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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 /> t (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 cast 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 2J3rds 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 /> { Page A-13 <br />