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<br />signature shall be attested by the Secretary-Treasurer. Such <br />authority may be confined to specific instances or defined in <br />general terms. When appropriate, the BOARD may grant to <br />Director of the CORPORATION a specific or general power of <br />attorney to carry out action on behalf of the BOARD, <br />provided, however, that no such power of attorney may be <br />granted unless an appropriate resolution of the BOARD <br />authorizes the same. <br /> <br />B. The CORPORATION may, with approval of the CITY, contract <br />with any qualified and appropriate person, association, <br />CORPORATION or governmental entity to perform and discharge <br />designated tasks which will aid or assist the BOARD in the <br />performance of its duties; however, no such contract shall <br />ever be approved or entered into which seeks or attempts to <br />divest the BOARD of its decision-making and policy-making <br />functions in discharging its duties in accordance with these <br />Bylaws. <br /> <br />8.05 Checks and Drafts <br /> <br />All checks, drafts, or orders for the payment of money, <br />notes, or other evidences of indebtedness issued in the name <br />of the CORPORATION shall be signed or bear the facsimile of <br />the President and the Secretary-Treasurer and shall be issued <br />by the Director of Finance of the City of Paris. <br /> <br />8.06 Deposits <br /> <br />All funds of the CORPORATION shall be deposited on a <br />regular basis to the credit of the CORPORATION in CITY's <br />Depository Bank. <br /> <br />8.07 Gifts <br /> <br />The CORPORATION may accept on behalf of the CORPORATION <br />any contribution, gift, bequest, or device for the general <br />purpose or for any special purposes of the CORPORATION. <br /> <br />8.08 Purchasing <br /> <br />All purchasing made and contracts executed by the <br />CORPORATION shall be made in accordance with the requirements <br />of the Texas Constitution, Statutes of the State of Texas, <br />and these Bylaws. <br /> <br />8.09 Investments <br /> <br />Temporary and idle funds which are not needed for <br />immediate obligations of the CORPORATION may be invested in <br />any legal manner as set out in the Public Funds Investment <br />Act, Article 842A-2, VATCS, and in 4.l3A of these Bylaws. <br /> <br />PARIS ECONOMIC DEVELOPMENT CORP. BYLAWS - page 12 <br />