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SAN LEANDRO ADMINISTRATIVE CODE TITLE 25 PUBLIC FINANCING AUTHORITY Chapter 1 Bylaws ARTICLE I-DEFINITIONS: OFFICES AND SEAL &25.1.100: DEFINITIONS. All capitalized terms used herein shall have the respective meanings given such terms in the Joint Exercise of Powers Agreement, dated May 24, 1993, by and between the City of San Leandro, California, and the Redevelopment Agency of the City of San Leandro (the "Agreement"). &25.1.105: OFFICES. The principal office of the Authority for the transaction of business shall be 835 East 14th Street, San Leandro, CA 94577. The Board may, however, fix and change from time to time the principal office from one location to another within the City of San Leandro by noting the change of address in the minutes of the meeting of the Board at which the address was fixed or changed. The fixing or changing of such address shall not be deemed an amendment to these Bylaws. &25.1.110: SEAL. The Authority shall have an official seal, consisting of two (2) concentric circles with the words "San Leandro Public Financing Authority" within the outer circle and the date of formation of the Authority within the inner circle. The Secretary shall obtain or cause to be obtained the Seal at the Authority's expense and shall have custody of the Seal. ARTICLE 2-BOARD &25.1.200: POWERS. Subject to the limitations of the Agreement, the terms of these Bylaws, and the laws of the State of California, the powers of this Authority shall be vested in and exercised by and its property controlled and its affairs conducted by the Board of the Authority. &25.1.205: NUMBER. The Board shall have seven (7) Directors, who shall be the members of the City Council of the City of San Leandro. Each Director shall hold office for a term which coincides with such Director's term of office as member of the City Council. &25.1.210: COMPENSATION. Directors shall serve without compensation but each Director may be reimbursed his or her necessary and actual expenses, including travel incident to his services as Director, pursuant to resolution of the Board. Any Director may elect, however, to decline said reimbursement. &25.1.215: REGULAR MEETINGS. The regular meetings of the Board shall be held annually on the third Monday in June at the hour of 7:00 p.m. If any regular meeting falls on a holiday, such regular meeting shall be held on the next business day at the same hour. Department Responsible for Revision: Public Financing Authority 01/02/2007 Chapter 25.1 Page 1