Bylaws Article X

Article X


SECTION 1. Contracts
Except as otherwise provided in these bylaws, the board of directors may authorize any officer or officers, agent or agents to enter into any contract or execute and deliver any instrument in the name and on behalf of the Corporation, and such authority may be general or confined to specific instances.

SECTION 2. Checks, Drafts, etc.
All checks, drafts, or other orders for the payment of money, and all notes, bonds or other evidences of indebtedness issued in the name of the Corporation shall be signed by an officer or officers, agent or agents, employee or employees of the Corporation and in a manner as shall be determined by resolution of the board of directors.

SECTION 3. Deposits
All funds, except petty cash, shall be deposited to the credit of the Corporation in banks, instruments, financial institutions, and other organizations as the board of directors may select.

SECTION 4. Change in Rates
Prior to a change in the rates to be charged by the Corporation for electric service, the Corporation shall be required to comply with all notice requirements as set forth in the Corporation’s mortgage(s) and as required by any regulatory authorities which may have jurisdiction over the Corporation’s electric rates.