06-06-1994 EDA - Laserfiche WebLink

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Section 2. The board may: • (a) enter into contracts to carry out its powers and duties; (b) provide for the prosecution, defense, or other participation in proceedings at law or in equity in which it may have an interest; (c) employ such persons as it deems necessary on a part-time, full-time or consultant basis; (d) purchase, hold or dispose of real and personal property; (e) contract for space, commodities or personal services with a member or group of members; (f) accept gifts, apply for and use grants or loans of money or other property from the state, the United States of America and from other governmental units and may enter into agreements in connection therewith and hold, use and dispose of such money or property in accordance with the terms of the gift, grant, loan or agreement relating thereto. • (g) collect and analyze data, develop strategic recommendations and implement marketing programs for the purpose of economic development and retention of existing businesses within the jurisdiction of areas of operation of the parties. ARTICLE VIII. FINANCIAL MA'1"1'ERS Section 1. The fiscal year of RDC is the calendar year. Section 2. The board shall adopt an initial budget and must thereafter adopt an annual budget prior to July 1 of each year. The board will give an opportunity to each member to comment or object to the proposed budget before adoption. Notice of the adopted budget must be mailed promptly thereafter to the chief administrative officer of each member. The budget is deemed approved by each member unless, prior to October 10th of that year a member gives written notice to the Secretary-Treasurer that the member is withdrawing at the end of the year as provided in this agreement. Section 3. Operational costs shall be shared according to a method agreed upon by unanimous vote of the Board of Directors. This method may include membership dues and fees, and charges for service to members.