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55394.00068\42104908.1 <br /> <br /> <br /> 3 <br /> <br />(f) Unfinished business. <br />(g) New business. <br />(h) Adjournment. <br />Section 10. Non-liability for Debts. The private property of the Directors shall be <br />exempt from execution or other liability for any debts, liabilities or obligations of the <br />Authority and no Director shall be liable or responsible for any debts, liabilities or <br />obligations of the Authority. <br />Section 11. Indemnity by Authority for Litigation Expenses of Officer, Director or <br />Employee. Should any Director, officer or employee of the Authority be sued, either alone <br />or with others, because they are or were a director, officer or employee of the Au thority, <br />in any proceeding arising out of his or her alleged misfeasance or nonfeasance in the <br />performance of his or her duties or out of any alleged wrongful act against the Authority <br />or by the Authority, indemnity for his reasonable expenses, including a ttorneys’ fees <br />incurred in the defense of the proceedings, may be assessed against the Authority or its <br />receiver by the court in the same or a separate proceeding if the person sued acted in <br />good faith and in a manner such person reasonably believed to be in the best interests of <br />the Authority and, in the case of a criminal proceeding, had no reasonable cause to <br />believe the conduct of such person was unlawful. The amount of such indemnity shall <br />equal the amount of the expenses, including attorneys’ fees, incurred in the defense of <br />the proceeding. <br />ARTICLE IV <br />Officers <br />Section 1. Appointment of Officers. The Chairman, the Vice Chairman, <br />Treasurer, Executive Director, and Secretary of the Authority shall be the persons as set <br />forth in Section IV.1 of the Agreement. In addition, the City Attorney shall act as ex officio <br />legal counsel. <br />Section 2. Term of Office and Qualification. Each officer elected or appointed <br />pursuant to Section 1 of this Article IV shall hold office until such time as such of ficer <br />ceases (in the case of the Chairman or Vice Chairman) to be a member of the Board, <br />resigns or is removed from such office in accordance with the provisions of Article V of <br />these Bylaws or is unable to perform the duties of such office. <br />Section 3. Official Bond. The Treasurer, to the extent such officer’s duties and <br />responsibilities pursuant to the Joint Powers Law may require, is designated as the public <br />officer or person who has charge of, handles, or has access to any property of the <br />Authority, and such officer shall file an official bond as required by Section 6505.1 of the <br />Joint Powers Law in the amount of $25,000. <br />Section 4. Compensation. The compensation of all officers of the Authority <br />shall be fixed from time to time by the Board, or pursuant to authority of (general or