09/24/2007 Council Packet - Laserfiche WebLink

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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 comment 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 comment 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 comments regarding the capital improvement program and budget are received, such comments will be considered by the Board when it approves the Capital Improvement Program and Budget. Each governmental unit shall contribute its budgeted share of the cost of constructing said capital improvement projects. Subdivision 5. Appeals. In the event a member objects to the allocation of the Members' share of the Operating and /or the Capital Improvement Budgets for the next calendar year, it may appeal the determination of the VLAWMO Board to final and binding arbitration by filing a written appeal with an officer of the Board, within thirty (30) days of receipt of the Board's determination of the allocation. The arbitration procedure set forth in Section VII, subdivision 8., shall be followed. Subdivision 6. 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 7. 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 of 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 8. 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, the State of Minnesota, a unit of government or other governmental unit or organization or any person or entity for the purposes described herein; may enter into any reasonable agreement • •