Ordinance - #83-01 - Index for Changes - 01/11/1983 (2)

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Section 7. necessary. Comnission. year. The Conmission may appoint such other officers as it dc<?l~ All such officers shall be appointed from the membership of the X. FINANCIAL MATI~ERS Section 1. The fiscal year of the Con, nission shall be the calendar Section 2. Commission funds may be expended by the Commission in accordance with the procedures established by law for the'expenditure of funds by Minnesota Statutory Cities. Orders, checks and drafts must be signed by any two of the officers. Other legal inStruments shall be executed with authority of the Comnission, by the chair and secretary-treasurer. Contracts shall be let and purchases made in accordance with the procedures established by law for Minnesota Statutory Cities. Section 3. The financial contributions of the members in support of the Cc~nission shall be the five percent (5%) franchise fee which shall be collected from Grantee by the Co~nission on behalf of the members. Members shall bill the Commission for si] cable-related expenSes. The Commission shall, by majority vote, reimburse members for such expenses. The remainder of the franchise fee shall be used by the Cc~nission for cable-related expenses. Prior to the collection of franchise fees adequate to cover expenses, the Grantee, as a prepayment of the initial franchise fee shall reimburse members and the Ccr, mission for all cable-related expenditures. Section 4. A proposed budget for the ensuing calendar year shall be formulated by the Cc~nission 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 --7--