders; <br /> <br /> 2. ~d record date - 30 days before any election; <br /> <br /> 3. Wording regarding quorum should be reviewed and may need revision; <br /> <br /> 4. Terms of board members to be staggered; <br /> <br /> 5. All officer positions except president, vide-president, secretary <br /> and treasurer have been deleted; <br /> <br />6. Officers must be members of the Board of Directors; and <br />7. Reference to staff has been removed. <br />ADJOURNMENT <br /> <br />Mr. Ippel adjourned the Board meeting at 9:33 a.m. <br /> <br />Respectfully submitted, <br /> <br />A~~ ~br~'~v{ris~COmmunity Development Director <br /> <br />Economic Development Company/April ~15, 1988 <br /> <br /> Page 3 of 3 <br /> <br /> <br />