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<br />ARTICLE X <br />GENERAL PROVISIONS <br /> <br />section 1. <br /> <br />Checks. <br /> <br />All checks or demands for money or <br /> <br />notes of NSAC shall be signed by such officer or officers or <br /> <br />other such person or persons as the Board of Directors may from <br /> <br />time to time designate. <br /> <br />section 2. Seal. NSAC shall not have a corporate seal. <br /> <br />section 3. <br /> <br />Annual Report. <br /> <br />The officers of NSAC shall <br /> <br />annually prepare a report summarizing the activities of NSAC <br /> <br />conducted in the course of its prior fiscal year and distribute <br /> <br />the same to the member cities of the Commission. <br /> <br />section 4. Contracts. The Board of Directors may authorize <br /> <br />any officer or officers, agent or agents of the Corporation to <br /> <br />enter into any contract or execute and deliver any instrument in <br /> <br />the name of and on behalf of the corporation and such authority <br /> <br />may be general or confined to specific instances. <br /> <br />Unless so <br /> <br />authorized by the Board of Directors, no officer, agent or <br /> <br />employee shall have any power or authority to bind the Corpora- <br /> <br />tion by any contract or engagement or to pledge its credit or <br /> <br />render it liable pecuniarily for any purpose or to any amount. <br /> <br />Section 5. Loans and Pledqes. No loans shall be contracted <br /> <br />nor pledges or guarantees given on behalf of the Corporation <br /> <br />unless specifically authorized by the Board of Directors. <br /> <br />Section 6. <br /> <br />Authorized Signatories. All checks, drafts, or <br /> <br />other orders for the payment of money, notes, or other evidences <br /> <br />of indebtedness issued in the name of the Corporation shall be <br /> <br />signed by such person or persons and in such manner as shall be <br /> <br />13 <br />