Laserfiche WebLink
least two Board members, one of whom shall be the Treasurer or Authorized Deputy Treasurer. <br />The Treasurer shall be required to file with the Secretary of the Board a bond in the sum of at <br />least $10,000 or such higher amount as shall be determined by the Board. The <br />GemmissienLRRWMO shall pay the premium on said bond. <br />Subdivision 2. Each Member City agrees to contribute each year to a general fund, said <br />fund to be used for general administration purposes including, but not limited to: salaries, rent, <br />supplies, development of an overall plan, engineering and legal expenses, insurance, and bonds, <br />and to purchase and maintain devices to measure hydrological and water quality data. Said funds <br />may also be used for normal maintenance of the facilities, but any extraordinary maintenance or <br />repair expense shall be treated as an improvement cost and processed in accordance with <br />Subdivision 5 of this Article. The annual contribution by each Member City shall be based fifty <br />percent (50 %) on the net tax capacity of all property within the Watershed and fifty percent <br />(50 %) on the basis of the total area of each Member City within the boundaries of the Watershed <br />each year to the total area in the Lower Rum River Watershed governed by this Agreement. <br />438695144 LW105 -1 <br />Subdivision 3. <br />(a) An improvement fund shall be established for each improvement project instituted <br />under Article VII, Subdivision 4. In all cases in which capital improvements are <br />to be paid in whole or in part by MembermMember Cities, each Member City <br />agrees to contribute to said fund its agreed -upon proportionate share of the <br />engineering, legal and administrative costs as determined in accordance with <br />Article VII, Subdivisions 4 and 65 as the amount to be assessed against each <br />Member City as a cost of the improvement. The Board shall submit in writing a <br />statement to each Member City, setting forth in detail the expenses incurred by <br />the CommissionLRRWMO for each project. Each Member City further agrees to <br />pay to or contract with the Member City awarding said contract for the <br />improvement, its agreed -upon proportionate share of the cost of the improvement <br />in accordance with the determination of the Board under Article VII, Subdivisions <br />4 and 675. The Member City awarding the contract shall submit in writing copies <br />of the engineer's certificate authorizing payment during construction and the <br />Member City being billed agrees to pay its proportionate share of said <br />improvement costs within 30 days after receipt of the statement. The Member <br />City awarding the contract shall advise other contributing MembermMember <br />Cities of the tentative time schedule of the work and the estimated times when the <br />contributions shall be necessary. <br />(b) Notwithstanding the provisions of paragraph (a) of this subdivision, the <br />Commission may by a vote of 2 /3rds of all eligible votes of the then existing <br />Commissioners decide to proceed to fund all or any part of the cost of a capital <br />improvement contained in the capital improvement program of the plan pursuant <br />to the authority and subject to the provisions set forth in Minnesota Statutes, <br />Section 103B.251. It is expressed as a goal of this Agreement that cost sharing of <br />capital improvement costs be assigned and agreed to by Members pursuant to <br />14 <br />