06/04/2007 Council Packet (2) - Laserfiche WebLink

Home Search

Secretary shall certify and prepare a statement showing the approved operating budget and the assessed amount to be paid by each Member on or before October 31 of each year. Subdivision 3. Annual Assessment for Services The annual contribution of each Member or other entity shall be calculated upon the following formula: 1) Forty percent (40 %) based upon the assessed valuation of all real property of each governmental unit within the Area; 2) Forty percent (40 %) based upon the total area of the property within each governmental unit within the Area; and 3) Twenty percent (20 %) based upon the population of each governmental unit within the Area. Subdivision 4. Capital Improvement Projects Program and Funding. On or before June 1 of each year the Board shall prepare a capital improvements program and budget for projects to be started or completed in the following year as described in the Water Plan and submit for approvaireview and comment by the Members. Each proposed project shall be described and its estimated cost and time for completion shall be provided. Only projects described in the Watershed Management Plan or its amendments may be included in the capital improvement budget. Funding in the capital improvement budget shall be calculated as follows: 1) If money raised by the Special tax levy or by the Storm Water Utility is to be used for Capital Projects, the Members shall be provided the opportunity to review and vprovecomment on the amount of the tax levy that will be used for Capital Projects within sixty (60) days of receipt of the Board's Capital Improvement Budget; 2) If a capital project is to be funded wholly or in part by one or more governmental unit(s), they will be provided the opportunity to review and •approve or-dis -app fevecomment on the capital improvement budget within sixty (60) days of receipt of the Board's Capital Improvement Budget; and 3) If service fees, grants, interest or other funding sources are available the source and amounts of such funds shall be shown. If the capital improvement budget is approved-as- p. vide - ah €we,- by the Board after reviewing any comments submitted by the Members. each governmental unit shall contribute its budgeted share of the cost of constructing said capital improvement projects. Subdivision 5. Governmental Unit Financing. Members may establish a watershed management tax district in the Area for the purpose of paying costs of the engineering and planning required to develop a watershed management plan for the Area. After the plan is adopted and approved, a tax district may be established for the purpose of paying capital costs of projects described in the plan (including normal and routine maintenance of projects). If required, the tax district shall be established by ordinance adopted after a hearing by a local government unit, following provisions of Minn. Stat. Chapter 103B. Subdivision 6. Reserve Funds. The Board may accumulate reserve funds for the purposes herein mentioned and may invest funds of the Board not currently needed for its operations in the manner and subject to the laws of Minnesota applicable to statutory cities. Any and all reserve funds must be clearly indicated on the annual financial audit provided to the Members. Subdivision 7. Gifts; Grants; Loans. VLAWMO may, within the scope of this Agreement, accept gifts, apply for and use grants or loans of money or other property from the United States, 10