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

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Section 7. necessary. Conmission. The Ct.,n,M?,:~]on m'.ty ak~xDint such et:her officer.% a.% ].t deea~:~ All such officers shall kx~ ap~x)inted from the membership of the X. FINANCIAL MAR~fERS Section 1. The fiscal year of the Conmission shall be the calendar Section 2. Commission funds may be expended by the Commission in accordance with hhe procedures established by law for the e×23enditure 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 Cc~mission, 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 m~mbers in support of the Ccranission shall be the five percent (5%) franchise fee which shall be collected fr~n Grantee by the Commission on behalf of the members. Members shall bill the Ccm~ission for ~11 cable-related expenses. The Conmission 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 oollec'tion of franchise fees adequate to cover expenses, the Grantee, as a prepayment of the initial franchise fee shall reimburse members and the Cu,uuission for ail cable-related expenditures. Section 4. A proposed budget for the enSuing calendar year shall be formulated by the Cc~nission and sukm4tted to the members on or before Dec~]kber 1, 1982, and thereafter on or before August 1. Such budget shall be deemed approved by a member unless, prior to Decen~ber 31, 1982, and thereafter prior to October 15 preceding the effective date of the proposed budget, the mc~T~l>c~r gives --7--