Agenda - 01-19-1988 - Laserfiche WebLink

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;� -.4- 0.15 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 Commissioners on 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. or B. 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 pert 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. 55A, the North Carolina Nonprofit Corporation Act.