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DRAF1 <br />5-12724 <br />eni4er Cities shall be determi,Red-ki the I4end in such- <br />i--wwiicr ac to provide an orderly colleeties-tieeded, <br />(2) Tax Capacithe amount of a Member's annual contrihution to tile_ <br />operating budget sir I! I not cyprrd nrw-half ofpnercent of the net tax , <br />capacity of the Member's toial Area lncatcci within the WaterAed, <br />(:1) Budget Certified to Members. On or beforc July E, the Secretary or the <br />Commission Administrator shall certify the operating buclget to the clerk of each <br />Member. together with a statement of the p_212r ortion of the budget to be asscsseds <br />and paid toy each Member. if the proposed operating budget results in anysifiLie <br />caps established herein being exceeded the budget sent to the Members for <br />review must be acconipanied by a letter clearly notifyinL. the Members of the cap__ <br />being exceeded. the reasons for the pronosed exceedance. and the Member <br />4pproval required to approve the -proposed budget. !tithe approvals required <br />herein to exceed the cap are not obtained, the total budget or assessment amount <br />shall not exceed the ca_pned amount. <br />,W Member Review. The City Council ofeach Member aarees to review the <br />proposed budget providedby tbe.Commission. If any Member has any <br />‘cAliction.sthey must submit them in writing to the Board prior to August I. <br />Upon the receipt of any such written obiections, the Board shall set a date to hear <br />the Member's objections and shaprovide all Members notice of the hearing and <br />a copy of the written objections. After hearirm the objectionst, the Board may <br />modIfv, amend, or affirm the proposed budget by majority of all eligible votes of <br />the then existing Commissioners. <br />Ln Finalized, The -)iroriosed operating budget shall be considered final if no Member <br />files anobiection by Aug-ust 1 If a timely obiection is received. the Board shall <br />act to finaiize the operating buiet after conductinga hearing on the obiections. <br />The Board shall provide a cony of the final operating budget to each Member. If <br />there are objections, the Board shall include its findings and decision regarditv, <br />such obiwions with the final operating <br />6,4 Supplemental Budget, _ <br />(a) Insufficient Funds. If the Board determines it will not have sufficient funds in the <br />Commission's general fund to pay its oblig_ations or to otherwise fund <br />Commission operations in the present veari the Board may adopt a supplemental <br />budgc_t to raise additional funds as proyicled herein. <br />(b) Public Hearing. The Board shall call a public hearing on the pronosed <br />supplemental budget apd_,provide at least 1_0 dayswritten notice of the hearing, <br />together with a copy of the proposed supplemental budgct,to each Member. <br />28 <br />43469E.E. Lwioc AT 105 -1.7951303.0 <br />