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C:\Dmumencs and Settings\mchumh\Locai Semngs \Temporary Intemet Flea\oLKE8VPA Draft 7 clean.doc DRAFT Vean 5 //////// I personal property, participation or fending from the Redevelopment Agency under the control of or under contract with the Member Agency, pledges, guarantees or whatever other instruments or involvement the Member Agency and HEAT -SMC may agree to. Contributions of all kinds to the Program budget from private persons or entities and not - for -profit entities, whether or not their interests are represented by any At Large Directors, are encouraged, so long as they do not cause a violation of any applicable conflict of interest statutes, rules or regulations. 6. Financial Manaeement 6.1. The HEAT -SMC may appoint a financial manager to manage, hold, invest and distribute the funds of the HEAT -SMC ( "Financial Manager "). The duties of the Financial Manager shall include those responsibilities as deemed necessary or appropriate by the Board. There shall be a strict accountability of all funds and report of all receipts and disbursements. 6.2. The public office or officers or person or persons who may be designated to have charge of, handle, or have access to any property of the HEAT -SMC, shall file an official bond in an amount to be fixed by the Board. 7. Staffine 7.1. It is understood that HEAT -SMC may require the support of its own administrative staff. When deemed necessary, the Board of Directors may employ or use a managing agent ( "Managing Agent'), to implement the objectives of the HEAT -SMC. The Managing Agent may consist of a separate entity or an executive director. The Board shall have responsibility for all employment decisions regarding said Managing Agent, who shall serve at the pleasure of the Board of Directors. 7.2. The Managing Agent may be delegated authority as deemed necessary or appropriate by the Board.