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i <br /> I <br /> I <br /> i <br /> i <br /> i <br /> enter into any reasonable agreement required in connection therewith; may comply with any <br /> laws or regulations applicable thereto; and may hold, use, and dispose of such money or property <br /> in accordance with the terms of the gift, grant, loan or agreement relating thereto. <br /> E <br /> }L} <br /> F <br /> Subdivision 19. It may make contracts, incur expenses and make expenditures necessary k <br /> and incidental to the effectuation of these purposes and powers and may disburse therefor in the <br /> manner hereinafter provided. i <br /> f <br /> Subdivision 20. It shall cause to be made an annual audit by a certified public accountant <br /> or the state auditor of the books and accounts of the LRRWMO and shall make and file a report f <br /> is <br /> to its Member Cities at least once each year including the following information: <br /> a. the approved budget; <br /> } <br /> pp g <br /> b. a reporting of revenues; } <br /> C. a reporting of expenditures; <br /> d. a financial audit report or section that includes a balance sheet, a classification of <br /> revenues and expenditures, an analysis of changes in final balances, and any <br /> additional statements considered necessaryfor full financial disclosure; and 1 <br /> } <br /> e. the status of all LRRWMO projects and work within the Watershed; s. <br /> is <br /> Copies of said report shall be transmitted to the Clerk of each Member City. <br /> Subdivision 21. Its books, reports and records shall be available for and open to '= <br /> inspection by its Member Cities at all reasonable times. <br /> Subdivision 22. It may recommend changes in this agreement to its Member Cities. <br /> Subdivision 23. It may exercise all other powers necessary and incidental to the <br /> implementation of the purposes and powers set forth herein and as outlined and authorized by i: <br /> Minnesota Statutes, Sections 103B.201 through 103B.255. <br /> Subdivision 24. It shall cooperate with the State of Minnesota, the Commissioner of E <br /> Natural Resources and the Director of the Division of Waters, Soils and Minerals of the s. <br /> �x. <br /> Department of Natural Resources in complying with the requirements of Minnesota Statutes, <br /> Chapter 103G. <br /> Subdivision 25. Each Member Cityreserves the right to conduct separate or concurrent <br /> � p <br /> studies on any matter under study by the LRRWMO. <br /> Subdivision 26. It shall establish a procedure for establishing citizen or technical <br /> advisory committees and provide other means of public participation. <br /> Subdivision 27. where the LRRWMO is authorized or requested to review and make <br /> recommendations on any matter, the LRRWMO shall act on such matter within sixty 60 daysIN <br /> of receipt of the matter referred. Failure of the LRRWMO to act within sixty Y (60) days shall <br /> constitute approval of the matter referred, unless the LRRWMO requests and receives from the <br /> 8 <br /> 438695v5 LW105-1 <br /> F. <br /> F <br />