Common use of Special Voting Clause in Contracts

Special Voting. 4.11.1 Except as provided below, matters that require Special Voting as described in this Section shall require 72 hours prior notice to any Xxxxx Act meeting or special meeting. Two-thirds vote (or such greater vote as required by state law) of the appointed Directors shall be required to take any action on the following: (a) Change the designation of Treasurer or Auditor of the Authority; (b) Issue bonds or other forms of debt; (c) Exercise the power of eminent domain, subject to prior approval by the passage of an authorizing ordinance or other legally sufficient action by the affected Party; and (d) Amend this Agreement or adopt or amend the bylaws of the Authority. At least 30 days advance notice shall be provided for such actions. The Authority shall also provide prompt written notice to all Parties of the action taken and enclose the adopted or modified documents.

Special Voting. 4.11.1 Except as provided below, matters that require Special Voting as described in this Section shall require 72 hours prior notice to any Xxxxx Act meeting or special meeting. Two-thirds vote (or such greater vote as required by state law) of the appointed Directors who are present at the subject meeting shall be required to take any action on the following: (a) Change the designation of Treasurer or Auditor of the Authority; (b) Issue bonds or other forms of debt; (c) Exercise the power of eminent domain, subject to prior approval by the passage of an authorizing ordinance or other legally sufficient action by the affected Party; and (d) Amend this Agreement or adopt or amend the bylaws of the Authority. At least 30 days advance notice shall be provided for such actions. The Authority shall also provide prompt written notice to all Parties of the action taken and enclose the adopted or modified documents.