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Deleted: secretary or <br />treasurer <br />Formatted: Not <br />Highlight <br />Deleted: four <br />Formatted: Not <br />Highlight <br />Formatted: Not <br />Highlight <br />Deleted:. <br />Formatted: Not <br />Highlight <br />Deleted: Section 6. <br />I'hc treasurer <br />Formatted: Not <br />Highlight <br />Formatted: Not <br />Highlight <br />irmatted: Not <br />Highlight <br />Formatted: Not <br />Highlight <br />.. ...... ..... ...... ...... <br />Formatted: No <br />Highlight <br />Deleted: The <br />remainder of any <br />franchise fee paid to <br />the Member by <br />Grantee shall be used <br />for cable -related <br />expenses. <br />Formatted: Not <br />Highlight <br />Section 2. A vacancy in the office of chair, vice -chain, or ret v'1 castirerphall occur <br />for any of the reasons for which a vacancy in the office of a director shall occur. Vacancies in <br />these offices shall be filled by the commission for the unexpired portion of the term. <br />Section 3. The ,lhrcc officers shall all be members of the executive committee. <br />Section 4. The chair shall preside at all meetings of the Commission and the executive <br />committee. The vice -chair shall act as chair in the absence of the chair. <br />,Section 5. The secretary/treasure ;shall be responsible for keeping a record of all of the <br />proceedings of the commission and executive committee,and, <br />shall be responsible for custody of all funds, for the keeping of all financial records of the <br />Commission and for such other matters as shall be delegated by the commission. The <br />Commission may require that the secretary/treasurer post a fidelity bond or other insurance <br />against loss of Commission funds in an amount approved by the Commission, at the expense of <br />the Commission. Said fidelity bond or other insurance may cover all persons authorized to handle <br />funds of the Commission. <br />Section 7. The Commission may appoint such other officers as it (teems necessary. All <br />such officers shall be appointed from the membership of the commission. <br />X. FINANCIAL MATTERS <br />Section I. The fiscal year of the Commission shall be the calendar year. <br />Section 2. Commission funds may be expended by the conunission in accordance with the <br />procedures established by law for the expenditure of funds by Minnesota Statutory Cities. <br />Orders, checks and drafts must be signed by any two of the officers. Other legal instruments shall <br />be executed, with authority of the commission, by the chair and secEtaiyAtreasurer. Contracts <br />shall be let and purchases made in accordance with the procedures established by law for <br />Minnesota Statutory Cities. <br />Section 3. The financial contributions of the Members in support of the Commission shall <br />be in direct proportion to the percent of annual revenues of each Member to the total revenues of <br />the System for the prior year multiplied by the Commission's annual budget. The annual budget <br />shall establish the contribution of each Member for the ensuing year and a timetable for the <br />payment of said contribution., <br />7 <br />6 <br />