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-3- <br /> The Board shall hold regular meetings on the last Monday of eaGh <br /> I+ FRORthJanuary, April, July, and October, commencing at 7:995:30 p.m. or <br /> at such other time as the Board may determine. <br /> Section 3.3. Special Meetings. <br /> Special meetings of the Board may be called by the President, any two <br /> Commissioners, or by the Executive Director. The Executive Director <br /> shall post notice of any special meeting in the principal office of the <br /> Authority no less than three days prior to such special meeting. <br /> Section 3.4. Quorum. <br /> A quorum of the five member Board shall consist of three Commissioners. <br /> In the absence of a quorum, no official action may be taken by, on behalf <br /> of, or in the name of the Board or the Authority. <br /> Section 3.5. Adoption of Resolutions. <br /> Resolutions of the Board shall be deemed adopted if approved by not <br /> less than a simple majority of all Commissioners present. Resolutions <br /> may, but need not be read aloud, prior to vote taken thereon. All <br /> resolutions shall be executed after passage. <br /> Section 3.6. Rules of Order. <br /> The meetings of the Board shall be governed by the most recent edition <br /> of Robert's Rules of Order. <br /> 4. MISCELLANEOUS <br /> Section 4.1. Fiscal Year. <br /> The fiscal year of the Authority shall be the calendar year. The Authority <br /> shall establish a separate special revenue&g fund for the purpose <br /> of maintaining all financial and accounting records of the Authority, <br /> including the nature of all receipts and disbursements, money on hand, <br /> and the purposes to which it may be applied, and records of Authority's <br /> debits and credits. The Authority shall establish such debt service funds <br /> as may be properly authorized and necessary for conduct of the <br /> Authority's funds. <br /> Section 4.2. Bond. <br /> The City shall ensure that all persons responsible for management of the <br /> Authority's financial records and resources are properly bonded. <br /> Section 4.3. Checks. <br /> The President, Secretary-Trea&w%f, and TreasurerGeR#e4e-r shall <br /> execute all checks authorized by the Authority. Vouchers authorizing <br />