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r <br /> Section 1. Establishment of North Metro Recreation <br /> Fund. <br /> A. There shall be established in the School District <br /> Accounts and treasury a special fund to be called "North <br /> Metro Recreation Fund" . All revenues, receipts and <br /> investment interests of the commission, shall be deposited <br /> intact in the Fund' s bank account including recreational <br /> funds purposed by the City Councils and School District, or <br /> by the Commission from gifts, bequests, contributions, <br /> earnings and admission charges of the Commission for the use <br /> of facilities, and programs other miscellaneous revenues. <br /> ' �1 S✓u� J'�. Y L� ._L_ ..- ___ L l- ,..-..J .-.Y.�r a 1 �'(1 t�" C- <br /> recreation program shall be disbursed from the North Metro <br /> Recreation Fund. <br /> Section 2 . Budget. <br /> A. A proposed budget for the period <br /> , shall be formulated by the Commission <br /> and shall be submitted to the City Councils and the School <br /> Board not later than <br /> In succeeding years, the Commission shall adopt and submit <br /> its proposed budget for the next fiscal must be approved by <br /> the City Councils and the School Board. Individual City <br /> Councils and the School Board can submit independent <br /> revisions to the proposed budget. Final decisions regarding <br /> contributions and revisions shall be reported to the <br /> Commission no later than December 1. If there are unresolved <br /> budget differences between the City Councils or School Board, <br /> Page 11 <br />