Housing - 2005-01 - Amending Section 5.4 of the Corporation Bylaws• •
ROSEMEAD HOUSING DEVELOPMENT CORPORATION
RESOLUTION NO. 2005-1
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE ROSEMEAD HOUSING DEVELOPMENT CORPORATION
AMENDING SECTION 5.4 OF THE CORPORATION BYLAWS
WHEREAS: California Corporations Code Section § 5151(c)(3) authorizes a
non-profit corporation to make provision for the compensation of directors in the
corporate bylaws.
NOW, THEREFORE, the Board of Directors of the Rosemead Housing
Development Corporation does hereby resolve as follows:
Section 1: Section 5.4 of Article 5 of the Bylaws of the Rosemead Housing
Development Corporation is amended to read as follows:
5.4 Compensation and Reimbursement of Directors.
The directors shall receive monthly compensation of one hundred fifty
dollars ($150.00) per month. The directors shall additionally be
compensated for their expenditures of monies on behalf of the
corporation.
Section 2. This resolution shall take effect January 1, 2006.
Section 3. The Secretary shall certify to the adoption of this Resolution.
PASSED, APPROVED and ADOPTED this day of , 2005.
Jay Imperial, Chairperson
ATTEST:
Castruita, Secretary