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Procedure For Presenting Contingency Offers To Purchase Real Estate

 

THE CONSULTING DIRECTOR, WITH THE PRIOR APPROVAL OF A MAJORITY OF THE EXECUTIVE COMMITTEE (HLC CHAIRMAN, HLC VICE-CHAIRMAN, HLC SECRETARY, HLC TREASURER AND HLC REVOLVING FUND LIAISON-CHAIRMAN OF THE PROJECTS COMMITTEE) IS AUTHORIZED TO PRESENT OFFERS ON BEHALF OF THE COMMISSION TO PURCHASE REAL PROPERTY PROVIDED THAT ANY SUCH OFFER IS CONTINGENT UPON AND SUBJECT TO THE APPROVAL OF THE COMMISSION AT ITS NEXT REGULARLY SCHEDULED MONTHLY MEETING. THE COMMISSION UNANIMOUSLY APPROVED THE MOTION.