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exempt status <br />the <br />status: as <br />2(j) 'Articles and Code require that: <br />1. Member is sole member of Lessee <br />2. Lessee or Board is member of any affiliated corporation <br /> Board consists of 23 trustees: <br /> ^ Mayor <br /> ^ 2 Council members <br /> ^ 4 Special tnustees - 2 nominated by Council; 2 nominated by <br /> Mayor; approved by Board and ratified by Member <br /> ^ •3 Community trustees -nominated by Council; approved by <br /> Board; ratified by Member <br /> ^ 3 Member trustees <br />^ 9 trustees appointed by Board and ratified by Member <br /> ^ Immediate past President of the Medical Staff <br />3. At fast meeting of each year, election of chaiunan, vice- <br /> chairman, secretary and treasurer <br />4. Trustees follow conflict of interest requirements <br />5. No action that would adversely affect tax exemption <br />6. Performance of Lease andbonds <br />7. Covenant not to incur any additional indebtedness except as <br /> -,c-rrtu'ttud under the Fast iple~st 'Senior Ordinance <br />9.4 Maintenance of accurate, proper books and accounts, in acco ce tivr <br />generally accepted accounting principles <br />Annual Financial Audit - Completion of annual financial audit by outside <br />accountant <br />Filing to Trustee, City and mailed to 58cP and Moody's within 150 days <br />'~~ of end of of audited financial , _ ants, auditor's report and ap"nlion <br />In <br />C:\Documents and Settings\kimulh\7-Deal Settings\Tetripozary IntCmat Fites\OLK37F\20b6 Lkw MembaReport.doc Page 4 <br />_ _ <br />