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Subdivision 14. It shall provide any Member City with technical data or any other <br />information of which the CommissionLRRWMO has knowledge that will assist the Member <br />City in preparing land use classifications or local water management plans within the Watershed. <br />Subdivision 15. It may provide legal and technical assistance in connection with <br />litigation or other proceedings between one or more of its MembersMember Cities and any other <br />political subdivision, commission, dboard or agency relating to the planning or construction <br />of facilities to drain or pond storm waters or relating to water quality within the Watershed. The <br />use of CommissionLRRWMO funds for litigation shall be only upon a favorable vote of a <br />majority of the eligible votes of the then existing Commissioners. <br />Subdivision 16. It may accumulate reserve funds for the purposes herein mentioned and <br />may invest funds of the CommissionLRRWMO not currently needed for its operations, in the <br />manner and subject to the laws of Minnesota applicable to statutory cities. <br />Subdivision 17. It may collect monies, subject to the provisions of this agreement, from <br />its MembersMember Cities, Anoka County and from any other source approved by a majority of <br />its Commissioners. <br />Subdivision 18. It may accept gifts, apply for and use grants or loans of money or other <br />property from the United States, the State of Minnesota, a unit of government or other <br />governmental unit or organization, or any person or entity for the purposes described herein; may <br />enter into any reasonable agreement required in connection therewith; may comply with any <br />laws or regulations applicable thereto; and may hold, use, and dispose of such money or property <br />in accordance with the terms of the gift, grant, loan or agreement relating thereto. <br />Subdivision 19. It may make contracts, incur expenses and make expenditures necessary <br />and incidental to the effectuation of these purposes and powers and may disburse therefor in the <br />manner hereinafter provided. <br />Subdivision 20. It shall cause to be made an annual audit by a certified public accountant <br />or the state auditor of the books and accounts of the GemfaissiefiLRRWMO and shall make and <br />file a report to its MembersMember Cities at least once each year including the following <br />information: <br />438695144 LW105 -1 <br />a. the approved budget; <br />b. a reporting of revenues; <br />c. a reporting of expenditures; <br />d. a financial audit report or section that includes a balance sheet, a classification of <br />revenues and expenditures, an analysis of changes in final balances, and any <br />additional statements considered necessary for full financial disclosure; and <br />e. the status of all CommissionLRRWMO projects and work within the Watershed; <br />Copies of said report shall be transmitted to the Clerk of each Member City. <br />8 <br />