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55 <br />Section 1. The fiscal year of the Commission shall be the calendar year. <br />Section 2. Commission funds may be expended by the commission in accordance with the <br />procedures established by law for the expenditure of funds by Minnesota Statutory Cities. <br />Orders, checks and drafts must be signed by any two of the officers. Other legal instruments shall <br />be executed, with authority of the commission, by the chair and secretary/treasurer. Contracts <br />shall be let and purchases made in accordance with the procedures established by law for <br />Minnesota Statutory Cities. <br />Section 3. The financial contributions of the Members in support of the Commission shall <br />be in direct proportion to the percent of annual franchise fee revenues of each Member to the total <br />franchise fee revenues of the System for the prior year multiplied by the Commission's total <br />annual-bedgetassessment to the Members. The a al budget shall establish the eentribution of <br />eaeb Member for 0ie ensuing yeaF and a timetable &r the Payment of said realoribution. :Ph@ <br />reniainder of any franehise fee paid te the Member by Grantee shall be used for eable, Felased <br />oxpenses. <br />Section 4. A proposed budget for the ensuing calendar year shall be formulated by the <br />Commission and submitted to the Members on or before August l October 15. &teh budget <br />be deemed approved by a Member unless, prief to Oeteber 15 preeeeding the eff�etive date of the - <br />proposed budget, the Member gives natiee in writing to the Commission thaH"S­N�� <br />"-" the G ........:...." Final action adopting a budget for the ensuing calendar year shall be taken <br />by the Commission on or before n-, Ia: e�rDecember 15 of each year. <br />Section 5. Any Member may inspect and copy the commission books and records at any <br />and all reasonable times. All books and records shall be kept in accordance with normal and <br />accepted accounting procedures and principles used by Minnesota Statutory cities. <br />XI. DURATION <br />Section 1. The Commission shall continue for an indefinite term unless the number of <br />Members shall become less than five. The Commission may also be terminated by mutual <br />agreement of all of the Members at any time. <br />Section 2. In order to prevent obligation for its financial contribution to the Commission <br />for the ensuing year, a Member shall withdraw from the Commission by filing a written notice <br />with the seeretary -Commission by Oeteber 15 July 1 of any year giving notice of withdrawal <br />7 2015 final — Redline Version <br />