Laserfiche WebLink
426 <br />427 <br />428 <br />429 <br />430 <br />431 <br />432 <br />433 <br />434 <br />435 <br />436 <br />437 <br />438 <br />439 <br />440 <br />441 <br />442 <br />443 <br />444 <br />445 <br />446 <br />447 <br />448 <br />449 <br />450 <br />451 <br />452 <br />453 <br />454 <br />455 <br />456 <br />457 <br />458 <br />459 <br />460 <br />461 <br />462 <br />463 <br />464 <br />Attachment A <br />amount of money on hand, and where the same is invested or deposited, and such other <br />information as shall show the general financial condition of the Association. The <br />Treasurer shall be the custodian of and responsible for the safekeeping of all bank books, <br />certificates of deposit, notes, bonds, securities and other obligations for the payment of <br />money belonging to or held in trust by the Association, and shall deliver the same and all <br />monies and all other properties in their possession belonging to the Association to the <br />successor in office or to any person or committee authorized to receive the same by the <br />Board of Trustees. The Treasurer shall not be responsible for the financial losses of such <br />investments properly made in accordance with the provisions of these Bylaws, but only <br />for the safekeeping of the securities. The Treasurer shall, prior to entering upon the <br />duties of the office, give a good and sufficient surety bond conditioned upon the faithful <br />perFormance of the Treasurer duties and approved by the City Council in the amount <br />received. The Council may require at any time that an additional bond be posted. Such <br />bond shall be filed with the City Manager, and shall be paid for by the Association. <br />The Treasurer shall furnish to the Secretary, from time to time, such information as may <br />be required to perForm the duties of the office; and shall perForm such other duties as <br />usually pertaining to the office of Treasurer as designated by the Board. <br />Upon appointment by the Board of Trustees as provided in Section 60 hereof, the <br />Treasurer is authorized and directed to consult with and to direct the activities of an <br />investment agent or agency and further to authorize the investment of the funds in the <br />name of the Board of Trustees, and in conformity with the laws of the State of Minnesota <br />governing such investments. In fulfilling said duties, the Treasurer shall in nowise be <br />liable for losses sustained by reason of the investment decisions of funds, except upon <br />judicially determined gross negligence of said Treasurer. <br />Section 26A Optional Officers - Duties <br />If designated by the Board of Trustees, an Assistant Secretary and an Assistant <br />Treasurer may serve the Association upon continuing Board approval. Said officers need <br />not be a Trustee and shall not succeed as a Trustee in the absence of election and <br />qualification. The duties of said officers shall be to assist the Secretary and Treasurer, <br />respectively, in the performance of their duties. <br />Section 26B Authority of Contracting Debts <br />No Officer or member of this Association shall contract any debt for this Association <br />unless authorized by the Board of Trustees, or pursuant to the investment authority <br />provided in Section 60 hereof. <br />13 <br />