CC PACKET 11102014 - Laserfiche WebLink

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76 7.2.4 Purchase, hold or dispose of personal property; 7.2.5 Contract for space, commodities or personnel services with a Party or group of Parties; 7.2.6 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. 7.3 The Operations Committee shall consult with the League of Minnesota Cities Insurance Trust to determine whether the activities of the Operations Committee will be covered under the liability insurance policies of the member cities and, if not, will secure such insurance as the Operations Committee deems appropriate provided coverage limits are at least equal to the limits of liability set forth in Minn. Stat. § 466.04. VIII. FINANCIAL MATTERS 8.1 The fiscal year of the Operations Committee is the calendar year. 8.2 The Operations Committee s hall adopt a n annual budget within 30 days of the effective date of this agreement for 2003 and prior to July 1 of each year for the years 2004 and thereafter. The Operations Committee will give an opportunity to each Party to comment on 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 Party. The budget is deemed approved by each Party unless, prior to October 10 of that year, a Party gives written notice to the secretary -treasurer that the Party is withdrawing from this Agreement at the end of the year as provided in this Agreement.