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lti <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 trustees - 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 first"meeting'of each year, election of chairman, vices <br />chairman, secretary and treasurer <br />4. Trustees follgw conflict of interest requirements <br />5. No action that would adversely affect tax exemption <br />6. Performance of Lease and bonds <br />7. Covenant not to incur ;any additional indebtedness except as <br />corporate existence, including to qualify for payments by In <br />Maintenance of accurate, proper books and accounts,. m accoraance wim <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 S&P and Moody's within 150 days <br />of end of FY of audited financial statements, auditor's report and opinion, <br />certificate of Authorized Lease Representative of compliance <br />Page 4 <br />G:\MemberReports\2007.Lkw.MemberReport.doc <br />