OPERATION OF COUNTY FAIR - Laserfiche WebLink

parties hereto that all property of whatever kind or nature acquired in the name of the Association shall automatically, without the necessity of any document transferring title, become County property on the date of acquisition thereof. In the event that this agreement is canceled or otherwise terminated in any manner, title to the property shall automatically vest in the County at the time of cancellation or termination whenever occurring. Notwithstanding any other provisions of this agreement, all motor vehicles shall be purchased in the name of the County of Alameda and shall be maintained by the Association. All acquisition and maintenance costs shall be an expense to the Special Fair Trust Fund. Provide, as part of each annual Fair, horse racing, if licensed by the State of California, entertainment, and other lawful traditional county fair activities. The Association may borrow funds as it shall deem reasonably necessary to carry out these activities. The Association shall carry, at its own expense, insurance coverage for theft, embezzlement, robbery and mysterious disappearance for the full amount of the funds so borrowed: Keep and maintain complete minutes of all meetings of its Board of Directors and file within thirty (30) days of each meeting (regular or special) a copy of the minutes with the Clerk of the County Board of Supervisors. Composition of the Board of Directors: During the term of this agreement, the membership of the Board of Directors shall be twenty-six (26) with sixteen (16) members elected by the Board of Directors and two (2) Directors appointed by each member of the Board of Supervisors, to serve at the pleasure of the appointing Supervisor or the appointing Supervisor's successor in office, for a maximum of ten (10) appointed Directors. The Board of Supervisors' appointees shall be eligible to be elective corporate officers and shall be entitled to vote on any and all matters, including Association membership, to come before the Board of Directors. No member of the Board of Directors shall be present during any discussion or vote on any matter in which s/he may be deemed to have a conflict of interest as determined by the President of the Association. Tenure of the Board of Directors: Each elected and/or appointed Director will serve a four (4) year term and be limited to three terms or a maximum of twelve (12) years of service. For current elected members there is a transition period. Beginning by the Annual Meeting (July) of 2000, the first two members would be replaced. Thereafter, on each succeeding anniversary date, two more Directors would have been replaced until each of the Directors with over twelve (12) years of service would have been replaced. At maximum, after a period of eight (8) years, each elect'ed Director with over twelve (12) years of service 5