03-11-2015 Council Packet - Laserfiche WebLink

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Section 1. The fiscal year of the Commission shall be the calendar year. Section 2. Commission funds may be expended by the commission in accordance with the procedures established by law for the expenditure of funds by Minnesota Statutory Cities. Orders, checks and drafts must be signed by any two of the officers. Other legal instruments shall be executed, with authority of the commission, by the chair and secretary/treasurer. Contracts shall be let and purchases made in accordance with the procedures established by law for Minnesota Statutory Cities. Section 3. The financial contributions of the Members in support of the Commission shall be in direct proportion to the percent of annual franchise fee revenues of each Member to the total franchise fee revenues of the System for the prior year multiplied by the Commission's total annual-budgetassessment to the Members. The-annual budget sha11-establish-the-contribution ef- eae4rMen4 Mug-year-and a timetable 14-the payment of' said eontributiotr. remainder el of any-franchi.•e-tie-paid-to the-Munber by-Grantee-shall be-used-foeeethle reta ted- expenses- Section 4. A proposed budget for the ensuing calendar year shall be formulated by the Commission and submitted to the Members on or before August !October 15. Sueh-budget-sha1i- be-deemed-approved-by-a-Mernhei Bless, prior-te-Octeher-I 5 peeeeeding-the-efJ'eetiwe-<ktte-al-the- preposed budgets-the-Member gi-esneticc. in writing-te-t e Commission that 4 is withdraw ng from the Gentniissierr. Final action adopting a budget for the ensuing calendar year shall be taken by the Commission on or before November 1 December 15 of each year. Section 5. Any Member may inspect and copy the commission books and records at any and all reasonable times. All books and records shall be kept in accordance with normal and accepted accounting procedures and principles used by Minnesota Statutory cities. XI. DURATION Section 1. The Commission shall continue for an indefinite term unless the number of Members shall become less than five. The Commission may also be terminated by mutual agreement of all of the Members at any time. Section 2. In order to prevent obligation for its financial contribution to the Commission for the ensuing year, a Member shall withdraw from the Commission by filing a written notice with the seeretary -Commission by Oa -ober -I -5 -July 1 of any year giving notice of withdrawal 7 2015 Final - Redline Version 10