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Section 5. Sub7ect to the provisions of the approved <br />budqet the Executive Committee shall have the authority to <br />,- appoint, fix the conditions of employment of, and remove any <br />employees of the organization. <br />Section 6. The Executive Committee may adopt by-laws <br />govezning its own procedures in accordance with this <br />agreement and subject to the supervision of the Board. <br />Section 7. The Executive Committee has those powers <br />and duties assigned to it by the uniform franchise and such <br />other powers and duties essential to the administration of <br />the uniform franchises and convenient to the conduct of <br />the Authority's affairs as are delegated to it by the Board. <br />IX. FINANGIAL MATTERS <br />Section 1. The fiscal year of the Authority is the <br />calendar year. <br />Section 2. Authority funds may be expended in <br />accordance with the procedures established by law for the <br />expenditure of funds by villages. Orders, checks and <br />drafts shall be signed by the chairman or vice chairman <br />and countersigned by the secretary-treasurer or such other <br />person as shall be designated by the Board. Other legal <br />instruments shall be executed on behalf of the Authority <br />by the chairman and the secretary-treasurer. Contracts <br />shall be let and purchases shall be made in accordance wi�fi <br />the legal requirements applicable to villages. <br />Section 3. The actiyities of the Authority shall ��� <br />13 <br />. <br />