Agenda - Council - 05/22/2001 - Laserfiche WebLink

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1289265v2 1. That Article II of the Agreement shall be amended as follows: The general purpose of this agreement is to establish an organization to monitor the operation and activities of cable communications, and in particular, the Cable Communications System (System) of the parties; to provide coordination of administration and enforcement of the franchises of parties for their respective System; to produce, edit and transmit video programming for the parties of this agreement; to make video production, editing and studio facilities and equipment available to the citizens of the parties to this agreement; and to conduct such other activities authorized herein as may be necessary to provide equitable and reasonable rates and service levels for the citizens of the parties to this agreement. That Article VIII of the Agreement shall be amended by adding a new Section 13 that reads as follows: Section 13. The Commission is given express authority to issue bonds, obligations and other forms of indebtedness to finance the Project in a principal amount not to exceed $1,500,000. In addition, the Commission is given express authority to issue bonds, obligations and other forms of indebtedness to refund such indebtedness issued to finance the Project. As provided in Minn. Stat. § 471.59, Subd. 11 the bonds, obligations or other forms of indebtedness shall be obligations of the Commission which is a joint board established by the Member Cities and shall be issued subject to the conditions and limitations set forth in Minn. Stat. §471.59, Subd. 11. The Commission may not pledge the full faith and credit or taxing power of the Member Cities. Any additional bonds, obligations or other forms of indebtedness may not be issued by the Commission without the prior consent of the Member Cities. 3. That Article VIII, Section 13 of the Agreement shall be renumbered as Section 14. 4. That Article X, Section 4 of the Agreement shall be amended as follows: Section 3. A proposed budget for the ensuing calendar year shall be formulated by the Commission and submitted to the members on or before December 1, 1982, and thereafter on or before August 1. Such budget shall be deemed approved by a member unless, prior to December 31, 1982, and thereafter prior to October 15 preceding the effective date of the proposed budget, the member gives notice in writing to the Commission that it is withdrawing from the Commission, subject to Article XI, Section 2 of this Agreement. Final action adopting a budget for the calendar year shall be taken by the Commission on or before December 31, 1982, and thereafter on or before November ~1 of each year. 5. That Article XI, Section 2 of the Agreement shall be amended as follows: 2 -115-