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C. retain or dismiss the chief executive officer or determine the chief executive <br />officer's compensation; or <br />d. take any actions expressly reserved to the Board by this Contract or the <br />ByLaws. <br />The Executive Committee shall have the authority, if necessary, to avoid default on <br />any Bond, to withdraw from any capital reserve fund or rate stabilization fund, an amount <br />equal to the amount necessary to avoid a default and to authorize payment of that amount to <br />avoid default. <br />Section 4.6 Staff, Consultants and Contractors. Cascade staff shall consist of a <br />chief executive officer and other positions established by the Board. The Board shall appoint, <br />designate the title of, and establish the compensation range of the chief executive officer. The <br />Board shall hire or retain legal counsel and independent accountants and auditors for Cascade. <br />The authority to hire other consultants may be delegated to the Executive Committee. The <br />chief executive officer appoints persons to fill other staff positions, and those appointments <br />may be subject to ratification by the Board or the Executive Committee if the ByLaws so <br />provide. The Board may also provide that administrative, professional or technical services <br />be performed by contract. <br />Section 4.7 Budget; Dues; Financial Management. The Board must approve an <br />annual budget determining Cascade's revenues and expenditures no later than sixty (60) days <br />before the beginning of the fiscal year in which that budget will be in effect. The budget will <br />be developed and approved according to a schedule established by the ByLaws. The budget <br />must identify the levels of Member Charges on which revenue projections are based. The <br />Board may amend the budget. <br />Cascade Interlocal Contract -14- <br />Amended and Restated <br />October 26, 2011 <br />