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V. CONTRACT REQUIREMENTS <br /> <br />VI. <br /> <br />VII. <br /> <br />VIII. <br /> <br /> Cordrocts let and purchases made under this Joint Powers Agreement shall <br />conform 1o 1he requirements applicable to conirocts and purchases of the County. <br /> <br />INSURANCE <br /> <br />The Landfill Board shall provide for adequate insurance coverage. <br /> <br />DURATION OF LANDFILL BOARD <br /> <br /> The Landfill Board est0b'lished herewith in' this Agreement shall continue until <br />December 31, 1988, or until full repayment of all loons described herein, whichever is <br />longer, and in no event shall the Landfill Board continue to exist after December 31, <br />1989, except upon unanimous agreement of the parties. <br /> <br />FUNDING <br /> <br />Section [: Initial Funding. The parties hereby oulhorize expenditure of the <br />following funds from their respective Community Development Block Grants for <br />implementation of the methane extraction project upon the date of <br />commencement of the Landfill Board. Said funds shall be expended pursuant to <br />the direction of the Landfill Board: <br /> <br /> Ramsey; $~; 1,078.00 <br /> Anoka: $30,$3%00 <br /> County: $30,539.00 <br /> <br />In addition, Anoka County Cor~munity Act[on Program~ Inc., provides the sum of <br />$100,000.00 as a no-interest loan, pursuant to State Grant No. . <br />All funds described above are given to the Landfill Board os a no-interest loon. <br />if the Landfill Board finds that these funds ore insufficient to fund initial <br />construction of the pipeline and methane gas extraction project, the County <br />agrees to contribute an additional $5,000.00 as a grant from its CDBG funds. <br />The funds from the County set forth above include the sum of $10,000.00 which <br />has already been committed by the County for consulting and planning services. <br />The County's initial dollar contribution, therefore~ shall be the sum of <br />$10,53~.00. <br /> <br />if initial' project'coSts, including adm[nisffrative costs~ purchase and installation <br />of wells, pipeline and generators, and acquisition of real and personal property <br />attendant thereto are less than the total funds described above, the Landfill <br />Board may release funds it deems not reasonably needed for maintenanee~ <br />operation and administrative expenses. <br /> <br />Section 7_: Accountability for Funds. All funds shall be accounted for according <br />to generally accepted accounting principles. The report on all receTpts and <br />disbursements shall be forwarded to the Anoko County Board of Commissioners <br />and the City Council of each municipality quarterly, by the I Sth day of the <br />month following the reported quarter. Ail funds shall be strictly accounted for. <br /> <br />-3- <br /> <br /> <br />