Laserfiche WebLink
• <br /> Article VI <br /> Capital Budget <br /> Subdivision 1: The Members recognize that on-going capital expenditures will be required to solve <br /> some of the water resource problems within the watershed. For the purposes of this Agreement, capital <br /> improvement projects are those determined necessary to implement the Organization's Capital <br /> Improvement Program. <br /> Subdivision 2: Capital projects will be financed on a subwatershed basis. Subwatersheds are drawn on <br /> the basis of jurisdictional boundaries contained within the watershed. There are five-subwatersheds: <br /> Minneapolis <br /> Saint Paul <br /> Saint Anthony <br /> Lauderdale <br /> Falcon Heights <br /> (Subwatersheds are indicated on the map in Appendix B) <br /> Capital improvement projects may be undertaken solely within one subwatershed, within two or more <br /> subwatersheds or in all the subwatersheds of the watershed. <br /> Subdivision 3: In order to finance an approved capital improvement project, the Commission may levy <br /> an ad valorem tax against properties within those subwatersheds which directly benefit from such <br /> project in the same manner as a watershed district may levy taxes under Minnesota Statutes Chapters <br /> 103B and 103D and Section 471.59. Each Member's Council's subwatershed, that is part of a capital <br /> improvement project, shall have discretion to implement its own means of funding its share of the <br /> capital improvement project costs, in lieu of ad valorem taxes. Cost assessments for capital <br /> improvement projects shall be addressed by mutual agreement of the Member Councils whose <br /> subwatersheds are involved. This assessment shall take into consideration such factors as the level of <br /> benefit, geographic area, and other pertinent factors. <br /> 12 <br />