3.01.9.2 – Approval and Execution of Contracts
The Executive Director, or in this individual’s absence an approved Board signing officer, be the Society’s signatory of all contracts, documents or instruments that are required to be executed in the day to day affairs of operating and managing the Park, with the exception of contracts, documents or instruments:
That relate to Article 15 “Borrowing Powers” of the Society’s bylaws; or
That would result in an unbudgeted expenditure in excess of $15,000; or
That would result in committing the organization to an amount in excess of $50,000.
In the above exceptions the Executive Director will seek Board approval prior to execution.