Agenda - Council - 05/31/1983 - Laserfiche WebLink

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"1 I I I I I I I I I I I I I I I I I I collect and receive money and services subject to the provisions of this Agreement from the parties and from any other sources approved by the Organization and it may incur expenses and make expenditures and disbursements necessary and incidental to the effectuat~on.~f the purposes of this Agreement. Funds ma~',be expended by the Organization in accordance with p~oced~re~ estab- 1 lished herein. Orders, checks and drafts shall be signed by the chair or vice-chair and the treasurer. Other legal instruments shall be executed on behalf of the Organization by the chair and secretary. Subdivision 2 - O~era~ng Funds: On or before August 1st of each year,.the Organization shall prepare an operating budget for the following year for the purpose of ~roviding funds to operate the Organization's business. Annual administrative expenses shall be budgeted and borne bY each voting party in.proporti6n to its assessed valuation under the jurisdiction of the Organization as. compared to the assessed valuation of all property under the jurisdiction of the Organization. The budget shall be recommended to the parties for ratification only upon unanimous approval of all voting members of'the Organization. After approval the Secretary shall certify the recommended budget to .each party on.or before September i' of each year together with a statement showing the amounts due from each .party. Each party shall~pay over to the Organization the amount owing in two equal installments; the.first on or before January 1st and the second on or before July 1st in accordance with the tax year for which the amount due. is being paid. --7--