Agenda - 06-20-1978 - Laserfiche WebLink

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K' ,. • -4- _ present to the County Commissioners an annual audit by a C.P.A. which audit shall be in conformity with existing audit policies of the Coun- ty. 7. The party of the second part agrees to comply with County bud- geting procedures and other procedures provided for by State Law and agrees to submit budget estimates to the Board of Commissionerson the standard forms used by county departments; the party of the sec- ond part also agrees to use standard line items for accounting de- vised or consented to by the County Accountant from time to time. 9 8. This contract shall expire '1 - 30 years from the date of the FmHA Loan closing. 9. The party of the second part further agrees to fike with the County Auditor a true copy of the Articles of Incorporation, existing Bylaws and any changes made thereto from time to time; further, the party of the second part agrees to adopt bylaws which meet all minimum legal requirements and which bylaws, in addition thereto, have reason- able provisions enabling citizens of the community to participate in the affairs of the corporation at at least an annual 'meeting and vest- ing in a Board of Directors the authority to manage the affairs of the corporation without a vote of the membership 4 to the extent permitted by N.C.G.S. 55A, the North Carolina Nonprofit Corporation Act.