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Article VI <br /> Capital Budget <br /> Subdivision 1: The Members recognize that on-going capital expenditures will be required to solve some <br /> 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 over the entire watershed. <br /> Subdivision 3: In order to finance an approved capital improvement project, the Commission may levy an <br /> ad valorem tax against the entire watershed. <br /> Subdivision 4: Approval of capital improvement projects shall require a majority vote of the quorum <br /> present and other such bodies as required by law. Capital improvement projects shall be financed in <br /> • accordance with Minnesota Statutes, 103B and 103D. <br /> Subdivision 5: The Commission shall have the authority to prepare and adopt a Capital Improvement <br /> Program as defined in Minnesota Statutes 103B.205 Subdivision 3 as part of the Watershed Management <br /> Plan. The Capital Improvement Program shall set forth the schedule of capital projects identified in the <br /> Watershed Management Plan as well as designating Members for participation in each project and <br /> estimating the total costs for such projects. Projects not identified in the Watershed Management <br /> Organization Watershed Management Plan shall not be included in the Capital Improvement Program <br /> until and unless the Watershed Management Organization Watershed Management Plan is amended to <br /> include such projects. Implementation of the Capital Improvement Program will begin upon adoption of <br /> the Watershed Management Organization Watershed Management Plan subject to the availability of <br /> funding. <br /> Subdivision 6: All capital improvement projects need to be listed in the Watershed Management Plan. <br /> • Subdivision 7: All capital improvement project proposals for the following year must be submitted to staff <br /> before May 1 so that the proposed capital budget can be submitted to the Commissioners during the May <br /> 13 <br />