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2016 RA th
<br />PFief Amendments
<br />INITIAL DRAFT
<br />4-14-25
<br />may exercise any other authority available to it under law to fund the budget including,
<br />but not limited, Member assessments.
<br />6.3 Member Assessments.
<br />(a) Authorized. A Member assessment may be imposed to cover an anticipated shortfall
<br />in VLAWMO's annual budget. A Member assessment amount shall be calculated
<br />using the formula set out in this section. At least 10 days prior to the meeting at
<br />which the Board considers acting on a proposed Member assessment, VLAWMO shall
<br />provide each Member written notice of the proposed Member assessment that
<br />identifies the amount to be paid by each Member. Members shall be given an
<br />opportunity to be heard at the meeting before the Board acts on the Member
<br />assessment. A Member assessment must be approved by at least a 2/3 majority of the
<br />full Board by no later than September I" for collection in the following, year. If
<br />approved, VLAWMO shall notify each Member in writing of the approved Member
<br />assessment amount.
<br />(b) Formula. To the extent a Member assessment is established, it shall be calculated
<br />T based upon the following formula:
<br />44LLForty percent (40%) based upon the assessed valuation of all real property of �\
<br />each government unit within the Area; \
<br />2)aForty percent (40%) based upon the total area of the property within each \
<br />governmental unit with the Area; and
<br />3)aTwenty percent (20%) based upon the population of each governmental unit
<br />within the Area.
<br />�SuHdilsietr�Pavment. Each Member shall pay its Member assessment amount: (1)
<br />no later than January 3 1 " in the year in which it is due: or pay one-half (1/2) of the
<br />assessment by January 31" of the year due and pay the second one-half (1/2) of the
<br />assessment by August 31' of the year due. If a Member fails to pay its assessment by
<br />the applicable due dates, it will be required to pay a one percent (1%) per month
<br />service on the unpaid amount due.
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<br />6.4 Capital Improvement P*oieets Program and Funding. n^ ^ ' ^`^'^ T"'" ' of eae Formatted: Font: Not Bold, Underline
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<br />(a) Preparation. Each year the Board shall prepare a
<br />preg FiCapital Improvement Program and budget for prejeetsCapital Improvements
<br />anticipated to be started or completed in the following year as described in the
<br />Via4efWatershed Management Plan. Each proposed pr-ejee4Capital Improvement shall
<br />be deseribedspecifically identified and its estimated cost and time for completion shall
<br />be provided. Only pr-ejeets deseribedCapital Improvements included in the Watershed
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