Resolution No. 4238 - Laserfiche WebLink

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ARTICLE IX - CONTRACTS, LOANS CHECKS AND DEPOSITS 9.1. Contracts. The board of directors may authorize any officer or officers, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Community Organization and such authority may be general or confined to specific instances. 9.2. Loans. No loans shall be contracted on behalf of the Community Organization and no evidence of indebtedness shall be issued in its name unless authorized by a resolution of the board of directors. Such authority may be general or con- f to specif instances. 9.3. checks, Drafts, and Other instruments. All checks, drafts, and other orders for payment of money, and promissory notes and other instruments of indebted- ness issued in the name of the community Organization shall be signed by such officer or officers, or agent or agents of the community organization as shall from time to time be determined by resolution of the board of directors. 9.4. Deposits. All funds of the community organization not otherwise employed shall be deposited from time to time to the credit of the community organization in centennial Bank, west 11 th Branch, Eugene, Oregon or such other banks, trust companies or other depositories as the board of directors may from time to time select. ARTICLE X - INDEMNIFICATION 10.1. The community Organization shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the community organization) by rea- son of the fact that he or she is or was a director, officer, employee or agent of the community organization, or is or was serving at the request of the Community Organization as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorney fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her in connection with such action, suit or proceeding if he or she acted in good faith and in a manner he or she reasonably believed 'to be in or not opposed to. the best interests of the community Organization, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlaw- ful. The termination of any action, suit or proceeding by judgment order, settle- ment, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of� itself, create a presumption that the person did not act in good faith and in a