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ARTICLE V <br /> BOARD OF DIRECTORS <br /> Section 5.01 Board Powers.All powers ofthe District shall be exercised by or in the name ofthe <br /> Board ofDirectors(the"Board").Thepowers ofthe Board shall include, but are not limited to the <br /> following: <br /> a) To.establish and implement the policies and programs of the District,and the <br /> procedures for the management and administration of the District's affairs; <br /> b) To appoint and remove, at the pleasure of a majority vote of the Board,the <br /> District's officers, agents, and employees, (except as expressly provided herein) <br /> and to prescribe the respective powers and duties consistent with the provisions <br /> • hereof; <br /> c) To borrow money and incur indebtedness in accordance with the Act; and <br /> d) To provide for the investment of the District's funds. <br /> Section 5.02 Board Composition.The Board shall be composed of the seven(7)members of the <br /> Everett City Council. A Board member may be removed from service on the Board only when <br /> removed from his or her office as a Council Member. Any vacancy shall be filled only by the <br /> appointment or election of a new City Council Member. <br /> Section 5.03 Board Officers. The Board shall include two or more officers.The same person <br /> shall not occupy both the office of President and any office responsible for the custody of <br /> funds and maintenance of finances and accounts. The officers of the Board shall be the <br /> President and Vice President,who shall be same as the Everett City Council President and Vice- <br /> President. Additional officers may be provided for in the Bylaws of the District. <br /> Section 5.04 Treasurer. The Treasurer of the District shall be the City's Finance Officer. The <br /> Finance Officer is'required by the Statute to serve as Treasurer and is not subject to removal by <br /> the Board. <br /> Section 5.05 Conflict of Interest. Board members shall comply in all respects with the conflict <br /> of interest guidelines and prohibitions of Chapter 42.23 RCW and the City's Charter as the same <br /> exists or is hereafter amended. <br /> Section 5.06 Attorney.The Board shallbe represented by the City Attorney's Office ofthe City <br /> of Everett. <br /> Section 5.07 Mayor. The Board by resolution may authorize the Mayor of the City to execute <br /> documents and take actions on behalf of the District. <br /> Section 5.08 Registered Agent. The registered agent of the District is the City Clerk of the City <br /> of Everett. <br /> 42 <br />