Agenda - 01-19-1988 - Laserfiche WebLink

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-4- 009 present to the County Commissioners an annual audit by p 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 Lew and agrees to submit budget estimates to the Board of . Commissioners= the standard forms used by county departments; the party of the sec- ond pert also agrees to use standard line items for accounting de- vised or consented to by the County Accountant from time to time. S. This contract shall expire 20 years from the date of closing of the FmHA loan. • 9. The party of the second part further agrees to file 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 to the extent permitted by N.C.G.S. SSA, the North Carolina Nonprofit Corporation Act.