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trust companies, authorized by Chapters 118 and 427 of the Minnesota Statutes to receive deposits <br />of public moneys and to act as depositories for the Commission funds. In no event shall there be a <br />disbursement of Commission funds without the signature of at least two Board members, one of <br />whom shall be the Treasurer or Authorized Deputy Treasurer. The Treasurer shall be required to <br />file with the Secretary of the Board a bond in the sum of at least $10,000 or such higher amount as <br />shall be determined by the Board. The Commission shall pay the premium on said bond. <br />Subdivision 2. Each member agrees to contribute each year to a general fund, said fund to <br />be used for general administration purposes including, but not limited to: salaries, rent, supplies, <br />development of an over all plan, engineering and legal expenses, insurance, and bonds, and to <br />purchase and maintain devices to measure hydrological and water quality data. Said funds may <br />also be used for normal maintenance of the facilities, but any extraordinary maintenance or repair <br />expense shall be treated as an improvement cost and processed in accordance with Subdivision 5 of <br />this Article. The annual contribution by each member shall be based fifty percent (50%) on the net <br />tax capacity of all property within the Watershed and fifty percent (50%) on the basis of the total <br />area of each member within the boundaries of the Watershed each year to the total area in the <br />Lower Rum River Watershed governed by this Agreement. <br />Subdivision 3. <br />(a) An improvement fund shall be established for each improvement project instituted <br />under Article VII, Subdivision 4. Each member agrees to contribute to said fund its <br />proportionate share of the engineering, legal and administrative costs as determined by <br />the Commission as the amount to be assessed against each member as a cost of the <br />improvement. The Board shall submit in writing a statement to each member, setting <br />forth in detail the expenses incurred by the Commission for each project. Each member <br />further agrees to pay to or contract with the member governmental unit awarding said <br />contract for the improvement, its proportionate share of the cost of the improvement in <br />accordance with the determination of the Board under Article VII, Subdivision 4. The <br />member awarding the contract shall submit in writing copies of the engineer's certificate <br />authorizing payment during construction and the member being billed agrees to pay its <br />proportionate share of said improvement costs within 30 days after receipt of the <br />statement. The member awarding the contract shall advise other contributing members <br />of the tentative time schedule of the work and the estimated times when the <br />contributions shall be necessary. <br />(L) Notwithstanding the provisions of paragraph (a) of this subdivision, the Commission <br />may by a vote of 2/3rds of all eligible votes of the then existing members of the <br />Commission 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 to the <br />authority and subject to the provisions set forth in Minnesota Statutes, Section <br />103B.251. It is expressed as a goal of this Agreement that cost sharing bf capital <br />101 <br />Page A-13 <br />