We are considering a change to our bylaws to address how contracts are managed by the organization. We'll be discussing and voting on this change at our upcoming membership meeting in May. Prior to that meeting, please address any questions about this amendment to email@example.com
The proposed change (all new language underlined, removed language crossed through):
ARTICLE VII, Section 1(a)
Fall Festival Committee. There shall be a fall festival committee which shall be responsible for the annual neighborhood festival, including the tour of homes and the fall 5K road race. The board of directors shall appoint the chair and a treasurer of the fall festival committee, and the chair shall appoint such other members of the committee as he or she deems necessary.
The chair of the fall festival committee shall have the authority to execute contracts and other legal instruments on behalf of the neighborhood organization without prior approval provided that such contracts and other instruments relate solely to the responsibilities of the fall festival committee and that no single contract or other instrument exceeds $25,000.00 in total value. The chair of the fall festival committee shall present a budget, project plan, and resource plan to the board of directors no later than 150 days before the festival and make a report on each monthly. The treasurer of the fall festival committee shall have the authority to make disbursements from such funds or accounts as the board of directors shall direct but shall do so only as the neighborhood organization or the fall festival committee shall direct in accordance with the approved budget. The treasurer of the fall festival committee shall deposit all receipts as the board of directors shall direct. The treasurer of the fall festival committee shall keep a full and accurate account of all receipts and disbursements in books belonging to the neighborhood organization and shall make a full financial report to the neighborhood organization no later than the regular meeting in December.
The President shall designate two current officers to review each contract into which the neighborhood organization contemplates entering. No officer shall have the authority to execute a contract, and no contract shall be valid or enforceable against the neighborhood organization, unless and until the terms of such contract shall have been reviewed and approved by both designated officers prior to the execution thereof, with such approval evidenced in writing or by electronic transmission. In the event that the two designated officers do not agree either to approve or reject the contract during the review process, the President may elect to review and approve or reject such contract. Subject to any further conditions set forth in these bylaws and upon the approval by the two designated officers or the President and one designated officer, the execution of such contract by an officer shall be deemed authorized, approved and ratified by the board of directors and no additional action or approval shall be necessary.