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that it will take all reasonable action available to it under the law to alleviate the pollution and to <br />assist in protecting and improving the water quality of surface water and groundwater in the <br />Watershed. <br />Subdivision 12. Local Water Management Plans. The Commission shall have power and <br />authority to review the membcrMembers' local water management plans, capital improvements <br />relating to surface water management programs and official controls required by Minnesota <br />Statutes, Section 103B.235 and /or by rules promulgated and adopted by the Board of Water and <br />Soil Resources. <br />438695v23 LW105 -1 <br />Subdivision 3. <br />FINANCES <br />VIII. <br />Subdivision 1. The Commission funds may be expended by the Board in accordance <br />with this agreement and in accordance with the procedures as established by law and in the <br />manncr as may be determined by the Board. The Board shall designate one or more national or <br />state bank or trust companies, authorized by Minnesota Statutes, Chapters 118 and 427 of the <br />Minnesota Statutca to receive deposits of public moneys and to act as depositories for the <br />Commission funds. In no event shall there be a disbursement of Commission funds without the <br />signature of at least two Board members, one of whom shall be the Treasurer or Authorized <br />Deputy Treasurer. The Treasurer shall be required to file with the Secretary of the Board a bond <br />in the sum of at least $10,000 or such higher amount as shall be determined by the Board. The <br />Commission shall pay the premium on said bond. <br />Subdivision 2. Each memberMember agrees to contribute each year to a general fund, <br />said fund to be used for general administration purposes including, but not limited to: salaries, <br />rent, supplies, development of an overall plan, engineering and legal expenses, insurance, and <br />bonds, and to purchase and maintain devices to measure hydrological and water quality data. <br />Said funds may also be used for normal maintenance of the facilities, but any extraordinary <br />maintenance or repair expense shall be treated as an improvement cost and processed in <br />accordance with Subdivision 5 of this Article. The annual contribution by each memberMember <br />shall be based fifty percent (50 %) on the net tax capacity of all property within the Watershed <br />and fifty percent (50 %) on the basis of the total area of each filembe-rMember within the <br />boundaries of the Watershed each year to the total area in the Lower Rum River Watershed <br />governed by this Agreement. <br />(a) An improvement fund shall be established for each improvement project instituted <br />under Article VII, Subdivision 4. Each membcrIn all cases in which capital <br />improvements are to be paid in whole or in part by Members, each Member <br />agrees to contribute to said fund its agreed -upon proportionate share of the <br />engineering, legal and administrative costs as determined by the Commissionin <br />accordance with Article VII, Subdivisions 4 and 6 as the amount to be assessed <br />against each filemberMember as a cost of the improvement. The Board shall <br />submit in writing a statement to each mcmbcrMember, setting forth in detail the <br />14 <br />