Okeechobee County Fair Association Inc.

“This association shall have at least twenty -five (25) members at all times, a majority of whom shall be residents of okeechobee county, florida. Each board member shall also be a member of the association. All qualifications for members, if any, shall be promulgated from time to time by the board. Ad-hoc members may be appointed by the board of directors. Lifetime honorary members shall be voted on by the okeechobee county fair association. Lifetime honorary members shall not have voting privileges. All members of the association shall be bound to uphold the charter and by-laws.”

“The affairs of the association shall be managed and administered by the board of directors. This shall be done in a manner consistent with the charter and by-laws. A majority of the fair association present at a meeting shall constitute a quorum. The board of directors may grant the president, upon his/her request, the authority to appoint an operating committee to conduct day-to-day operations and business related to the fair.”

“Meetings: the annual meeting of the association shall be held in june. A notice shall be provided to each member in good standing at least thirty (30) days prior to the annual meeting. Regular meetings of the fair association may be scheduled by the board of directors. Special meetings may be called by the president or by a majority of the board of directors. Finances: all money paid to the association shall be placed in a general operating fund. All events shall have a separate fund account and shall be closed after each event, with excess money transferred to general operating fund. Funds unused from the current years budget and fundraiser will be placed in a reserve account and may be used as deemed necessary by the board of directors. Except as the board of directors may generally or, in particular cases, authorize the execution thereof in some other manner, all checks, drafts, and other instruments for the payment of money and all instruments of transfer of securities shall be signed by two (2) officers . No member of the executive committee of the corporation shall be authorized to obligate or commit the corporation to any single expenditure of the corporations funds in an amount exceeding 1000, if not provided for within the budget or without prior approval of a majority of the board of directors. The fiscal year of the association shall annually close on september 30th. At the april board of directors meeting, the president shall appoint a budget committee. The budget committee shall submit for approval, a proposed budget at the regularly scheduled june board meeting. The board of directors shall vote on and adopt a new budget at the regularly scheduled july board meeting. The new fiscal year will begin with the newly adopted budget on october 1st. The accounts of the association shall be audited internally at the end of the fiscal year by the treasurer, president, and a certified public accountant. The audit shall at all times be available to members of the organization within the offices of the association. The board of directors may elect an executive director and such other officers and staff as the board of directors may designate to be bonded by a sufficient fidelity bond in the amount set by the board and paid for by the association.”

“The 990 tax return is delivered to the board for reveiw and discussion. The board will have at least two weeks prior to the date of filing to address possible corrections and or ommissions with the tax preparer.”

“Upon voting on any new business or subject at each board meeting, each board member is aksed to state if there are any conflicts of interest regarding the new business or subject. This is noted in the minutes of each meeting if any conflicts of interest are exposed or identified.”

“All governing documents are made available to the public upon request.”

“Other purposes as may be provided by article ii of the certificate of incoroporation.”

“Book / tax depreciation difference -258”