2010-023 RES APPROVING REVISED BYLAWS FOR PEDC REVISED BYLAWS FOR PEDC

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insuring that information about the meetings is accurately communicated to the organizations they represent. Section 6.07 Other Members. The Corporation may have no members; nevertheless, the Corporation may use the word "members" or "participants" to designate those persons having privileges and status as the Board shall determine. These "members" or "participants" shall have no voting or other legal or equitable rights in the Corporation. SECTION VII EXECUTIVE DIRECTOR Section 7.01 Executive Director Position. The Executive Director is responsible for planning, organizing, staffing, directing, coordinating, and budgeting functions and provides direction to accomplish the PEDC vision, mission, strategic goals and objectives. The Executive Director acts as a primary organizational spokesperson and advocate working in partnership with the Board of Directors for the betterment of economic growth in Paris Texas. Section 7.02 Executive Director Responsibilities. A. Mission and Strategic Plan The Executive Director oversees development, implementation, and evaluation of programs and services in accordance with the Corporation's strategic plan and interests of member organizations and funding sources. In coordination with the Board, the Executive Director develops and manages the organization's strategic plan, implements the development of organization policies and procedures for fiscal management, personnel management, program management, and organizational operations. B. Fiscal and Organizational Accountability The Executive Director shall develop a balanced annual budget for review and approval by the Board, he shall review and approve all expenditures within the approved budget. The Executive Director shall also strive to develop a network of funding sources to expand and diversify the organization's base of financial support, and implement resource development strategies to ensure the long-term viability of the organization. The Executive Director shall also prepare all necessary RFPs/RFQs for procurement of goods and services to support the arganization's operations. The Executive Director shall be responsible for managing all PEDC support staff. C. Economic Development Agreements The Executive Director shall work with the PEDC Board and other participating governmental entities and staff in negotiating and developing Economic Development Agreements with new or existing business ar industry in accordance with the PEDC's Articles of Incorporation, the Texas Development Corporation Act, these Bylaws and all other applicable laws and regulations. The Executive Director shall be responsible for ensuring that the recipients of PEDC funding comply with all terms and conditions of the Economic Development Agreements. BYLAWS-PARIS ECONOMIC DEVELOPMENT CORPORATION