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3. PROCEDURES OF THE BOARD OF COMMISSIONERS <br /> <br />SECTION 4.1. Fiscal Year. The fiscal year of the Authority shall be the calendar year. <br /> <br />SECTION 4.2. Execution of Contracts. All contracts, notes and other written <br />agreements or instruments to which the Authority is a party or signatory or by which the <br />Authority may be bound shall be executed by the Chairman and/or the Executive Director or <br />by such other commissioners or officers of the Authority as the Board may be resolution <br />prescribe. <br /> <br />SECTION 4.3. Amendment of By -Laws. These By -Laws may be amended by the Board <br />only by not less than a majority vote of all the Commissioners, provided that any such <br />proposed amendment shall first have been delivered to each Commissi oner at least five days <br />prior to the meeting at which such amendment is considered. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />\\Victoria \CommDev \Housing \HRA Board \bylaws_mission \By -laws_2004.doc