Agenda Packets - 1996/11/25 - Laserfiche WebLink

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• (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 IX. FINANCIAL MATTERS Section 1. The fiscal year of the North Metro I-35W Corridor Coalition is the calendar year. Section 2. The Board shall adopt an initial budget for 1996 and 1997 as soon as is reasonably possible and must thereafter adopt an annual budget for each year prior to July 1 of the preceding 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 for any year is deemed approved by each member unless, prior to October 10th of the preceding year a member gives written notice to • the Secretary-Treasurer that the member is withdrawing at the end of the year as provided in the 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. Section 4. Billings to North Metro I-35W Corridor Coalition members are due and payable no later then 30 days after mailing. In the event of a dispute as to the amount of a billing a member must nevertheless make payment as billed to preserve membership status. The member may make payment subject to its right to dispute the bill and exercise any remedies available to it. Failure to pay a billing within 60 days results in suspension of voting privileges of the member director. Failure to pay a billing within 120 days is grounds for termination of membership, but North Metro I-35W Corridor Coalition's rights to the billing are not affected by termination of membership. • 7