2.74A.120 Board review and approval of required items.

(1)    At least quarterly, the board shall review monthly statements of income and expenses which compare budgeted expenditures to actual expenditures. The board shall review all such information at regular meetings, the minutes of which shall specifically note such reviews and include such information.

(2)    Review and approval of the board by resolution shall be necessary for any of the following transactions:

(a)    Transfer or conveyance of an interest in real estate other than release of a lien or satisfaction of a mortgage after payment has been received and execution of a lease.

(b)    Contracting of debts, issuance of notes, debentures or bonds, and mortgaging or pledging of CRESA assets or credit to secure the same.

(c)    Donation of money, property, or other assets belonging to CRESA.

(d)    Action by CRESA as a surety or guarantor.

(e)    Adoption of an annual budget and a separate capital budget, and amendments thereto.

(f)    Certification of annual reports and statements by the State Auditor, as required under Chapter 43.09 RCW, to be filed with the clerk as true and correct in the opinion of the board and of its members except as noted.

(g)    Adopting and amending the charter and bylaws.

(h)    Consistent with Chapter 4.96 RCW, adoption of policies and procedures for managing actions against CRESA, the board, officers, employees, and volunteers.

(i)    Instituting legal proceedings in CRESA’s name.

(j)    Dissolution of CRESA, upon approval by two-thirds (2/3) of the entire board.

(k)    Amending service fee formula. (Sec. 14 of Ord. 2017-10-08)