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SAN LEANDRO ADMINISTRATIVE CODE TITLE 25 PUBLIC FINANCING AUTHORITY Chanter 1 Bylaws oosted on or near the door of the olace where the reJ!Ular. adjourned reJ!Ular. soecial or adjourned soecial meeting was held within twenty-four (24) hours after the time of the adjournment. When a re~lar meetinf! is a reJ!Ular meetinf! for allourooses. When an order of adjournment of any meetinf! fails to state the hour at which the adjourned meeting is to be held, it shall be held at the hour soecified for reJ!Ular meetinflS. (f) Hearings-Continuance. Anv hearinf! beinfl held. or notice or ordered to be held. bv the Board at any meeting may bv order or notice of continuance be continued or re-continued to any subseQuent meeting of the Board in the same manner and to the same extent set forth for the adjournment of meetings: orovided. that if the hearinf! is continued to a time less than twenty-four (24) hours after the time specified in the order of notice of hear in fl. a coov of the order or notice of continuance of hearinf! shall be oosted immediately following the meetinf! at which the order or declaration of continuance was adolJted or made. ~25.1.245: NON-LIABILITY FOR DEBTS. The lJrivate lJrooertv of the Directors shall be exemot from execution or other liability for any debts. liabilities or obligations of the Authority and no Director shall be liable or resoonsible for any debts. liabilities of obliflations of the Authoritv. ,$25.1.250: INDEMNITY BY AUTHORITY FOR LITIGATION EXPENSES OF OFFICER. DIRECTOR OR EMPLOYEE. Should any Director. officer or emolovee of the Authoritv be sued, either alone or with others. because he is or was a director. officer or emlJlovee of the Authoritv. in any proceedinf! arising out of his alleged misfeasance or nonfeasance in the oerformance of his duties or out of any alleged wrongful act against the Authority or bv the Authority. indemnity for his reasonable exoenses. including attorneys · fees incurred in the defense of the oroceedings. may be assessed against the Authority or its receiver bv the court in the same or a selJarate lJroceedinfl if the person sued acted in good faith and in a manner such person reasonably believed to be in the best interests of the Authoritv and, in the case of a criminal proceeding. had no reasonable cause to believe the conduct of such oerson was unlawful. The amount of such indemnity shall eQual the amount of the exoenses. including attornevs' fees. incurred in the defense of the proceeding. ARTICLE 3-0BJECTS AND PURPOSES .~25.1.300: NATURE OF OBJECTS AND PURPOSES. The business of this Authority is to be olJerated and conducted in the lJromotion of its objects and OU17Joses as set forth in the Aflreement. .~25.1.305: DISTRIBUTION OF ASSETS DURING CONTINUANCE OF AUTHORITY. During the continuance of the Authoritv. it may distribute any of its assets to the Members of the Department Responsible for Revision: Public Financing Authority 2006 Chapter 25.1 Page 4 88